Jubilee Holdings Limited Explained

Jubilee Holdings Limited should not be confused with Jubilee Insurance Company Limited.

Jubilee Holdings Limited
Type:Public company
Key People:Nizar N. Juma
Group Chairman
Julius Kipng’etich
Group CEO[1]
Industry:Insurance and finance
Products:Insurance, investments, real estate, management services
Revenue:USD 300 million (2013) Aftertax:US$27.8 million (KES:2.5 billion) (2013)
Assets:US$678 million (KES:61.16 billion) (2013)
Num Employees:878
Num Employees Year:2015
Location City:Nairobi
Location Country:Kenya

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.[2] Its activities are mainly in the insurance sector.[3]

Jubilee Holdings Limited is a large financial services conglomerate in East Africa, the Indian Ocean Islands, and parts of southwestern Asia. As of December 2013, the company controlled assets valued at over US$678 million (KES:61.16 billion), with shareholder's equity of approximately US$119 million (KES:10.7 billion)[4] The company's subsidiary in Kenya, Jubilee Insurance Company Limited, was the largest insurance company in that country, the largest economy in the East African Community, according to a report by the Insurance Regulatory Authority, released in December 2014.[5]

Jubilee Holdings Limited

The following is a list of subsidiaries (50+% shareholding) and associated companies (less than 50% shareholding) of Jubilee Holdings Limited, who together form the Jubilee Group.[6]

Subsidiaries

Associates companies

Investment

Shareholding

The shares of stock of the holding company are listed on the stock exchanges in Nairobi, Kampala, and Dar es Salaam.[9] The largest shareholders in the company as of December 2015 are listed in the table below:[4]

Jubilee Holdings Limited Stock Ownership
Rank Name of OwnerPercentage Ownership
1Aga Khan Fund for Economic Development37.98
2Pyrus Investments Limited9.82
3Freight Forwarders Kenya Limited1.95
4United Housing Estates Limited1.81
5Adam's Brown and Company Limited1.79
6Others via the NSE, USE & DSE46.65
Total100.00

Governance

The activities of the Holding Company (The Group), are supervised by an eight-person board of directors, led by Group chairman Nizar N. Juma.[10]

See also

External links

Notes and References

  1. Web site: Nairobi . Ex-Uchumi boss Kipng'etich moves on to the helm of Jubilee Holdings . 11 January 2018 . 10 January 2018 . . Mugambi . Mutegi.
  2. Web site: About Us. 2020-06-27. Jubilee Insurance. en.
  3. Web site: 23 January 2015. Globus, Jubilee Tie Up To Boost Pan-African Insurance. 2 November 2014. Aamera. Jiwaji. African Business Magazine (London).
  4. Web site: Jubilee Holdings Limited December 2015 Annual Report. 31 December 2015. Jubilee Holdings Limited. 29 September 2016.
  5. Web site: Business Daily Africa (Nairobi). Herbling. David. 23 January 2015. CIC Rises Past ICEA To Be Third-Largest Insurance Firm. 21 December 2014.
  6. Web site: Jubilee Holdings Limited - 2013 Annual Report. 2013-12-31. 2015-02-19. Jubilee Holdings Limited.
  7. Web site: Jubilee posts $19.7 million half year profit, enters DRC market . 31 August 2016 . 31 August 2016 . Allan . Olingo . . Nairobi.
  8. Web site: Diamond Trust Bank Group: Shareholding Structure . 31 December 2013 . 19 February 2015 . Diamond Trust Bank Group.
  9. Web site: 23 January 2015. Arbitrage Opportunities On Dual-Listed Stocks. 26 July 2011. Sasha. Planting. MoneyWeb South Africa.
  10. Web site: 2014 . Board of Directors At Jubilee Holdings Limited . 23 January 2015 . Jubilee Holdings Limited.

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