The Jubilee Insurance Company of Kenya (JICK), mostly known as Jubilee Insurance, is an

insurance company Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...

Kenya ) , national_anthem = "Ee Mungu Nguvu Yetu"() , image_map = , map_caption = , image_map2 = , capital = Nairobi , coordinates = , largest_city = Nairobi , ...

, which has the largest economy in the

East African Community The East African Community (EAC) is an intergovernmental organisation composed of seven countries in the Great Lakes region of East Africa: the Democratic Republic of the Congo, the United Republic of Tanzania, the Republics of Kenya, Burundi, ...

. It is a wholly owned subsidiary of

Jubilee Holdings Limited Jubilee Holdings Limited is a financial services holding company, with its headquarters in Nairobi, Kenya. The company maintains subsidiaries in Kenya, Uganda, Tanzania, Burundi, and Mauritius. Its activities are mainly in the insurance sector. ...

, a multinational insurance holding company, which maintains its headquarters in

Nairobi Nairobi ( ) is the capital and largest city of Kenya. The name is derived from the Maasai phrase ''Enkare Nairobi'', which translates to "place of cool waters", a reference to the Nairobi River which flows through the city. The city proper ha ...

, the capital of Kenya, with subsidiaries in

Kenya ) , national_anthem = "Ee Mungu Nguvu Yetu"() , image_map = , map_caption = , image_map2 = , capital = Nairobi , coordinates = , largest_city = Nairobi , ...

Tanzania Tanzania (; ), officially the United Republic of Tanzania ( sw, Jamhuri ya Muungano wa Tanzania), is a country in East Africa within the African Great Lakes region. It borders Uganda to the north; Kenya to the northeast; Comoro Islands and ...

Uganda }), is a landlocked country in East Africa East Africa, Eastern Africa, or East of Africa, is the eastern subregion of the African continent. In the United Nations Statistics Division scheme of geographic regions, 10-11-(16*) territor ...

Burundi Burundi (, ), officially the Republic of Burundi ( rn, Repuburika y’Uburundi ; Swahili language, Swahili: ''Jamuhuri ya Burundi''; French language, French: ''République du Burundi'' ), is a landlocked country in the Great Rift Valley at the ...

, and

Mauritius Mauritius ( ; french: Maurice, link=no ; mfe, label=Mauritian Creole, Moris ), officially the Republic of Mauritius, is an island nation in the Indian Ocean about off the southeast coast of the African continent, east of Madagascar. It incl ...

, with plans to expand on the

African continent Africa is the world's second-largest and second-most populous continent, after Asia in both cases. At about 30.3 million km2 (11.7 million square miles) including adjacent islands, it covers 6% of Earth's total surface area ...

History

Jubilee Insurance was incorporated as a Kenyan financial services provider with headquarters in the coastal city of

Mombasa Mombasa ( ; ) is a coastal city in southeastern Kenya along the Indian Ocean. It was the first capital of the British East Africa, before Nairobi was elevated to capital city status. It now serves as the capital of Mombasa County. The town is ...

. The company prospered and over the years, opened offices in other East African cities and towns, including

Dar-es-Salaam Dar es Salaam (; from ar, دَار السَّلَام, Dâr es-Selâm, lit=Abode of Peace) or commonly known as Dar, is the largest city and financial hub of Tanzania. It is also the capital of Dar es Salaam Region. With a population of over ...

and

Kampala Kampala (, ) is the capital and largest city of Uganda. The city proper has a population of 1,680,000 and is divided into the five political divisions of Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division, and Ruba ...

. The company also opened branches in the Indian city of

Bombay Mumbai (, ; also known as Bombay — the official name until 1995) is the capital city of the Indian state of Maharashtra and the ''de facto'' financial centre of India. According to the United Nations, as of 2018, Mumbai is the second- ...

and

Karachi Karachi (; ur, ; ; ) is the most populous city in Pakistan and 12th most populous city in the world, with a population of over 20 million. It is situated at the southern tip of the country along the Arabian Sea coast. It is the former cap ...

, Pakistan. On the Indian Ocean islands of Mauritius and

Zanzibar Zanzibar (; ; ) is an insular semi-autonomous province which united with Tanganyika in 1964 to form the United Republic of Tanzania. It is an archipelago in the Indian Ocean, off the coast of the mainland, and consists of many small islands ...

. The company's parent, Jubilee Holdings Limited, was listed on the

Nairobi Stock Exchange The Nairobi Securities Exchange (NSE) was established in 1954 as the Nairobi Stock Exchange, based in Nairobi the capital of Kenya. It was a voluntary association of stockbrokers in the European community registered under the Societies Act in ...

(NSE) in 1973, where it trades under the symbol JUB. Following a period of political and financial instability in the 1970s and 1980s in Uganda, The Jubilee Insurance Company of Uganda (JICU) re-established its presence in 1992. The Ugandan subsidiary is co-owned with the

DFCU Group The Development Finance Company of Uganda Group, commonly referred to as the DFCU Group, is a financial services company in Uganda. Overview * DFCU Limited * DFCU Bank Limited * DFCU Leasing Limited * Rwenzori Properties Limited * Nakasero Pr ...

and with the

Aga Khan Fund for Economic Development Aga Khan Fund for Economic Development SA is a Swiss for-profit entity and international development finance institution which invests in countries of East Africa, West Africa, Central Asia, and South Asia. It is based in Geneva, Switzerland. I ...

(

AKFED Aga Khan Fund for Economic Development SA is a Swiss for-profit entity and international development finance institution which invests in countries of East Africa, West Africa, Central Asia, and South Asia. It is based in Geneva, Switzerland. It ...

). In 2006, Jubilee Holdings Limited became crosslisted on the

Uganda Securities Exchange The Uganda Securities Exchange (USE) is the principal stock exchange of Uganda. It was founded in June 1997. The USE is operated under the jurisdiction of Uganda's Capital Markets Authority, which in turn reports to the Bank of Uganda, Uganda's ...

(USE). In 1998, the company re-established a subsidiary in Tanzania. The Jubilee Insurance Company of Tanzania (JICT) 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

Dar es Salaam Stock Exchange The Dar es Salaam Stock Exchange (DSE) is a stock exchange located on Ohio Street, west of Kivukoni, south east of Dar es Salaam, the commercial capital and largest city in Tanzania. It was incorporated in September 1996 and trading started in A ...

(DSE), also in 2006. According to the Kenyan Insurance Regulatory Authority report released in September 2014, The Jubilee Insurance Company of Kenya was ranked first in market share with 11.9% of the Kenyan market ahead of

Britam Britam Holding PLC is a leading diversified financial services group and is listed on the Nairobi Securities Exchange. The group has presence in seven Africa countries in Kenya, Uganda, Tanzania, Rwanda, South Sudan, Mozambique and Malawi. Br ...

and

CIC Insurance Group Limited CIC Insurance Group Limited, commonly referred to as CIC Group, is an insurance and investment group that operates mainly in Kenya, Uganda, South Sudan and Malawi. CIC Group has a network of branches and operational subsidiaries spread across th ...

, who controlled 11.2% and 9% respectively.

Jubilee Holdings Limited

The following is a list of

subsidiaries A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a sa ...

(50+% shareholding) of Jubilee Holdings Limited, who together form the Jubilee Group. * The Jubilee Insurance Company of Kenya Limited (100%) * The Jubilee Insurance Company of Uganda Limited (65%) * The Jubilee Insurance Company of Tanzania Limited (51%) * The Jubilee Insurance Company of Burundi S.A. (70%) * Jubilee Insurance (Mauritius) Limited (80%) * Jubilee Financial Services Limited (100%) * Jubilee Investments Company Limited (Uganda) (100%) * Jubilee Investments Tanzania Limited (100%) * Jubilee Investments Burundi Limited (100%) and (10) Jubilee Center Burundi (80%) The companies listed below are regarded as associate companies, with less than 50% shareholding of Jubilee Holdings Limited: * PDM (Holdings) Limited (37.1%) * IPS Cable Systems Limited (33.3%) * FCL Holdings Limited (30.0%) * IPS Power Investment Limited (27.0%) * Bujagali Holding Power Company Limited (25.0%) *

Diamond Trust Bank Group Diamond Trust Bank Group, in short DTB Group, is an African banking group active in Burundi, Kenya, Tanzania, and Uganda. The flagship company of the group, Diamond Trust Bank Kenya, is licensed by the Central Bank of Kenya, the central bank and ...

(10.27%)

Ownership

Jubilee Insurance Company Limited is a 100% subsidiary of Jubilee Holdings Limited, the "holding company" or the "parent". The

stock In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company ...

of the holding company is listed on three of the four major stock exchanges in East Africa, namely the

, the

and the

. , the total assets of the Parent were estimated at US$678 million (KES:61.16 billion), with shareholder's equity of approximately US$119 million (KES:10.7 billion).

Kenya Branch Network

The company maintains the following offices in Kenya, as at 31 December 2013: * Head Office – Jubilee Insurance House, Wabera Street,

Nairobi County Nairobi City County is one of the 47 counties of Kenya. With a population of 4,397,073 in the 2019 census, it is the third smallest yet the most populous of the counties, also serving as the capital of Kenya. In 2013, the county entity was eff ...

* Mombasa Office – Third Floor, Jubilee Insurance Building, Moi Avenue,

Mombasa County ) , pushpin_map = Kenya , mapsize = , map_caption = Location of Mombasa County , seat_type = Capital , seat = Mombasa , subdiv ...

* Kisumu Office – Third Floor, Jubilee Insurance House, Oginga Odinga Road,

Kisumu Kisumu ( ) is the List of cities and towns in Kenya by population, third-largest city in Kenya after the capital, Nairobi, and the coastal city of Mombasa (census 2019). It is the third-largest city after Kampala and Mwanza in the Lake Victor ...

* Nairobi Agency Office 1 – Third Floor, Jubilee Exchange Building, Mama Ngina Street, Nairobi * Nairobi Agency Office 2 – Ground Floor, Tulip House, Mombasa Road, Nairobi * Nairobi Agency Office 3 – Sixth Floor, Wing B, Vanguard House, First Crossway Road, Chiromo Road,

Westlands Westlands is an affluent, mixed-use commercial and residential neighbourhood in Nairobi. Location Westlands is located approximately , by road, northwest of the central business district of Nairobi. The geographical coordinates of the neighb ...

, Nairobi * Nakuru Office – First Floor, Polo Centre, Kenyatta Avenue,

Nakuru Nakuru is a city in the Great Rift Valley, Kenya, Rift Valley region of Kenya. It is the capital of Nakuru County, and was formerly the capital of Rift Valley Province. As of 2019, Nakuru had an urban and rural population of 570,674 inhabitant ...

* Nyeri Office – Third Floor, Sohan Plaza, Kimathi Way,

Nyeri Nyeri is a town situated in the Central Highlands of Kenya. It is the county headquarters of Nyeri County. The town was the central administrative headquarters of the country's former Central Province. Following the dissolution of the former pr ...

* Kisii Office – Second Floor, New Sansora Building, Town Centre Hospital Road,

Kisii Kisii may refer to: * Kisii, Kenya, the inaugural capital city of Kenya * Kisii County, one of the 47 counties of Kenya * Gucha District, in Kenya, also known as ''South Kisii District'' * Nyamira District, in Kenya, also known as ''North Kisii Di ...

* Eldoret Office – Second Floor, Imperial Court Eldoret, Main Nairobi – Uganda Highway,

Eldoret Eldoret is a principal town in the Rift Valley region of Kenya and serves as the capital of Uasin Gishu County. The town was referred to by white settlers as Farm 64, 64 and colloquially by locals as 'Sisibo'. As per the 2019 Kenya Population ...

* Meru Office – Second Floor, Alexander House, Moi Avenue,

Meru Meru may refer to: Geography Kenya * Meru, Kenya, a city in Meru County, Kenya ** Meru County, created by the merger of *** Meru Central District *** Meru North District *** Meru South District * Meru National Park, a Kenyan wildlife park Tanza ...

* Thika Office – Fourth Floor, Thika Arcade, Kenyatta Highway at Commercial Street,

Thika Thika Thika (pronounced �θika is an industrial town and a major commerce hub in Kiambu County, Kenya, lying on the A2 road 42 kilometres (26 mi) Northeast of Nairobi, near the confluence of the Thika and Chania Rivers. Although Thika town ...

* Bungoma Office – First Floor, Bungoma Business Centre, Moi Avenue,

Bungoma Bungoma is the county town of Bungoma County in Kenya. It was established as a trading centre in the early 20th century. Naming Bungoma, was named from eng'oma—the Bukusu word for drums. The town was originally a meeting place for Bukusu ...

References

External links