Britam has posted a half year net profit of Sh. 1.77 billion. This profit followed a jump of 184 per cent from the Sh. 624 million that the firm posted in a similar period last year.
The profit came after Britam announced that it had posted a 2015 full year loss of Sh. 1 billion earlier in the year.
“The overall business is looking healthy, and the shift in investments that made us lower our share of equities cushioned us from the NSE bear run,” said Gladys Karuri, Britam’s finance and strategy director.
Britam’s investment income was up 41 per cent to Sh.2.4 billion while its share of equities was recorded at 16 per cent of its Sh. 81.7 billion assets, down 25 per cent from 2015.