Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
The Kenya Deposit Insurance Corporation (KDIC) has intensified its dispute with Absa Bank Kenya regarding a KSh215 million refund claim made by the bank, concerning purported over payments in statutory deposit protection fund premiums. The lender listed on the Nairobi Securities Exchange (NSE), filed a legal action against KDIC on October 14, 2023, requesting a…
Kenya Reinsurance Corporation has posted a profit of KSh4.97 billion in the financial year ended December 2023 up from KSh3.5 billion posted in 2022. This has been realized as a result of net investment and insurance results that rose by 42 per cent to KSh8.19 billion, up from KSh5.78 billion in the previous year. This…
Jubilee Insurance has advertised vacancies for four jobs including Audit, Risk & Compliance Officer, Business Development Officer, Senior Accountant, Financial Reporting and Chief Distribution Officer. The closing date for all vacancies is June 2, 2024. Please visit the https://jubileeinsurance.com/ke/careers/ for more information. Founded in 1937, Jubilee Holdings Limited (JHL) has over over 1.9 million clients…
Jubilee Holdings will pay a total dividend payout of KSh1.04 billion for the full year ended December 2023 despite a decrease in profits compared to 2022. The insurance company recorded a KSh4.4 billion profit last year compared to KSh5.5 billion posted in 2022. In the full year to December 2022, the insurer issued a dividend…
Asman Mugambi Ibrahim has been appointed as the new Chief Executive Officer Jubilee Life Insurance. In a statement, Chairman and Board of Directors in a said that Asman possesses over 20 years of extensive industry experience. Asman holds a Bachelor of Science (First-Class Honours) in Actuarial Science from the University of Nairobi. He has worked…
Stima DT Sacco has been awarded the Winner in the Highest Shareholding Category Parastatal and the first Runners Up as the Best Insured Cooperative Society – Nairobi Region, at the Cooperative Insurance Society (CIS) Annual General Meeting 2024 held recently. The trophies were received by Sacco’s National Treasurer, CPA Mary Maalu. The event was held…
Former Public and Private Sector Cooperative Society (FOPPS) Sacco have entered into a contract with Cooperative Bank as the Last Expense Cover for its members. In a speech during the FOPPS Sacco Annual General Meeting at ACK Guest House in Amagoro, Busia County, National Chairman and founder Ben Akwara said the Last Expense Policy Cover…
Jubilee Health Insurance posted a net profit of KSh438.6 million for the Financial Year ended December 2023 representing a 29 per cent increase from the KSh339.1 million recorded in 2022. The insurer’s Chief Operating Officer Njeri Jomo, said the organization realised a three-fold increase in cash flows generated from operations. She added, “As a company…
The Policyholders Compensation Fund (PCF) has disbursed Ksh93.18 million in claims to 778 policyholders of three collapsed insurance firms dating back to June 30, 2023, the Fund’s Independent Trustee Deberious Sikuku has said. Speaking during a 5-day sensitization campaign in Kisumu, Sikuku noted that the beneficiaries include 724 former clients of Resolution Insurance Company who…
By Our Reporter Saccos are now scrambling into offering insurance cover for their members to earn commission as a key source of income to improve their much-needed balance sheet. While some societies have formed subsidiaries to execute the business, others have identified agencies to transact the business on their behalf. Medical cover for members…
