In a significant move that underscores its stability and financial prowess under the new International Financial Reporting Standard (IFRS) 17, Jubilee Holdings Limited Board declared an interim dividend of KES 2 per share, totaling an impressive KES 145 million.
This announcement reaffirms shareholder confidence in the company’s consistent profitability and resilience in the face of evolving industry standards. The company’s half-year Profit Before Tax (PBT) stood at a commendable KES 2.4 billion. Excluding gains from the sale of the General Insurance business to Allianz and the influence of IFRS 17, the Group showcased a remarkable 9% growth in PBT compared to the same period last year. Notably, this outstanding performance comes despite the strategic decision to divest the General business to Allianz.
One of the key indicators of Jubilee Holdings’ robust financial position is the 12% growth in Total Assets, soaring from KES 161 billion to KES 181 billion. This expansion underscores the company’s ability to fulfill its financial commitments and maintain a solid footing in the market. Additionally, the Group’s Insurance Service Revenue demonstrated an impressive 11% growth, climbing from KES 8.8 billion to KES 9.8 billion.
Speaking about the company’s digital transformation initiative, Chairman Nizar Juma expressed, “The initial phase of the Changamk@ project has revolutionized our business operations while providing a strong foundation to make insurance more accessible and user-friendly for a wider customer base. The second phase will harness data-driven insights, artificial intelligence, and seamless digital interfaces to redefine how different audiences perceive and experience insurance. Our digital transformation journey not only revolves around adopting technology but also centers on prioritizing our customers’ needs at the core of our business.”
Julius Kipngetich, Group CEO of Jubilee Holdings, emphasized the company’s commitment to making a positive impact on society, stating, “As a leading insurance company, we understand our responsibility to contribute positively to the world around us. By focusing on sustainability, ethical governance, and community engagement, we are not only shaping the future of our business but also working towards the betterment of the communities we serve.”
Jubilee Holdings Limited’s financial performance and commitment to innovation and community well-being underscore its position as a market leader in the insurance sector. The company’s ability to adapt to changing industry standards while maintaining consistent growth highlights its dedication to both its shareholders and the wider community.
