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 we are focused on prudent investment strategies to maximise shareholder value and drive sustainable growth.”
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Operating expenses more than doubled to KSh364.8 million from Sh152.4 million in 2022 in the year under preview.
The CEO added that performance of Jubilee across key metrics was steered by attractive returns from investment and a 15 per cent increase in insurance service revenue.
Gross written Premiums for the period of one year increased by 31 per cent to KSh11.8 billion.
All sections such as retail, corporate, and SME performed well recoding a double growth as a result of innovative path and resilient business model adopted by the organisation.
Therefore, the shareholders of the insurance insurance company will reap well after the company announced a 36 per cent rise in earnings a share.
By our reporter
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