Jubilee Holdings Limited

Last updated

Jubilee Holdings Limited
Type Public company
KN: JUB
IndustryInsurance and finance
Founded1937 (1937)
Headquarters,
Key people
Nizar N. Juma
Group Chairman
Julius Kipng’etich
Group CEO [1]
Products Insurance, investments, real estate, management services
RevenueUSD 300 million (2013) Aftertax:US$27.8 million (KES:2.5 billion) (2013)
Total assets US$678 million (KES:61.16 billion) (2013)
Number of employees
878 (2015)
Website www.jubileeinsurance.com

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]

Contents

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
RankName of OwnerPercentage Ownership
1 Aga Khan Fund for Economic Development 37.98
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 & DSE 46.65
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

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References

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