Jubilee Holdings Limited has reported a 30% increase in profit before tax to Ksh 4.4 billion for the six months ended June 2026. Net Profit rose 13% to Ksh 3.4 billion from Ksh 3.1 billion reported in the same period last year. The board has declared an interim dividend of Ksh 2 per share, totalling Ksh 145 million.
According to the results, total assets grew by 9% to Ksh 272.7 billion, from Ksh 251.1 billion, driven by growth in the investment portfolio and continued business expansion. Insurance revenue stood at Ksh 16.9 billion, a 1% growth from the same period last year, positively impacted by good performance in the life business at 14% increase and offset by a deliberate focus of profitable portfolios to drive sustainable growth in the health business.
Insurance service result declined by 60% to Ksh 445 million, driven by a high claims experience and medical inflation impacting the health business. This was partly offset by positive growth in the life business at 52%. The asset management business sustained strong growth, with retail Assets Under Management more than doubling year-on-year by 116% to Ksh 33 billion, alongside an 18% increase in overall Assets Under Management.
JHL Chairman Zul Abdul noted that the performance provides a solid foundation for continued progress. “More importantly, it demonstrates the solid foundation we are building for long-term growth,” Mr Abdul said. “We have continued to sharpen our portfolio and deploy capital where it can create the greatest value, with the conclusion of the sale of our remaining stake in SanlamAllianz Uganda marking an important step in this journey.”
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Following the recent amalgamation of life and health insurance companies, the Uganda business delivered a significant turnaround, demonstrating stronger profitability and greater stability, while attaining the No. 1 position in the market. The integration brings together complementary capabilities and greater scale, enabling the business to drive operational efficiencies, enhance customer value and unlock new revenue opportunities.
During the period, Jubilee Insurance transitioned its corporate brand to Jubilee Group, marking a significant milestone in its evolution towards delivering diversified financial services solutions. The new identity reflects its breadth and strength, as well as its ability to leverage its collective capabilities to create greater value for customers and shareholders across its markets.
The Group is listed on Nairobi Securities Exchange, Dar es Salaam Stock Exchange, and Uganda Securities Exchange as Jubilee Holdings Limited.
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