Investors at Jubilee Holdings will receive an interim dividend of Sh2 per share after the firm posted a 23 percent growth in net profit in the first six months of the year.
Financial results released on Thursday show the diversified financial firm’s net earnings for the period under review hit Sh2.5 billion compared to Sh2.04 billion recorded in the same period last year.
This marks the first time since 2021 that the company’s earnings were unaffected by the 66 per cent stake sale of Jubilee General Insurance Company to Allianz SE.
The Group’s gross earnings rose by 21 per cent to Sh2.9 billion from the Sh2.4 billion registered in June 2023.
The increase was primarily driven by the core businesses (Life and Health) strong performance riding on improvement in sales, claims control and technology-driven efficiency.
Additionally, the company maintained a strong balance sheet, with total assets recording a six per cent growth from Sh191 billion to Sh202 billion.
The Asset Management business has also shown significant expansion, with the introduction of new products and branches, pushing retail Assets Under Management (AUM) to the Sh4 billion mark.
Jubilee Holdings Limited Chairman Zul Abdul said that the impressive half-year performance highlights the Group’s steadfast commitment to delivering strong returns for its stakeholders.
“This performance reflects the resilience of our core businesses and the success of our strategic initiatives, particularly in claims management and cost control,” Abdul said.
Since launching its digital transformation agenda, Changamk@, Jubilee Holdings has made remarkable strides toward becoming the most digitally advanced insurance group in the region.
This includes the ongoing deployment of a Customer Relationship Management (CRM) platform designed to enhance customer experience.
The Group has continuously integrated robotics, AI, and machine learning into its operations, which has significantly reduced claims processing time by 40 percent and bolstered fraud detection capabilities.
To further support the customers’ wellness journey, Jubilee Group has introduced Maisha Fiti 2.0, the wellness app that includes telemedicine, teleconsultation, self-navigation, community engagement, and access to informative articles and events.
Maisha Fiti 2.0 is designed to support users in every aspect of their wellness journey, offering the resources they need to lead healthier, more balanced lives.
“Our company is combining innovative digital tools with our deep industry expertise to enhance operational efficiency and address real market needs with precision and care,” JHL Group chief operating Officer Juan Cazcarra said.
“This approach keeps us agile and responsive, allowing us to create meaningful customer experiences while driving sustainable growth for the company.”
JHL Group CEO Julius Kipngetich said that the firm remains committed to Environmental, Social, and Governance (ESG) priorities and actively works to become a responsible corporate citizen.
“We have integrated Environmental, Social, and Governance (ESG) priorities into our core operations, ensuring that we not only fulfill our responsibilities as a corporate citizen but also make a tangible impact on the long-term well-being of the communities we serve.”
The Group has partnered with the Aga Khan Foundation to plant micro forests in community centers, including schools, churches, and mosques across East Africa.
