Jubilee Insurance
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| Private | |
| Industry | Financial Services |
| Founded | 1937 |
| Headquarters | Nairobi, Kenya |
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Key people
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Nizar N. Juma Chairman Patrick Tumbo Nyamemba Managing Director & CEO |
| Products | Insurance |
| Total assets | US$826.65 million (2015). |
| Website | Homepage |
Jubilee Insurance Company Limited (JICL), commonly referred to as Jubilee Insurance, is an insurance company in Kenya, the largest economy in the East African Community. It is a wholly owned subsidiary of Jubilee Holdings Limited, a multinational insurance holding company, which maintains its headquarters in Nairobi, the capital of Kenya, with subsidiaries in Burundi, Kenya, Mauritius, Tanzania, Uganda and Pakistan, with plans to expand on the African continent.
Jubilee Insurance was incorporated as a Kenyan financial services provider with headquarters in the coastal city of Mombasa. The company prospered and over the years, opened offices in other East African cities and towns, including Nairobi, Dar-es-Salaam and Kampala. The company also opened branches in the Indian city of Bombay and Karachi, Pakistan. On the Indian Ocean islands of Mauritius and Zanzibar. The company's parent, Jubilee Holdings Limited, was listed on the (NSE) in 1973, where it trades under the symbol JUB. Its sister company in Pakistan is listed on the under the symbol NJICL.
Following a period of political and financial instability in the 1970s and 1980s in Uganda, Jubilee Insurance Uganda re-established presence in 1992. The Ugandan subsidiary is co-owned with the DFCU Group and with the Aga Khan Fund for Economic Development (AKFED). In 2006, Jubilee Holdings Limited became crosslisted on the Uganda Securities Exchange (USE).
In 1998, the company re-established a subsidiary in Tanzania. Jubilee Insurance Tanzania is co-owned with local Tanzanian investors. It was the first privately owned insurance company to be licensed in the country, following the liberalisation of financial institutions ownership. Jubilee Holdings Limited became crosslisted on the (DSE), also in 2006.
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