{"id":8177,"date":"2020-05-21T18:33:47","date_gmt":"2020-05-21T18:33:47","guid":{"rendered":"https:\/\/www.africa-press.com\/kenya\/?p=8177"},"modified":"2020-05-21T18:33:47","modified_gmt":"2020-05-21T18:33:47","slug":"jubilee-profit-in-slight-dip-to-sh4-billion","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/economy\/jubilee-profit-in-slight-dip-to-sh4-billion","title":{"rendered":"Jubilee profit in slight dip to Sh4 billion"},"content":{"rendered":"

AfricaPress-Kenya:<\/strong> Regional insurer Jubilee Holdings has announced a marginal drop in net profit for 2019.<\/p>\n

The firm said profit after tax dropped to Sh4.02 billion from Sh4.13 billion in 2018.This was on the back of lower insurance results of Sh2.63 billion compared to Sh2.89 billion in 2018, and a lower share of profits from investments in associates.<\/p>\n

Total gross written premiums and deposit administration contributions, however, grew 9.9 per cent during the period under review to Sh38.19 billion compared to Sh34.75 billion previously.<\/p>\n

Total comprehensive income after tax, on the other hand, rose by 9.6 per cent to Sh3.90 billion from Sh3.56 billion in 2018.<\/p>\n

The group\u2019s total assets increased by 14 per cent to Sh130.08 billion from Sh114.19 billion, while total shareholders\u2019 equity and reserves increased by 10.9 per cent from Sh25.47 billion to Sh28.25 billion.Group Chairman Nizar Juma termed the results \u201csolid\u201d despite the marginal drop in profitability, saying they had come against a challenging operating environment.<\/p>\n

\u201cWe are honoured by the faith our valued customers have bestowed upon us to enable us to contribute towards positively impacting their lives through our products and services,\u201d he said.The firm\u2019s long-term business posted a growth of 13.6 per cent to Sh15.89 billion, which included individual life growth of 16.3 per cent and group life (19.4 per cent).<\/p>\n

The medical business, on the other hand, posted growth of 8.9 per cent from Sh9.94 billion to Sh10.82 billion, with an underwriting profit of Sh721 million from all countries.\u00a0The general business grew by six per cent to Sh11.48 billion, albeit with an underwriting loss of Sh480 million.The company will soon be split into three entities as the listed insurer moves to comply with the regulatory requirement to separate long-term and short-term businesses.<\/p>\n","protected":false},"excerpt":{"rendered":"

AfricaPress-Kenya: Regional insurer Jubilee Holdings has announced a marginal drop in net profit for 2019. The firm said profit after tax dropped to Sh4.02 billion from Sh4.13 billion in 2018.This was on the back of lower insurance results of Sh2.63 billion compared to Sh2.89 billion in 2018, and a lower share of profits from investments […]<\/p>\n","protected":false},"author":84,"featured_media":8178,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[3686,3687,3685],"class_list":["post-8177","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-insurance","tag-jubilee-holdings","tag-jubilee-insurance"],"yoast_head":"\nJubilee profit in slight dip to Sh4 billion - kenya<\/title>\n<meta name=\"description\" content=\"Regional insurer Jubilee Holdings has announced a marginal drop in net profit for 2019.The firm said profit after tax dropped\" \/>\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-profit-in-slight-dip-to-sh4-billion\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jubilee profit in slight dip to Sh4 billion\" \/>\n<meta property=\"og:description\" content=\"Regional insurer Jubilee Holdings has announced a marginal drop in net profit for 2019.The firm said profit after tax dropped\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/economy\/jubilee-profit-in-slight-dip-to-sh4-billion\" \/>\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=\"2020-05-21T18:33:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eritrea\/sites\/28\/2020\/05\/jubilee_profit_in_sl5ec6860d9db94.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-profit-in-slight-dip-to-sh4-billion#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/jubilee-profit-in-slight-dip-to-sh4-billion\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Jubilee profit in slight dip to Sh4 billion\",\"datePublished\":\"2020-05-21T18:33:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/jubilee-profit-in-slight-dip-to-sh4-billion\"},\"wordCount\":292,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/jubilee-profit-in-slight-dip-to-sh4-billion#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eritrea\/sites\/28\/2020\/05\/jubilee_profit_in_sl5ec6860d9db94.jpg\",\"keywords\":[\"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-profit-in-slight-dip-to-sh4-billion#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/jubilee-profit-in-slight-dip-to-sh4-billion\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/economy\/jubilee-profit-in-slight-dip-to-sh4-billion\",\"name\":\"Jubilee profit in slight dip to Sh4 billion - 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