Bottom Line: Higher to complete wave III
06/03/26 05:55 EST (Last Price 383):
We are looking for further advance in this developing impulse for wave 1.
Insurance stocks rarely make headlines. But sometimes the quietest companies deliver the strongest returns.
Jubilee Holdings, listed on the Nairobi Securities Exchange, may be one of those businesses.
Earnings: A Record Year
Jubilee recently delivered the best financial performance in its history.
For the 2024 financial year, the insurer reported:
- Profit Before Tax: KSh 6.2 billion
- Gross Written Premiums: KSh 53 billion (up 34%)
- Total Assets: KSh 213.6 billion
- Profit after tax growth: roughly 82% year-on-year
This marked the first time the company crossed KSh 6 billion in profit, highlighting strong growth across its insurance operations in Kenya, Uganda, Tanzania, Burundi, and Mauritius.
The momentum continued into 2025, with half-year net profit rising 22% to KSh 3.1 billion, driven by higher insurance revenue and better claims management.
For an insurer in a region where insurance penetration remains extremely low, this growth is important.
Kenya’s penetration is just about 2.3%, meaning the long-term market opportunity remains enormous..
Shareholder Returns: One of the Best Dividend Stocks on the NSE
One of the main reasons investors hold SCBK is its generous dividend payouts.
Following its strong 2024 earnings, the bank paid:
- KES 45 per share total dividend
- KES 13.9 billion returned to shareholders
This dividend was significantly higher than the KES 29 per share paid the previous year.
Even during the weaker 2025 earnings period, the bank maintained an interim dividend of KES 8 per share, signalling confidence in its long-term earnings power.
For income investors, SCBK has historically been one of the most reliable dividend payers on the Nairobi exchange.
In recent years Standard Chartered has focused on streamlining operations and improving capital efficiency.
Key actions include:
1. Focusing on high-margin banking segments
The bank has prioritized transaction banking, wealth management, and corporate banking, which produce higher fee income.
2. Reducing less profitable lending activity
The bank’s loan book has been reduced in some areas to focus on higher-quality clients and international corporate banking.
3. Maintaining strong capital buffers
SCBK maintains strong liquidity and capital levels well above regulatory requirements, allowing it to continue returning cash to shareholders.
These strategic changes have helped the bank generate strong profits while supporting large dividend payouts..
