Jubilee Holdings Records Ksh 6.2 Billion In Profits, Highest In Its History

Jubilee Holdings has recorded a Profit Before Tax (PBT) of Ksh 6.2 billion for the year that ended December 2024. This marks the first time in the company’s history that PBT has surpassed the KES 6 billion mark, underscoring its sustained growth, strategic resilience, and market leadership in the insurance sector.

Gross Written Premiums (GWP) grew by 34% to KES 53 billion, up from KES 39.6 billion in FY 2023. This significant growth reflected strong performance across all business units and underscored the trust and confidence that customers continue to place in the Jubilee brand.

Total Assets grew by 12% from KES 190.5 billion to KES 213.6 billion, reinforcing the Group’s financial strength and strategic growth trajectory.

The Board has recommended a record dividend payout of KES 978 million, translating to KES 13.5 per ordinary share, reflecting the company’s commitment to delivering value to its shareholders.

Commenting on the results, JHL Group Chairman Mr. Zul Abdul said, “JHL’s strong performance is a testament to our resilience, strategic focus, and commitment to delivering sustainable value for our shareholders. We remain confident in our growth trajectory and our ability to seize new opportunities while strengthening our market leadership.”

The Health business further solidified market leadership, reinforcing its position as East Africa’s leading insurer (being #1 in Kenya, #1 in Uganda, and #2 in Tanzania). As part of its commitment to driving universal health coverage, the company introduced affordable insurance plans, along with an innovative payment option, Lipa Pole Pole, enabling individuals to pay premiums in flexible installments and enhancing access to quality healthcare.

The Life business regained the No. 2 position across the Region, driven by a 56% growth in Kenya and 58% growth in Tanzania.

The Asset Management business, that was recently launched in Kenya, has already accumulated KES 12 billion of Assets under Management and over 6,000 customers attributed to superior offerings, competitive returns and customer experience.

JHL Group CEO Dr. Julius Kipngetich reiterated that the company’s purpose goes beyond business, stating, “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.”

Through the Jubilee Children’s Fund, JHL continues to create a lasting impact by advancing access to education and healthcare. The Fund provides full secondary education scholarships, eye screenings, and treatments to address vision-related issues among schoolchildren. It also supports the provision of prosthetic arms and limbs, as well as free corrective ear surgeries and treatments, empowering children to lead healthier, more fulfilling lives. Through a recent partnership with Cure AIC Children’s Hospital Kenya, JHL has increased its impact in providing prosthetic arms and limbs, helping more children regain mobility and independence. To date, over 1,000 children have been positively impacted by these initiatives.

In January 2025, JHL relocated to a new, modern office complex within the Upper Hill financial district. This move not only enhances operational efficiency but also contributes to the environmental ESG targets, as the building is carbon neutral, running 100% on solar energy.

JHL Group Deputy CEO Juan Cazcarra highlighted the significant strides the company has made in its digital transformation, enhancing efficiency, customer experience, and operational excellence. “Our digital journey is unlocking new possibilities, allowing us to be more agile, innovative, and customer-centric than ever before. While we have made great progress, this is just the beginning. We will continue to push boundaries, leveraging technology to deliver tailored insurance solutions that anticipate and meet the evolving needs of our customers.”

During the year, JHL harnessed technology to drive efficiency, cost control, and superior customer experiences. The continued optimization of the Customer Relationship Management (CRM) platform improved service delivery and turnaround times, while AI-driven automation streamlined operations, enabling teams to focus on high-value customer engagement and strategic growth.

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