Jubilee Holdings has reported a sharp 82.5% rise in net profit to Sh4.72 billion for the year ended December 2024, driven by strong insurance growth and a rebound in investment income. As a result, the company has increased its ordinary dividend by 12.5% to Sh13.50 per share, totalling Sh978.4 million, the highest in its history.
Insurance revenue rose 13.6% to Sh25.68 billion, supported by affordable health plans and the flexible ‘Lipa Pole Pole’ payment option. Life insurance grew strongly, regaining the second position regional position, with premiums up 56% in Kenya and 58% in Tanzania.
Jubilee’s investment income bounced back to Sh4.07 billion from a loss of Sh275.9 million in 2023, helping fuel its profit surge.
The firm also marked significant progress in its asset management business, which now manages Sh12 billion for over 6,000 customers.
Jubilee continues to push sustainability, moving into a carbon-neutral, solar-powered office in Nairobi and supporting healthcare, education, and environmental causes.
The final dividend of Sh11.50 per share will be paid on or around July 25, 2025, to shareholders on record by May 28.
