NAIROBI: Kenyan insurer Jubilee Holdings said pre-tax profit climbed 25 percent as its gross written premiums surged. Jubilee, which also operates in Uganda, Tanzania, Rwanda, Burundi and Mauritius, said pre-tax profit for the year rose to 3.95 billion shillings ($43 million) from 3.15 billion shillings a year earlier. The insurer said its gross written premiums jumped 30 percent in 2014 to 30.35 billion shillings. Insurance is seen as a growth area in the economy of Kenya, where only about 8 percent of the population has any form of coverage.
Earnings per share rose 26 percent to 48 shillings.
Jubilee’s board of directors recommended a bonus share issue of one for every 10 held and the payment of a final dividend of 7.50 shillings per share, subject to withholding tax, making it a total of 8.50 shillings for the year.
