UAP Holdings has released their its half year results for the period ended 30th June 2019 with gross written premium increasing by 1.8% to ksh 9.912 billion. The gross earned premium increased by 2.9% to ksh 9.178 billion compared to ksh 8.917 billion in the previous half-year period. The reinsurance ceded was reported to at ksh 1.606 billion, a 2% increase from the previous half-year period which was ksh 1.574 billion.
The total income increased marginally to ksh 9.891 billion compared to ksh 9.857 billion in the same period last year. The profit before tax grew by 16.3% to ksh 517 million from ksh 445 million.
Profit after tax grew by 101.58% to ksh 383 million compared to ksh 190 million in the previous period. EPS also had a 222.45% increase from ksh 0.49 to ksh 1.58. The good performance was attributed to the steady growth in the net earned premium coupled with the robust savings in the operating expenses which declined by 8% year on year.
