APA Insurance profit jumps 38 per cent

Apollo Group Chief Executive attributes the rise to strategic interventions by the bank.[PHOTO: DAVID GICHURU/STANDARD]

APA Insurance has announced a 38 per cent growth in its profits before tax for the year ended  December 31, 2014, citing increased incomes from a strong performance of its investments.

The firm’s profit before tax climbed to Sh838 million, up from Sh609 million recorded in a similar period last year, with the Kenyan operations generating about 91 per cent of the profits.