Njeri Jomo, CEO and Principal Officer of Jubilee Health Insurance. Photo | courtesy.
Jubilee Health Insurance Limited has posted a remarkable 107.6 percent surge in its profit after tax for the financial year ended 2024, supported by strong growth in insurance revenue and investment income.
According to audited financial results released, the insurer recorded a profit after tax of Sh910.5 million, up from Sh438.5 million in 2023.
This performance was supported by a 32.2 percent increase in insurance revenue, which rose to Sh13.5 billion from KES 10.2 billion the previous year.
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Net investment income also played a significant role in the company’s performance, growing by 47.7 percent to Sh944.7 million, compared to Sh639.8 million in 2023.
“Our performance is a testament to our continued focus on innovation, customer-centric service, and strategic investments,” said Njeri Jomo, CEO and Principal Officer of Jubilee Health Insurance.
The company’s gross written premiums also rose by 18.1 percent to Sh13.9 billion, highlighting increased market confidence and customer uptake.
Retained earnings reached Sh2.43 billion, a 46.0 percent increase from the previous year.
Jubilee Health was recently recognized as the Company of the Year 2024 by the Women on Boards Network (WOBN), the Health Financier of the Year 2024 and the Kenya Medical Association.
