NAIROBI, Kenya, Jan 18 -Jubilee Health Insurance posted a 14 percent growth in its gross written premiums which rose to Shs 7.7bn up from Shs 6.7Bn for 9 months to September 2021.
It similarly saw its market share rise to 19 percent up from 18percent during the same period in 2020.
According to IRA’s latest published report for the 9 months ending 30 September 2021, Jubilee Health Insurance remained the most profitable health insurer in the country having posted an underwriting profit of Kshs. 586.07 million.
Net claims rose by Kshs. 1.5Bn from 2.9Bn to KShs. 4.4Bn while claim ratios rose to 71 percent compared to 67 percent in 2020.
This was partly attributed to the gradual opening of the economy and easing of travel restrictions countrywide which resulted to increased hospital visits by clients.
Commenting on the results, Patrick Gatonga of Jubilee Health Insurance noted that the performance reflects JHIL’s resilience and the ability of its teams towards customer satisfaction.
With the easing of the curfew restrictions in 2021, JHL came out to offer its clients with greater value especially in the micro-insurance segment,” Dr. Gatonga noted.
