Jubilee profits up

Jubilee holdings has reported 2.14 billion shilling in pre-tax profit for the year 2011.the insurer posted a 39 percent increase in gross premium from last years figures effectively crossing the 15 billion mark. Life insurance business recorded a 35% growth, while short term business increased by 43%. Directors at jubilee have recommended a total dividend of 110% which equates to five shillings and 50cents per share.   The insurer attributed its results to product development drive in short term and long term business as well as  focus on of crop and livestock insurance, sme targeted products, retail medical products with the earnings per share increasing to kshs 33.10 .