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Kenya's Liberty Holdings 2013 full year pretax profit up 11 pct
April 9, 2014 / 4:51 PM / 3 years ago

Kenya's Liberty Holdings 2013 full year pretax profit up 11 pct

NAIROBI, April 9 (Reuters) - Kenyan insurer Liberty Holdings on Wednesday posted an 11 percent rise in full year 2013 pretax profit to 1.3 billion shillings ($15 million), helped a rise in revenues from premiums.

The firm, controlled by South Africa’s Liberty Holdings and previously known as CFC Insurance Holdings, said net insurance premium revenues rose to 4.07 billion shillings from 3.98 billion shillings in 2012.

Insurance is seen as a growth sector in east Africa’s biggest economy, where only about 8 percent of the population have any form of cover.

Liberty Holdings said its basic and diluted earnings per share rose to 2.15 shillings a share from 1.66 shillings. It recommended a dividend payment of 1 shilling a share compared with 0.40 shillings in 2012. ($1 = 86.6300 Kenyan Shillings) (Reporting by George Obulutsa; Editing by Anthony Barker)

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