Jubilee Health Insurance Reports 142% Profit Surge in 2024, Reinforces Market Leadership And Customer-Centric Innovation

Jubilee Health Insurance Limited (JHIL), a subsidiary of Jubilee Holdings, has announced stellar financial results for the year that ended on 31 December 2024, underscoring its resilience, innovation, and unwavering focus on delivering accessible, affordable healthcare in a fast-evolving market.

JHIL reported a profit before tax of KES 1.22 billion, a 142% increase from KES 506 million in 2023. Net profit rose to KES 910 million, more than double the KES 438 million recorded the previous year. This growth reflects Jubilee Health’s disciplined execution, continued investment in digital health solutions, and a relentless drive for operational efficiency and impact.

“This performance is a reflection of our purpose-driven culture and our promise to walk with every Kenyan on their healthcare journey,” said Njeri Jomo, CEO and Principal Officer of Jubilee Health Insurance. “We continue to invest in innovative digital platforms, strong provider partnerships, and customer-centered programs like ‘Always With You, ’ ensuring we serve not only more people—but serve them better.”

In 2024, the company significantly strengthened its operational backbone by embracing AI-powered claims adjudication, enhancing digital self-service tools, and deepening real-time integrations with healthcare providers—enabling faster, more transparent service delivery for both customers and medical partners.

Jubilee Health Insurance’s transformative efforts earned it two major industry accolades in 2024, amongst others:

• Health Financier of the Year – Kenya Medical Association (KMA)
• Company of the Year – Women on Boards Network (WOBN)

These awards are a validation of the trust that Jubilee Health Insurance has earned across the healthcare ecosystem. As the leading private health insurance payer to most hospitals in Kenya, JHIL plays a critical role in the continuity of care across thousands of healthcare facilities.

The Health Financier of the Year award from KMA recognizes JHIL’s role in enabling access to quality healthcare for millions of Kenyans by ensuring timely payments to hospitals and healthcare providers. This strengthens the entire healthcare delivery chain from frontline clinicians to specialized care units.

The Company of the Year award from WOBN celebrates Jubilee Health’s commitment to inclusive leadership, sustainable business practices, and a customer-first innovation culture—demonstrating that it is possible to grow profitably while delivering meaningful value to society.

The company’s total equity rose to KES 5.1 billion, signaling sustained value creation for shareholders, customers, and service providers. Its 2024 financial statements, audited by KPMG Kenya, received an unqualified opinion, affirming full compliance with IFRS 17 standards and continued transparency in financial reporting.

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