Key Highlights from the 2017 Financials; Income from investment in property, which includes rental income, fair value movements in investment in property and investment in property funds, declined by 161% from 991 million in 2016 to a loss of Sh 607.3 Million.
Total income grew by 24.5% to Sh 27.8 Billion as commissions grew slightly by 4% to Sh 744 Million.
Revenues from its asset management business declined by 16% to Sh 848.4 Million
Gross earned premium increased by 13.4% to Sh 24.1 Billion as net earned revenue grew by 15% to Sh 21 Billion.
Net insurance claims increased by a huge margin of 1450% to Sh 12.5 Billion while expenses: grew 46% to Sh 27 Billion.
Profit before tax declined by 80% to Sh 866 Million while net profit for the period declined by 79% to Sh 527.5 Million.
The board declared a 17% increase in dividend payment to 35 cents per share compared to Sh 30 cents per share in the previous year.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle