Jubilee posts a record profit

Jubilee’s expansion policy has borne fruit. The Kenyan insurer unveiled a pre-tax profit of 2.05 billion KES (26.2 million USD) in 2010, that is an increase of 84% over one year. Underwriting results have yielded a profit worth 523 million KES (6.6 million USD) in 2010 compared to 367 million KES (5 million USD) in 2009. Assets have risen by 27% at 31.65 billion KES (405 million USD). The company has recently opened subsidiaries in Burundi and Mauritius.