Jubilee Holdings Limited, a financial services holding company based in Nairobi (Kenya), released its financial results for the year ending December 2021 on Tuesday (April 5th). , compared to 44.34 million USD in 2020, an increase of 66%.

This growth is driven by the group's subsidiaries in Uganda, Burundi, Tanzania, Kenya and Mauritius.

The insurer also indicated that this performance is partly due to the sale of its majority stakes in the general insurance activities in Kenya and Uganda to the Kenyan insurance company Allianz. A situation which means that Allianz now controls 66% of Jubilee's insurance activities.

The medical insurance division saw an increase of 8% while profitability fell by 4.3 million USD following a 59% increase in claims. “The rise in earnings signals our renewed focus on taking advantage of emerging opportunities in 2022 by executing our brand strategy which is based on delivering the best service, strong operating profits and consistent value growth,” Nizar said. Juma, chairman of Jubilee Holdings.

In addition, following the increase in profits, Jubilee announced that it will pay a dividend of $0.078 per share, for a total of $8.82 million to shareholders in the region.

In its outlook, the group informed that it has embarked on an ambitious program of digital transformation in all of its activities in East Africa.