Jubilee Holdings Limited has once again proved its resilience after announcing a Profit Before Tax of KShs. 5.206Bn; this represents an increase of 119% for the Half Year ended June 30th, 2021.
This significant jump was partly due to the gain of KShs. 2.074 billion, from the sale of 66% of its Kenyan General Insurance business to the Allianz group on May 4th, 2021.
However, the Profit Before Tax on the Insurance business grew by an impressive 32% from KShs. 2.377 billion to KShs. 3.132 billion. Total Gross Written Premiums and Deposit Administration contributions grew by 10% to KShs. 22.2 billion compared to KShs. 20.2 billion in 2020 due to a dynamic growth of 20% in Medical business and a 36% increase in Annualized Premium Equivalent sales.
This strong performance reflects Jubilee’s diversified business and investment portfolio that has proven robust against the backdrop of the Covid-19 pandemic and is now well positioned to benefit from the global and regional economic recovery.