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Jubilee Insurance Company Limited

Added by pkahill

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Tags: Business, Insurance

The Jubilee Insurance Company Limited was incorporated in 1937 as a composite insurer and provider of mortgage finance, based in Mombasa. In the years that followed, Jubilee spread its sphere of influence throughout East Africa, and opened branches in Dar-es-Salaam, Kampala, Bombay, Karachi, Mauritius and Zanzibar.

In the decades preceding independence in Kenya, the insurance industry comprised companies owned mostly by British insurers who operated in East Africa by way of branch offices. Jubilee was thus one of the pioneers in the establishment of a locally incorporated insurance company.

In 1968, Jubilee moved its head offices to Nairobi and in 1972 it launched its famous four Js logo.

In 1973, in keeping with its mission of contributing to the development of the region Jubilee took the bold step of converting into a public company to broaden its ownership base, and it was listed on the Nairobi Stock Exchange.

Today, Jubilee Insurance, a wholly owned subsidiary of Jubilee Holdings Limited, has an issued share capital of KShs 225 million and the highest shareholders’ funds in the Kenyan insurance industry. It has over 6,300 shareholders.

The operations of the Jubilee Insurance Company of Uganda Limited were revived in 1992, following a period of stability and economic growth in the country. Its shareholders include the Aga Khan Fund for Economic Development and the Development Finance Company of Uganda Limited. Today, Jubilee Uganda is considered one of the leading insurance companies in the country.

Again in cooperation with local shareholders, the Jubilee Insurance Company of Tanzania Limited was formed and in June 1998 earned the distinction of being the first private sector insurance company to be licensed following liberalization of the insurance market in Tanzania.

In addition to its primary listing on the Nairobi Stock Exchange, Jubilee Holdings was cross listed in 2006 on the Uganda Securities Exchange and on the Dar-es-Salaam Stock Exchange.

In 2005, Jubilee Holdings Limited, together with its three subsidiaries in Kenya, Uganda and Tanzania successfully achieved ISO: 2000 certification, further consolidating the Group’s status as a key regional player.

Today, Jubilee also owns subsidiaries in Burundi and Mauritius.

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