The Lower Eastern Times Opening The Third Eye
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Jubilee Holdings has revealed a record dividend payout of Sh978 million for the 2024 financial year, driven by a strong performance that saw the insurer’s profit before tax reach Sh6.2 billion.
At the company’s 87th Annual General Meeting (AGM) in Nairobi, shareholders approved a final dividend of Sh11.50 per share. Adding to the interim dividend of Sh2.00 already distributed, the total dividend for the year amounts to Sh13.50 per share, the highest in Jubilee’s history.
“We are pleased to deliver this exceptional return to our shareholders. It reflects our solid performance and positive outlook for the future,” said Chairman Zul Abdul, emphasizing that the payout demonstrates the insurer’s financial strength and its long-term growth vision.
The record dividend comes after a strong financial year ending in April 2025. Jubilee Holdings reported a Profit Before Tax of Sh6.2 billion, excluding gains from the earlier Jubilee Allianz deal. Gross Written Premiums surged by 34% to Sh53 billion, and Insurance Revenue grew 14% to Sh25.7 billion.
CEO Julius Kipngetich credited the company’s success to its market leadership in medical insurance across Kenya, Uganda, and Tanzania. He pointed out that the low insurance penetration in East Africa—2.3% in Kenya, 0.6% in Tanzania, and 0.9% in Uganda—presents significant growth potential.
“There remains a huge opportunity for expansion in health, life, and investment services, given the rising demand for accessible and affordable coverage,” Kipngetich said.
Jubilee’s record dividend marks a significant milestone in its transformation, reinforcing its commitment to shareholder value while positioning the company for further growth in East Africa’s underserved markets.
