Jubilee Holdings’ half-year profit rose 13% to KSh 3.45Bn, its highest since 2021, as total assets climbed 19% to a record KSh 272.69Bn.

Profit has now increased for three consecutive half-years since 2023, although insurance service profit fell 60% to KSh 445Mn, with stronger insurance finance and other income supporting the overall result.
Profit before tax increased 30% to KSh 4.43Bn from KSh 3.40Bn a year earlier, while total equity rose 8% to KSh 58.30Bn.
The group said in June that it plans to accelerate retail expansion across East Africa, while a July partnership with FSD Africa targets doubling its customer base.

Investment assets expanded 19% to KSh 246.49Bn, accounting for about 90% of the group’s assets at the end of June. Jubilee maintained its interim dividend at KSh 2.00 per share, unchanged since 2023.

The earnings mix shifted during the period. Insurance service revenue increased 1% to KSh 16.88Bn, but insurance service expenses rose 5% to KSh 16.10Bn and net reinsurance expenses increased to KSh 334Mn from KSh 192Mn. That pushed the insurance service result down from KSh 1.10Bn in the first half of 2025.

The decline was offset elsewhere. Jubilee’s net insurance finance result increased 46% to KSh 2.34Bn, while other income rose to KSh 1.64Bn from KSh 697Mn.

The latest result continues a run of rising half-year profits since the adoption of IFRS 17. Profit increased from KSh 2.04Bn in 2023 to KSh 2.51Bn in 2024, KSh 3.06Bn in 2025 and KSh 3.45Bn in 2026. The last higher first-half profit was KSh 4.51Bn in 2021, when earnings included gains from Jubilee’s disposal of general insurance businesses.

Operating cash generation moderated to KSh 2.76Bn from KSh 3.22Bn, while investing activities used KSh 3.18Bn. Jubilee closed June with KSh 6.14Bn in cash and cash equivalents.

The results come as Jubilee broadens its financial-services business beyond insurance. The group said in June that it plans to accelerate retail expansion across East Africa, while a July partnership with FSD Africa targets doubling its customer base.

Jubilee Asset Management has also expanded rapidly. The subsidiary reported external assets under management of KSh 22.1Bn at the end of 2025, up 148%, before Jubilee said total assets managed across retail and institutional mandates had reached KSh 259Bn by August 2026.

Jubilee Holdings' Half-Year Rises to KSh 3.45Bn Despite 60% Drop in Insurance kProfit