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Jubilee net profit up 22pc in H1 on increased insurance income
Jubilee Holdings Deputy Group CEO Juan Cazcarra, Group Chairman Zul Abdul and Group CEO Julius Kipngetich during the release of the Company's Half Year Financial Results at Jubilee Headquarters Offices in Upper Hill, Nairobi on August 28, 2025.
Jubilee Holdings’ net profit for the six months ended June 2025 has increased by 21.7 percent to Sh3.06 billion on increased income from insurance, helping the underwriter maintain a Sh2 per share interim dividend.
The rise in half-year net profit from Sh2.51 billion came in a period when insurance service revenue—which is money from written premiums—rose 32.6 percent to Sh16.68 billion from Sh12.58 billion. Jubilee said the life business grew by 44 percent as the health unit posted a 29 percent growth.
Jubilee said the profit growth was driven by improved sales, claims control, and technology-driven efficiency. Insurance service result, which is the difference between insurance revenue and insurance service expenses, improved to Sh1.1 billion from Sh959.92 million.
“These results reflect the steady progress we are making as a group, anchored on efficiency, disciplined strategy execution, and above all, the trust of our customers. We continue to strengthen our business through digital innovations, customer-centric solutions, and sustainability initiatives, all aimed at delivering long-term value for our stakeholders,” said Zul Abdul, the chairman of Jubilee.
On the back of improved profits, Jubilee has maintained dividends at Sh2 per share, amounting to Sh144.95 million, being the same amount as that paid in a similar period last year. Jubilee said it will pay the interim dividend on or about October 9 to members on the company’s register at the close of business on September 8.
Jubilee Holdings Deputy Group CEO Juan Cazcarra, Group Chairman Zul Abdul and Group CEO Julius Kipngetich during the release of the Company's Half Year Financial Results at Jubilee Headquarters Offices in Upper Hill, Nairobi on August 28, 2025.
Photo credit: Bonface Bogita | Nation
The interim payout follows the Sh11.50 per share dividend that shareholders were given last month as final payout on the 2024 full-year performance, in which they had also received an interim distribution of Sh2 on each share.
Jubilee in 2022 rolled out a digital strategy in which it committed to spend Sh2.25 billion, spread over five years, on digital transformation, including investing in robotics, artificial intelligence, and data analytics as it eyes customised covers and improved service delivery.
The digital investment has helped the insurer speed up its claim processing time while improving fraud detection capabilities. For instance, in the year ended December 2024, Jubilee foiled fictitious insurance claims worth Sh400 million, highlighting the gains of enriching their digital systems with artificial intelligence (AI) capabilities.
The insurer, which has operations in Kenya, Uganda, Tanzania, and Burundi, said it deployed a fraud detection tool that is supported by AI, which helped it identify and act on 536 suspicious cases in 2024.
The insurer handles more than 4,000 claims daily without human intervention, helping speed up service delivery while navigating the challenges of fraud. Industry estimates put fraud prevalence at 20 percent of total claims.
The insurer also introduced Maisha Fiti 2.0, the wellness app that includes telemedicine, teleconsultation, self-navigation, community engagement, and access to informative articles and events.
