Julius Kipngetich is set to retire from Jubilee Group after nearly nine years as the insurer’s chief executive officer. Dr Kipngetich’s term will end on November 30, 2026, having been appointed to the role on January 1, 2018.
He will be replaced by Juan Cazcarra, who has been the company’s deputy CEO.
‘Jubilee has appointed Juan Cazcarra as its new Group Chief Executive, effective December 1, 2026. He succeeds Dr Julius Kipngetich, who has served in the position since 2018 and will retire on November 30, 2026,’ the company said in a statement.
The insurer implemented major changes during Dr Kipngetich’s tenure aimed at, among other things, simplifying the business and focusing on more profitable insurance operations.
Jubilee, for instance, initiated its exit from the general insurance business in 2020 when it reached an agreement to dispose of its majority interests in the units to insurance giant Allianz.
The company last year moved its headquarters to a property it purchased from Coca-Cola in Nairobi’s Upper Hill. Jubilee also increased its investments in some of its key portfolio companies, including Uganda’s power producer Bujagali and fibre optic network firm Seacom.
‘We extend our sincere appreciation to Dr Julius for his exceptional leadership and dedicated service to Jubilee,’ Jubilee Chairman Zul Abdul said in a statement.
‘His contribution has been instrumental in strengthening the group’s position in the region, championing sustainable growth and developing the talent that will shape our future. We wish him every success and fulfilment in his retirement.’
The new CEO brings more than 20 years of experience in the insurance industry, having held senior leadership roles across Europe, Southeast Asia and Africa.
Mr Cazcarra joined Jubilee in 2021 as chief operating officer before later taking up the deputy CEO role in April last year.
‘During his tenure, Juan has played an important role in advancing the group’s digital transformation agenda, improving operational efficiency, simplifying processes and strengthening service delivery,’ the insurer said.
‘His experience across diverse markets, coupled with his understanding of the group’s business and the broader insurance landscape, positions him to lead the company’s next phase of growth.’
Mr Cazcarra holds a Master of Business Administration (MBA) from Universidad Pontificia Comillas (ICADE) and a bachelor’s degree in Law from Universidad de Zaragoza, both in Spain.
Jubilee is present in Kenya, Uganda, Tanzania and Burundi, serving 1.4 million customers.
Through its life and health insurance businesses, Jubilee provides protection for individuals, families and businesses while expanding access to healthcare and financial security through strategic partnerships, digital innovation and inclusive solutions.
Jubilee Asset Management complements the group with professionally managed investment solutions for individuals and institutions, including money market and fixed-income funds that support wealth creation, capital preservation and long-term financial security.