Britam's net profit drops to Sh995 mn on higher insurance claims

Britam Group MD Benson Wairegi with businessman Jimnah Mbaru. FILE PHOTO | NMG

Financial services firm Britam Holdings' #ticker:BRIT net earnings for the half-year period ended June 30 fell 44 per cent on increased claims payments, the NSE-listed firm reported Thursday.

Net profit dropped to Sh995.09 million from Sh1.78 billion a year earlier, reflecting the impact of last year's switch to a new methodology of accounting for liabilities.

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