Jubilee Holdings Limited, East Africa's largest insurance group, has reported a 9.9 per cent growth in the Financial Year 2018/2019.
The statistics released by the board yesterday point to a rise in the business from 13.6 per cent to Ksh15.89 billion (Shs563.5 billion), which included Individual Life growth of 16.3 per cent and Group Life growth of 19.4 per cent.
Mr Nizar Juma, the firm's group chairperson, attributed the growth to the investment in providing value to its customers as well as its shareholders.
In the report, the firm posted a growth of 8.9 per cent from Ksh9.94 billion (Shs352.4 billion) to Ksh10.82 billion (Shs383 billion) with impressive underwriting profit of Ksh721 million (Shs25.5 billion) from all countries.
Revenues from jubilee general business grew by 6 per cent to Ksh11.48 billion (Shs407 billion) but with an underwriting loss of Ksh480 million (Shs17 billion).