{"id":13492,"date":"2020-08-28T19:16:22","date_gmt":"2020-08-28T19:16:22","guid":{"rendered":"https:\/\/www.africa-press.com\/kenya\/?p=13492"},"modified":"2020-08-28T19:31:09","modified_gmt":"2020-08-28T19:31:09","slug":"jubilee-holdings-profit-flat-at-sh1-8b","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/economy\/jubilee-holdings-profit-flat-at-sh1-8b","title":{"rendered":"Jubilee Holdings\u2019 profit flat at Sh1.8b"},"content":{"rendered":"<p><strong>Author:\u00a0Peter Theuri<\/strong><br \/>\n<strong>AfricaPress-Kenya:<\/strong> Jubilee Holdings\u2019 net profit remained flat at Sh1.8 billion for the first six months of 2020 compared to same period last year amid devastating effects of coronavirus pandemic.<\/p>\n<p>The insurer saw its net premium revenue rise slightly from Sh9.56 billion to Sh10.14 billion as at the end of June 2020. Group Chairman Nizar Juma said the pandemic had severely impacted insurance operations globally.<\/p>\n<p>\u201cThe first half of the year was characterised by significant macroeconomic and financial impacts resulting from the Covid-19 pandemic,\u201d he said.<\/p>\n<p>Despite the unprecedented circumstances, he said, the company\u2019s half-year results demonstrated a \u201cresilient operating performance and confirms the group\u2019s conservative and prudent approach to both the insurance and investment components of our business\u201d.\u00a0The pandemic had mixed impact on the firm\u2019s different lines of business.<\/p>\n<p>While overall growth in premiums stalled, the group registered lower claims in motor and health insurance.\u00a0It however experienced increased surrenders and withdrawals within the life insurance operations.\u00a0The company said it had initiated efficiency measures across all companies to control expenses, which resulted in savings against budget at the half year.<\/p>\n<ul class=\"list-group readmore my-3\">\n<li style=\"list-style-type: none\"><\/li>\n<\/ul>\n<p>Jubilee Holdings Regional Chief Executive Julius Kipng\u2019etich said they had put in place the necessary \u201cwork from home\u201d measures to ensure all business processes continued without interruptions.<\/p>\n<p>\u201cAdditionally, the group accelerated the innovation and digital transformation process to provide online sales to customers through the launch of the self-service digital portal,\u201d he said.\u00a0The Life business accounted for 37 per cent of the group\u2019s gross written premiums as the firm put in place measures to protect its policyholders and introduced a raft of waivers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Author:\u00a0Peter Theuri AfricaPress-Kenya: Jubilee Holdings\u2019 net profit remained flat at Sh1.8 billion for the first six months of 2020 compared to same period last year amid devastating effects of coronavirus pandemic. The insurer saw its net premium revenue rise slightly from Sh9.56 billion to Sh10.14 billion as at the end of June 2020. Group Chairman [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":13486,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[939,3686,3687,3685],"class_list":["post-13492","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-coronavirus","tag-insurance","tag-jubilee-holdings","tag-jubilee-insurance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Jubilee Holdings\u2019 profit flat at Sh1.8b - kenya<\/title>\n<meta name=\"description\" content=\"Jubilee Holdings\u2019 net profit remained flat at Sh1.8 billion for the first six months of 2020 compared to same period last year amid\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/economy\/jubilee-holdings-profit-flat-at-sh1-8b\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jubilee Holdings\u2019 profit flat at Sh1.8b\" \/>\n<meta property=\"og:description\" content=\"Jubilee Holdings\u2019 net profit remained flat at Sh1.8 billion for the first six months of 2020 compared to same period last year amid\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/economy\/jubilee-holdings-profit-flat-at-sh1-8b\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2020-08-28T19:16:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-08-28T19:31:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2020\/08\/jubilee_holdings_5f47e41c7df27.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/jubilee-holdings-profit-flat-at-sh1-8b#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/jubilee-holdings-profit-flat-at-sh1-8b\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Jubilee Holdings\u2019 profit flat at Sh1.8b\",\"datePublished\":\"2020-08-28T19:16:22+00:00\",\"dateModified\":\"2020-08-28T19:31:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/jubilee-holdings-profit-flat-at-sh1-8b\"},\"wordCount\":278,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/jubilee-holdings-profit-flat-at-sh1-8b#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2020\/08\/jubilee_holdings_5f47e41c7df27.jpg\",\"keywords\":[\"Coronavirus\",\"Insurance\",\"Jubilee Holdings\",\"Jubilee Insurance\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/economy\/jubilee-holdings-profit-flat-at-sh1-8b#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/jubilee-holdings-profit-flat-at-sh1-8b\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/economy\/jubilee-holdings-profit-flat-at-sh1-8b\",\"name\":\"Jubilee Holdings\u2019 profit flat at Sh1.8b - 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