Excerpt of sib report on jubilee
We like the insurer given its market leadership position in East Africa (Kenya, Uganda and Tanzania), as well as an expected expansion into the wider region covering over 10 countries which planned over the next three years. The diversified investments are also something we like especially its exposure to the power sector which provides generally stable income. Separately, the government has announced plans to start insuring its vehicles, which have been previously exempted from third party risks which we think is a positive catalyst for general insurers in Kenya.