Jubilee Holdings Group Chief Executive Officer Julius Kipng’etich will retire on November 30, 2026, ending nearly nine years at the helm of the regional insurer. Appointed on January 1, 2018, he will be succeeded by Deputy Group CEO Juan Cazcarra from December 1, as announced by the company on November 2.
Kipng’etich’s departure closes a tenure during which Jubilee made changes aimed at simplifying its business and focusing on insurance operations considered more profitable. In 2020, the group began exiting general insurance after agreeing to sell majority interests in the units to Germany-based insurer Allianz.
Jubilee also relocated its headquarters in 2025 to a property it acquired from Coca-Cola in Nairobi’s Upper Hill. During the period, it increased investments in portfolio companies including Uganda-based power producer Bujagali and fibre-optic network operator Seacom.
Jubilee Chairman Zul Abdul thanked Kipng’etich for his leadership, saying his contribution had strengthened the group’s regional position, supported sustainable growth and helped develop talent. The board wished him well in retirement.
Cazcarra joined Jubilee in 2021 as Group Chief Operating Officer and became Deputy Group CEO in April 2025. He brings more than 20 years of insurance industry experience, having held senior leadership positions in Europe, Southeast Asia and Africa.
The insurer credited him with advancing digital transformation, improving operational efficiency and strengthening service delivery.
Cazcarra holds a Master of Business Administration from Universidad Pontificia Comillas and a law degree from the University of Zaragoza, both in Spain. Jubilee cited his international experience and familiarity with the business as important to his appointment.
Founded in 1937, Jubilee operates in Kenya, Uganda, Tanzania and Burundi, serving about 1.4 million customers. Its businesses include life and health insurance and asset management, which provides investment products to individuals and institutions.
The leadership transition takes effect at the beginning of December, with Kipng’etich’s retirement scheduled for the previous day. Attention will now turn to Cazcarra’s priorities as he takes charge of the group’s digital, operational and regional growth plans.
