This archive report was first published on 29 August 2021.
Liberty Kenya Holdings Plc, a leading underwriter, has posted a decline in net earnings for the first six months of 2021. According to the company's unaudited results, net earnings decreased to KSh 265.1 Million in H1, 2021 from KSh 383.8 Million in H1, 2020.
Despite the decline in net earnings, the company's total income increased from KSh 4.5 Billion to KSh 5.6 Billion in H1 2021. This growth in total income is a positive sign for the company's financial health.
Liberty Kenya's balance sheet size grew to KSh 41.9 Billion in H1 2020 from KSh 39 Billion in H1 2020, indicating a stable financial position. The company's insurance contracts were worth KSh 6.9 Billion in H1 2020, decreasing to KSh 6.8 Billion in H1 2021.
As of H1 2021, the company's total equity stood at KSh 8.9 Billion, an increase from KSh 8.4 Billion in H1 2020. Net premiums declined from KSh 6.0 Billion to KSh 5.4 Billion, while net insurance premiums fell to KSh 3.4 Billion in H1, 2020, decreasing to KSh 3.2 Billion in H1, 2021.
According to the company's Board of Directors, 'In terms of capital adequacy, our businesses are well capitalised and above both the regulatory requirements and the group's minimum target.'
