UAP Holdings will continuously look to pricing their risks better to increase profits and reduce exposure, some which could be regulatory uncertainties, its CEO Peter Mwangi has said.
Speaking on the sidelines after he announced the Group’s half year results, he noted that the company has recorded a steady growth but will be looking to maintaining it.
UAP Holdings recorded an improved year-on-year performance of sh517 million before tax, compared to sh445 million in the same period last year.
The Group CEO attributed the growth to steady growth in net earned premium and robust savings in operating expenses. He added that the payroll savings from reorganization done in the first half of 2018 also played a key role in boosting their performance.
The firms Investment Income declined by 7.7 per cent mainly due to the impact of property valuation write-downs.
Although the NSE 20 Index on the Nairobi Securities Exchange had negative returns for the period, the investment portfolio fared relatively well with the only adverse impact from the property portfolio.
In his address, Mr. Mwangi said “The execution of our strategy continues apace with continuous investments in our people and technology to ensure that we meet out stakeholder expectations especially that of our customers. The operating environment in East Africa is supportive and the potential for financial services is substantial promoting our investment in the region”.