Agha Khan fund nets over Sh200 million in Jubilee dividends

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Jubilee Insurance top ten shareholders will carry home about Sh335 million in total dividends after the company posted a 15 percent rise in after-tax profits to Sh4.2 billion.

Jubilee Holdings Board declared a final dividend of Sh8 for a combined interim and final dividend of Sh9 per share, for a total dividend payout of Sh652.3 million.

According to the firm’s annual report of 2016, the top ten owners are led by the Agha Khan Fund for Economic Development with 37.9 percent stake and Pyrus Limited with 10.2 percent ownership who will take the huge chunk of the money.

The other 8 owners hold less than 2 percent stake in the business.

Earnings per share also rose to Sh54.26 from Sh45.49 in the previous year, an increase of 19 percent in shareholder value.

Jubilee Holdings has cemented its position as East Africa’s largest insurer with a 15.9 percent increase in total assets which now stand at over Sh104.96 billion from Sh90.56 Billion in the prior year.

The overall Gross Written Premium and Contributions grew marginally from Sh33.81 billion to Sh33.94 billion.

The short-term business underwriting results grew by 83 percent to stand at Sh1.41 billion.

The Insurance firm has also rolled out the first bot or AI-powered assistant chatbot “Julie” – Jubilee Insurance Live Intelligent Expert which assists with everyday insurance queries just like a customer care representative.

Management says that they are also poised to take advantage of Uganda’s Bancassurance Act which was passed and the regulations on how the Act will be implemented have been rolled out.

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