Jubilee Holdings Limited
Corporate brand
UnclaimedJubilee Holdings Limited is an East African financial-services holding company focused primarily on insurance, with operations in Kenya, Uganda, Tanzania, and Burundi.
Last updated August 31, 2026
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Overview
Jubilee Holdings Limited is a Kenya-based financial-services holding company headquartered in Nairobi. It serves as the parent structure for the Jubilee Group, whose principal activities are concentrated in insurance and related financial services across East Africa. The group maintains insurance subsidiaries in Kenya, Uganda, Tanzania, and Burundi, covering both life and health insurance and, in Burundi, general as well as long-term insurance. It also owns or participates in asset management, investment holding, property, banking, telecommunications infrastructure, food processing, and power-generation investments. The group’s insurance operations are organized through country-specific subsidiaries. In Kenya, Jubilee Life Insurance Company of Kenya Limited and Jubilee Health Insurance Company of Kenya Limited are wholly owned. In Uganda, the group holds 65 percent of both Jubilee Health Insurance Company of Uganda Limited and Jubilee Life Insurance Company of Uganda Limited. In Tanzania, it holds 51 percent of Jubilee Health Insurance Company of Tanzania Limited and Jubilee Life Insurance Corporation of Tanzania Limited. In Burundi, Jubilee Insurance Company of Burundi S.A. is described as a provider of general and long-term insurance, with Jubilee Holdings holding 70 percent. A further 20 percent of that venture is held by Diamond Trust Bank Group, with the two groups sharing a common shareholder relationship through the Aga Khan Fund for Economic Development structure. Beyond insurance, the group owns Jubilee Asset Management Limited in Kenya and investment holding companies in Uganda, Tanzania, and Burundi. It also holds an interest in Jubilee Center Burundi, a property investment company. Its associated investments extend into property development and management through PDM (Holdings) Limited; submarine-fiber connectivity through IPS Cable Systems Limited, which is linked to the Seacom cable; meat processing and distribution through FCL Holdings Limited and its investment in Farmers Choice; electricity generation through IPS Power Investment Limited and Tsavo Power Company; and Uganda’s Bujagali power project through Bujagali Holding Power Company. Jubilee Holdings also holds a minority stake in Diamond Trust Bank Group, an East African banking group active in Burundi, Kenya, Tanzania, and Uganda. This broader portfolio gives Jubilee a role extending beyond underwriting into asset management, investments, infrastructure, utilities, property, and financial-sector partnerships, although insurance remains the group’s central business identity. The holding company’s shares are listed on the Nairobi, Kampala, and Dar es Salaam securities markets. The group is described as one of the largest financial-services conglomerates in East Africa and, according to the cited reference material, as the largest insurance group in the East African Community by assets and shareholders’ equity as of December 2024. At that date, the group reportedly controlled assets of more than US$1.643 billion, equivalent to approximately KES 214 billion, and shareholders’ equity of about US$393 million, or KES 51 billion. Those figures are presented as a December 2024 snapshot rather than as an evergreen valuation. Governance of the holding company is supervised by an eight-person board; the cited reference identifies Zul Abdul as group chairman in the relevant governance description.
History
Jubilee Holdings Limited is the holding company of the Jubilee Group, an East African financial-services organization whose principal business is insurance. Its corporate center is in Nairobi, Kenya, while its operating and investment interests extend across Kenya, Uganda, Tanzania, and Burundi. The available reference material does not specify the company’s founding year, founder, or the detailed sequence by which its subsidiaries and associated investments were established, so those elements cannot be stated reliably here. The group’s structure is based on country-level insurance companies and complementary financial and investment businesses. In Kenya, Jubilee Holdings owns Jubilee Life Insurance Company of Kenya Limited and Jubilee Health Insurance Company of Kenya Limited outright. In Uganda, its controlling interests include 65 percent stakes in Jubilee Health Insurance Company of Uganda Limited and Jubilee Life Insurance Company of Uganda Limited. Its Tanzanian insurance operations are held through 51 percent stakes in Jubilee Health Insurance Company of Tanzania Limited and Jubilee Life Insurance Corporation of Tanzania Limited. In Burundi, Jubilee Insurance Company of Burundi S.A. operates as a general and long-term insurer, with Jubilee Holdings holding 70 percent. The Burundi insurance company also has a 20 percent holding from Diamond Trust Bank Group, a relationship connected by a common shareholder structure involving the Aga Khan Fund for Economic Development. The group expanded its corporate scope through wholly owned investment and asset-management entities. Jubilee Asset Management Limited operates in Kenya, while Jubilee Investments Company Limited, Jubilee Investments Tanzania Limited, and Jubilee Investments Burundi Limited serve as investment-holding vehicles in their respective countries. Jubilee Center Burundi is identified as a property investment company in which the group holds an 80 percent interest. Jubilee Holdings’ associated companies show a further diversification beyond insurance. Through PDM (Holdings) Limited, it has exposure to property investment, development, and management. Through IPS Cable Systems Limited, it participates in an investment vehicle connected to the Seacom submarine fiber-optic cable. FCL Holdings Limited provides exposure to Farmers Choice, a business involved in the sale of fresh and processed meat products. IPS Power Investment Limited is linked to Tsavo Power Company, an electricity-generation business, while Bujagali Holding Power Company provides exposure to Bujagali Energy in Uganda. The group also owns 10.27 percent of Diamond Trust Bank Group, a banking group operating in Burundi, Kenya, Tanzania, and Uganda. This investment reinforces Jubilee’s position within a wider East African financial-services network rather than limiting it to insurance underwriting. Jubilee Holdings is publicly traded, with its shares listed on the Nairobi Securities Exchange, Uganda Securities Exchange, and Dar es Salaam Stock Exchange. The reference material describes the company as a major East African financial-services conglomerate and identifies an eight-person board supervising the holding company. Zul Abdul is named as group chairman in the cited governance description. The most recent scale indicators supplied in the reference material are for December 2024. At that point, the group reportedly controlled assets exceeding US$1.643 billion, or approximately KES 214 billion, and shareholders’ equity of roughly US$393 million, or KES 51 billion. The same material characterizes these figures as representing the largest position for an insurance group in the East African Community. Because the available material does not provide a full chronological corporate history, detailed acquisition dates, leadership succession, and product-launch history remain areas for further research.
- 2024
Reported regional scale
[1]As of December 2024, Jubilee Holdings was reported to control more than US$1.643 billion in assets and approximately US$393 million in shareholders’ equity, figures presented as a measure of its position among East African insurance groups.
- 2015
Shareholder information documented
[1]The cited reference records the group’s largest shareholders as of December 2015 and describes its presence across the Nairobi, Kampala, and Dar es Salaam securities markets.
Products and positioning
A diversified East African financial-services group anchored by insurance, with a regional footprint and additional investments in asset management, banking, property, telecommunications infrastructure, food processing, and power generation.
Life insurance
Jubilee Life Insurance
The group’s life-insurance operations are conducted through country subsidiaries in Kenya, Uganda, and Tanzania. These businesses form one of Jubilee Holdings’ core insurance segments and sit alongside its health and general-insurance activities.
Health insurance
Jubilee Health Insurance
Jubilee’s health-insurance business operates through subsidiaries in Kenya, Uganda, and Tanzania. The segment is a central part of the group’s regional insurance offering, although the available reference does not provide detailed product schedules or policy-level descriptions.
General and long-term insurance
Jubilee Insurance Company of Burundi
Jubilee Insurance Company of Burundi S.A. is described as a provider of general and long-term insurance in Burundi. Jubilee Holdings owns a controlling 70 percent interest, with an additional 20 percent held by Diamond Trust Bank Group.
Asset management
Jubilee Asset Management
Jubilee Asset Management Limited is a wholly owned Kenyan subsidiary focused on fund-management activities. It complements the group’s insurance operations by providing an investment and asset-management capability within the Jubilee structure.
Recent events
- Unconfirmed
Jubilee Group appoints Juan Cazcarra as Group CEO[2]
Jubilee Group appointed Juan Cazcarra as Group Chief Executive, effective December 1, 2026. He succeeds Dr Julius Kipngetich, who is due to retire on November 30, 2026.
- Unconfirmed
Allianz completes acquisition of a majority stake in Jubilee Holdings[3]
Allianz completed the acquisition of a 66 percent stake in Jubilee Holdings Limited. The transaction concerned the majority shareholding in Jubilee’s short-term general insurance business operations in Kenya, Uganda, Tanzania, Burundi and Mauritius.
Allianz completes acquisition of majority stake in Jubilee General Insurance[4]
Allianz became the majority shareholder in Jubilee General Insurance Limited in Kenya after acquiring a 66% stake from Jubilee Holdings Limited, which retained a 34% shareholding. The company was to operate as Jubilee Allianz General Insurance Limited after corporate filings were completed.
Sources4 sources
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