--Pre Tax Profit declined by 55.4% to Sh 1.3 Billion from Sh 2.9 Billion as of June 2016 even as total income increased by 16% to Sh 14.7 Billion compared to Sh 12.7 Billion in the same period last year.
--The increase on total income was on the back of increased gains on financial assets at fair value through profit or loss, amounting to Sh 1.1 Billion.
--The company’s core insurance business which accounts for nearly 70% of its total revenues, reported a revenue growth of 10% to Sh 9.7 Billion from Sh 8.9 Billion in 2016.
--Gross earned premiums and fund management fees increased by 6.2% to Sh 11.7 Billion as net earned revenue increased by 8.8% to Sh 10.2 Billion.
--Investment income (Dividends & interests) increased by 15% to Sh 2.5 Billion·
--Net insurance benefits were up 85% to Sh 6.7 Billion due to a change in the valuation methodology which came into effect in January 2016.
Total expenses increased by 33% to Sh 13.5 Billion mainly as a result of increased net insurance benefits.
Earnings Per Share (EPS) declined by 45% to Sh 0.51 from Sh 0.92.
The company did not recommend payment of interim dividend
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle