Britam Holdings Plc, on Thursday, March 28 announced a 65 per cent increase in pre-tax profit for the financial year which ended in December 2023.
The company recorded a Ksh4.82 billion pre-tax profit up from Ksh2.92 billion in the previous year. This increase was attributed to the growth in top-line revenue from both the insurance and investment activities.
Additionally, Britam's insurance revenue increased to Ksh36.4 billion up from Ksh25.8 billion in 2022 representing a 41 per cent increase. The company also recorded growth in other sectors including the net investment income which grew to Ksh11.6 billion from Ksh11.32.
"We are confident of the growth and performance trend that Britam has achieved, supported by its subsidiaries in Kenya and in the region. The business continues to grow its revenues while operating costs grow at a lower rate than the topline growth," Britam's Group MD and CEO Tom Gitogo stated.