Jubilee Insurance Makes Over 4Million Profit

Photo: Jubilee Insurance chairman Nizar

According to a report by the standard on 21st March the Jubilee insurance company made a profit of over 4 billion.

However, Jubilee holdings insurance manager expressed dissapointment after they registered a slight decrease in the profit margin from the past financial year.

In the financial year of 2018 to 2019 they recorded a profit of Ksh 4.13 billion against the latest profit of Ksh 4.02 billion.

The chairman Nizar said that they had lower insurance results of Sh2.63 billion compared to Sh2.89 billion in 2018 and this can be attributed to a lower share of profit among the investors in the Jubilee company.

The company registered a growth in the company assets by 14 per cent to Sh130.08 billion from Sh114.19 billion, as the company sharebeares equity grew up to Ksh 28.25 billion.

The Jubilee insurer registered overall growth to Sh11.48 billion, but with a disappointment underwriting loss of Sh480 million.

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