Jubilee Breaks Records with KES 6.2B Profit
Jubilee Breaks Records with KES 6.2B Profit
Insurance Giant Posts Its Strongest Financial Performance Yet
Jubilee Holdings Limited (JHL) https://jubileeinsurance.com/ke/jubilee-holdings-limited/ has reached a historic milestone. For the first time in its 87-year history, the Group reported a Profit Before Tax (PBT) of KES 6.2 billion for the year ended December 2024.
This achievement underscores the Group’s market leadership and sustained growth across East Africa. Despite challenging market conditions, Jubilee delivered a robust performance, reflecting strong execution of its long-term strategy.
Premiums and Assets Soar as Dividends Reach Record High
In a year of strong financials, Gross Written Premiums (GWP) rose by an impressive 34%. The total hit KES 53 billion, up from KES 39.6 billion in 2023. This jump highlights the company’s ability to retain and attract customers across all segments.
Jubilee Breaks Records with KES 6.2B Profit
At the same time, Total Assets expanded by 12%, moving from KES 190.5 billion to KES 213.6 billion. This reflects Jubilee’s growing financial strength and long-term investment capacity.
Moreover, the Board has recommended a record dividend payout of KES 978 million. Shareholders will benefit from KES 13.5 per ordinary share, a move that signals Jubilee’s strong commitment to value creation.
Chairman Mr. Zul Abdul emphasized this sentiment:
“Our record-breaking results prove the strength of our business model. We remain focused on sustainable value for shareholders and the communities we serve.”
Business Units Drive Regional Growth and Inclusion
Jubilee’s Health business continued to dominate the regional market. It retained its No. 1 position in both Kenya and Uganda, and held strong at No. 2 in Tanzania. Furthermore, the introduction of Lipa Pole Pole, a flexible payment plan, has enabled more customers to access affordable healthcare.
Meanwhile, Jubilee’s Life insurance segment recorded a strong comeback. Growth reached 56% in Kenya and 58% in Tanzania, lifting the business back to the No. 2 spot across the region. This rebound reflects the effectiveness of customer-centric product offerings.
In addition, the company’s new Asset Management arm in Kenya has gained momentum. In just one year, it accumulated KES 12 billion in Assets Under Management and attracted over 6,000 customers. This rapid uptake is credited to strong returns, digital convenience, and top-tier customer experience.
A Vision That Goes Beyond Business
While the numbers are impressive, Jubilee’s mission runs deeper. The Group continues to position itself as a catalyst for change—both socially and environmentally.
Dr. Julius Kipngetich, Group CEO, said:
“Our purpose extends beyond profits. We are investing in people, protecting the planet, and delivering products that create inclusive progress.”
Looking ahead, Jubilee plans to scale its digital transformation, launch innovative products, and deepen its footprint in East Africa. By doing so, the Group aims to remain at the forefront of the industry—while empowering communities and driving shared prosperity.
