In a remarkable financial performance that underscores the transformation of the health insurance sector, Jubilee Health Insurance profit surge for 2024 has reached a record 142%, positioning the company as a dominant force in health insurance in Kenya.
Jubilee Health Insurance Limited (JHIL), a key subsidiary of Jubilee Holdings, reported a profit before tax of KES 1.22 billion for the financial year ending December 31, 2024—up from KES 506 million in 2023. Net profit more than doubled to KES 910 million, driven by strategic investments in digital healthcare platforms, AI-powered claims processing, and customer-first service innovation.
“This growth is a testament to our unwavering mission to support every Kenyan’s health journey,” said Njeri Jomo, CEO and Principal Officer of Jubilee Health Insurance. “Through our digital strategy, enhanced hospital partnerships, and products like ‘Always With You,’ we are redefining access and quality of care in Kenya.”
AI-Driven Healthcare Innovation Powers Jubilee’s Growth
Jubilee Health Insurance’s record-setting profit surge is underpinned by its adoption of AI tools for claims adjudication, enhanced digital self-service channels, and real-time provider integration—all of which have streamlined services for patients and hospitals alike.
These advancements reinforce JHIL’s status as the leading private health insurer in Kenya, and a key enabler of patient-centered, technology-driven healthcare access.
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Industry Recognition for Healthcare and Corporate Excellence
Jubilee’s 2024 transformation was recognized by two major national accolades:
- Health Financier of the Year – awarded by the Kenya Medical Association (KMA)
- Company of the Year – awarded by the Women on Boards Network (WOBN)
These awards highlight the insurer’s dual commitment to inclusive leadership and impactful financial stewardship. By ensuring hospitals receive timely payments, Jubilee has strengthened Kenya’s healthcare delivery chain from frontline workers to specialized care facilities.
Financial Highlights: Sustained Growth and Strong Fundamentals
Jubilee Health Insurance’s 2024 financial performance demonstrates broad-based growth across all key indicators:
| Metric | 2024 | 2023 |
|---|---|---|
| Gross Written Premium (GWP) | KES 13.94 billion | KES 11.81 billion |
| Insurance Revenue | KES 13.48 billion | KES 10.2 billion |
| Insurance Service Result | KES 546 million | (KES 62 million) |
| Net Profit | KES 910 million | KES 438 million |
| Return on Equity (ROE) | 20% | 11% |
| Total Comprehensive Income | KES 975 million | KES 450 million |
| Current Ratio | 174% | 136% |
| Total Equity | KES 5.1 billion | — |
Jubilee’s 2024 financials were audited by KPMG Kenya and met all International Financial Reporting Standards (IFRS 17), reflecting transparency and compliance in an evolving regulatory environment.
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Leading the Future of Health Insurance in Kenya
As Kenya’s healthcare landscape rapidly digitizes, Jubilee Insurance 2024 performance cements its leadership role. By combining profitability with purpose, the company sets a benchmark for sustainable health financing in both urban and rural markets.
With over KES 5 billion in equity and continued investment in digital transformation, JHIL is poised to expand its footprint and continue innovating to meet Kenya’s healthcare challenges head-on.
The Jubilee Health Insurance profit surge in 2024 signals not just financial strength but a deeper transformation within Kenya’s healthcare sector. As the company continues to lead with innovation, inclusivity, and customer-focused care, it reinforces its position as a trusted partner in the nation’s health journey.
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