Jubilee profits up by 19 percent - Jubilee Insurance

Added Mr Juma “Despite being the number one insurer in all these countries, we are good
global Corporate Citizens. We pay all our taxes and observe the best practices in everything
we do. Most importantly, each day, we demonstrate to the world that it is possible to
develop and become a leader in our business in East Africa, without resorting to graft, for
which we have zero tolerance.”
Today Jubilee is also an equity partner in Kenya’s first independent power producer: Tsavo
Power Company in Kipevu, which has increased the generation capacity in Kenya by over
20% and the US$860 million Bujagali Power project in Uganda which is now providing
Uganda’s power needs. With its affiliate IPS, Jubilee is a major investor in SEACOM – the
first fiber optics submarine cable that stretches 15,000 kms from South Africa to France,
and provides communication to all the countries on its path at a fraction of the previous cost
(based on satellite). Jubilee also has investments in banking, tourism, food processing and
many other enterprises in Kenya and East Africa.
Investment income recorded a 47 percent growth to Kshs1.442 billion in the first half of
2012. Group profit after tax attributable to shareholders grew by 17.3 percent to
Kshs666.1 million in the first half of 2012 from Kshs568 million recorded in the same period
in 2011.
The Jubilee Group declared dividend of 110 percent, and a 1:10 bonus share issue in May
2012. Earnings per share rose to Kshs11.1 in the first six months of 2012 from Kshs9.5 in
the previous year.
Ends..
About Jubilee Insurance
Started in 1937, Jubilee Insurance has spread its sphere of influence throughout the region
to become the largest composite insurer in East Africa, and in Uganda, Tanzania and Kenya.
Jubilee’s operations in Burundi and Mauritius have also picked well since their launch in
2010. Today, Jubilee serves over 300,000 clients, and is also the number one Medical
insurer and General insurer in East Africa. It is the only ISO certified insurance group (with
two accreditations – UKAS (United Kingdom Accredited Standards) and ANAB (American
National Accreditation Board) and listed on the three East Africa stock exchanges – The
Nairobi Securities Exchange (NSE), Dar es Salaam Stock Exchange and Uganda Securities
Exchange.
For further press information, please contact:
Catherine Ndioo on Email: Catherine.Ndioo@jubileekenya.com or Office: +254 (020)
3281000 DL: +254 (020) 3281089 Cell: +254 720 805940
Website: www.jubileeinsurance.com Media Center:
http://www.jubileeinsurance.com/ke/about-us/news/press-releases