Jubilee Holdings profit jumps 18 per cent on increased revenue

From left: Jubilee Holdings Limited Deputy Group CEO Juan Cazcarra, director John Metcalf, Chairman Zul Abdul and Group CEO Julius Kipngetich during the release of financial results. [File, Standard]

Jubilee Holdings has reported an 18 per cent increase in profit after tax to Sh5.55 billion for the year ending December 2025, which it attributed to higher insurance revenues and improved service performance.

This was an increase from Sh4.72 billion that the insurer made in 2024. The insurer has recommended a dividend of Sh15, an increase of 11 per cent from Sh13.5 paid in 2024. 

The company’s gross written premiums and deposit administration contributions grew by 18 per cent to Sh62.4 billion, from Sh53 billion a year earlier, boosted by double-digit growth in both its Life and Health businesses.

Jubilee Holdings chairman Zul Abdul said the financial results were underpinned by a disciplined strategic focus on innovation, operational excellence and long-term value creation. 

“JHL has delivered another year of strong profitability despite a challenging operating environment, reaffirming a track record of consistent growth. Building on this momentum, we remain focused on creating sustainable value and unlocking new opportunities for all our stakeholders,” he said.

Jubilee’s net assets grew by nine per cent to Sh55.6 billion, which the firm noted was supported by its implementation of a multi-pillared strategy centred on digital innovation, cost management, and a widening regional footprint. 

During the year, the group amalgamated its health and life businesses in Uganda, which it expects to improve efficiency and product delivery.

Jubilee’s asset management business also registered growth, with external assets under management surging to Sh22.1 billion, a 150 per cent year-on-year increase. 

It however said its health business experienced elevated claims in Kenya and Uganda, particularly within select corporate segments, weighing down the overall loss ratio. It added that corrective measures have been implemented to improve the outlook for 2026.

JHL Group CEO Julius Kipngétich said the results underscore the group's solid foundation and ability to navigate challenges effectively. 

“Building on our resilience, we remain focused on leveraging opportunities, driving innovation, and creating sustainable value for our customers, shareholders, and partners,” he said. 

JHL Deputy Group CEO Juan Cazcarra emphasised that the group’s investments in innovation and digitisation are driving sustainable, strategic growth.  

“By leveraging technology, we are empowering our people to focus on high-impact initiatives, deliver transformative solutions, and create lasting value for both the business and the communities we serve,” he said. 

“We are also establishing a dedicated AI team to drive disruption and unlock new opportunities, reinforcing Jubilee’s position at the forefront of innovation and market leadership.”