Jubilee Insurance shareholders are set to pocket Sh13.5 per share in dividend. This dividend payout will be an increase of 12.5 percent on the dividend that was paid out by the company in the previous year.
The total amount to be paid out in dividend will be a record Sh978 million. Already, the insurance firm has paid out an interim dividend of Sh2 per share which amounted to Sh144.95 million.
This interim dividend was paid out in October 2023. The final dividend of Sh11.50 per share will be paid out on or around July 25, 2025 and will amount to Sh833.4 million to bring the total dividend to Sh13.50 per share for a combined total of Sh978 million.
This follows an 82 percent growth in the insurer’s net profit to Sh4.72 billion for the full year ended December 2024. In a similar period the previous year, Jubilee Insurance had recorded a full year net profit of Sh2.6 billion.
During the year under review, the company’s gross written premiums grew by 34 percent to Sh53 billion, up from Sh39.6 billion in the 2023 financial year. Total assets grew by 12 percent from Sh190.5 billion to Sh213.6 billion.
Revenue from the insurance business increased by 13.6 percent to Sh25.68 billion. On the other hand, insurance expenses including reinsurance costs increased by 13.4 percent to Sh24.98 billion while investment income increased to Sh4.07 billion from the previous loss of Sh275.9 million.
At the same time, during the year, the life business regained the second position across the region, driven by a 56 percent growth in Kenya and 58 percent growth in Tanzania while the asset management business, recently launched in Kenya, accumulated Sh12 billion of assets under management and over 6,000 customers attributed.
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This was attributed to superior offerings, competitive returns and customer experience. “We recognize that our business goes far beyond insurance – we are catalysts for progress, driving meaningful change across society. Through strategic initiatives, we are improving lives and safeguarding the planet, ensuring a sustainable and inclusive future for generations to come,” said Jubilee’s chief executive officer Julius Kipngetich.
The Jubilee shares closed trading on Thursday April 3, 2025, at an average trading price of Sh203.75 per share. This was a gain of 7.24 percent from the previous day’s trading average of Sh190 per share. The counter has experienced a one-year high of Sh227 per share and a one-year low of Sh150 per share.
