Jubilee keeps dividend despite marginal fall in net earnings to Sh4bn

Friday, May 22, 2020 0:01

By OTIATO GUGUYU

Jubilee Holdings chairman Nizar Juma.

FILE PHOTO | NMG 

Jubilee Insurance #ticker:JUB has kept dividend unchanged despite a marginal 2.6 percent drop in net profit to Sh4 billion in the year to December.

Details and Notice of the AGM will be issued in due course,” said Jubilee Insurance Group chairman Nizar Juma.

Insurance companies are facing challenging times, especially those in health insurance following the coronavirus outbreak that has affected 1,029 Kenyans with 50 succumbing to the disease.

Although pandemics are not covered in insurance contracts, Kenyan regulators have pushed insurers to cater for the costs raising the danger of elevated claims this year in a medical sector that recorded an underwriting loss of Sh75 million last year.