Britam Holdings Limited has posted a Sh2.8 billion pre-tax profit for the first six months of 2016, from Shs1.04 billion during the same period in 2015.

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The Group’s investment income increased by 38 per cent to Sh2.4 billion in June 2016 compared with Shs 1.7 billion in June 2015.

The revenues from Britam Asset Managers, a subsidiary company, grew to Shs 529.4 million compared to Sh439.4 million last year, an increase of 21 per cent.

The group also registered a 7 per cent rise in total Assets to Sh81.8 billion from Sh76.6 billion in June 2015.

“The business continues to show resilience in operations despite challenges witnessed in the industry. The fundamentals of the company remain strong while the agency network and digitization remain key pillars of growth going forward,” Britam Group Managing Director Dr Benson Wairegi said.

Announcing the results, Dr Wairegi noted that the successful implementation of the 2012-2016 Strategy has guided the Group’s operations helping it to realize major milestones among them the 100 per cent acquisition of Real Insurance Group, the successful integration of the two entities, and the development of a property strategy, that have ensured that the portfolio is robust and agile.

Britam completed the purchase of the former Real Insurance in June 2016, when the firm acquired the remaining 1 per cent of the stake from the Kenya Farmers Association (KFA), concluding the process which started with the acquisition of 99 per cent of Real in 2014.

The Group incorporated Britam Properties, last year as part of its diversification strategy meant to reduce portfolio risk and exposure in the equities market.

The new Company is currently undertaking a number of projects which are in various stages of approval and is aggressively making forays in untapped areas of the lucrative property sector. The Flagship project is the iconic 31 - storey tower in Upper Hill, Nairobi, which will be completed in the 4th quarter of 2016.

Dr Wairegi also noted that phase one of the Company’s IT enabled business transformation initiative, dubbed Project Jawabu, was complete and had led to an improvement in the Company’s business processes.