Jubilee Holdings Shareholders Approve Final Dividend of Ksh 13.0 Per Share

Jubilee Holdings is the only ISO certified insurance group listed on the three East Africa stock exchanges – The Nairobi Securities Exchange (NSE), Dar es Salaam Stock Exchange and Uganda Securities Exchange.

The shareholders of Jubilee Holdings Wednesday approved a dividend of Ksh 13.0 per share during its Annual General Meeting. 

In a statement seen by Khusoko, this brings the total dividend to Ksh14.0 after achieving significant milestones in business and operations in the financial year 2021 where the Profit Before Tax stood at Ksh 8.4 billion, increasing by 66 per cent from the Ksh 5.1 billion reported 2020.

“This strong performance, despite the increase of medical and life claims relating to COVID-19 cases, was partly driven by the gain on the sale of controlling interests in the general businesses in Kenya and Uganda, transactions that were completed last year: Jubilee retains a 34% interest in both companies,” the Group said.

In 2021, Jubilee’s Gross Written Premium reached Kes 38.8 billion, an increase of Ksh 825 million. 

The growth, despite the loss of the general insurance business in Kenya and Uganda, was driven by the good performance in the health and life insurance business, which grew by Kshs 1.4 billion and Ksh 1.2 billion respectively.

The group’s total assets increased by Ksh 9 billion to Ksh155 billion from Ksh 146 billion in 2020, the largest in the industry.

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