Britam Insurance Group has recorded US$37 million gross profits for the full year ending Dec. 31, 2013, according to a statement released by the company on March 7.
This is a 12% increase in profits posted in the same period last year.
Group total income grew to US$174 million up from US$135 million in the same period last year.
Total assets for the group increased to US$543 million up from US$414 million, representing a 31% growth.
Britam Insurance Uganda Ltd, a subsidiary of British-American Investments Company (Kenya) Ltd, grew by 105% while Britam South Sudan registered a growth in revenue of US$1.3 million in 2013 from US$11,570 million in 2012.