Jubilee appoints internal successor Juan Cazcarra as it pursues digital growth across East Africa

Jubilee Group has appointed Juan Cazcarra as its new Group Chief Executive Officer, effective December 1, 2026, succeeding Dr. Julius Kipng’etich, who will retire on November 30 after nearly nine years leading the East African financial services group.

Cazcarra, who joined Jubilee in July 2021 as Chief Operating Officer, has served as Deputy Group CEO since April 2025. His appointment puts an executive familiar with the group’s operations and transformation strategy in charge of a business with insurance and investment interests across Kenya, Uganda, Tanzania and Burundi.

He brings more than 20 years of experience in the insurance industry, having held senior leadership positions across Europe, Southeast Asia and Africa. According to Jubilee, his previous responsibilities have covered finance, operations and risk management, while his time at the group has involved advancing digital transformation, improving operational efficiency, simplifying processes and strengthening service delivery.

Jubilee Group Chairman Zul Abdul said Cazcarra’s industry experience, institutional knowledge and understanding of the group’s ambitions made him well placed to lead the company. Abdul said the board was confident in his ability to build on Jubilee’s achievements and guide its next phase of growth.

Cazcarra holds a Master of Business Administration from Universidad Pontificia Comillas (ICADE) and a bachelor’s degree in Law from Universidad de Zaragoza, both in Spain.

Jubilee reshaped its insurance business under Kipng’etich

Kipng’etich’s retirement closes a leadership period that began on January 1, 2018, during which Jubilee made significant changes to its business structure and investment portfolio.

One of the most consequential developments came in 2020, when Jubilee agreed to sell its majority interests in its general insurance businesses to Allianz. The transaction formed part of a broader effort to simplify the group’s operations and concentrate on more profitable insurance activities.

The group also expanded its investments in selected portfolio companies, including Uganda’s Bujagali hydropower project and SEACOM, an African fibre optic network operator. In 2025, Jubilee moved its headquarters to a property it had purchased from Coca-Cola in Nairobi’s Upper Hill business district.

These developments reflect the wider evolution of Jubilee’s business beyond its traditional insurance operations. Its portfolio includes life and health insurance, alongside Jubilee Asset Management, which provides investment solutions such as money market and fixed-income funds to individuals and institutions.

In announcing the leadership transition, Abdul credited Kipng’etich with strengthening Jubilee’s regional position, championing sustainable growth and developing management talent. He described the outgoing CEO’s contribution as instrumental to the group’s development and wished him well in retirement.

Cazcarra inherits Jubilee’s digital transformation agenda

The incoming CEO takes charge as Jubilee pursues technology-led approaches to insurance distribution, product development and customer service. His involvement in this strategy includes partnerships aimed at extending insurance access to individuals and businesses that have traditionally had limited access to formal financial protection.

In July 2026, Jubilee partnered with FSD Africa to develop affordable insurance and investment solutions for underserved Kenyans. The initiative involves J-Hub, Jubilee’s innovation and technology arm, and brings together technology companies to develop products addressing gaps in insurance access.

The collaboration brought seven insurtech companies into Jubilee’s product development efforts: Dukatech Solutions, Aura Insure Technologies, Inclusivity Solutions, DPE, Fiinovate, Agrails and Ibisa Network. Their areas of work include embedded insurance, digital underwriting, SME protection, climate intelligence, satellite data and artificial intelligence.

Cazcarra participated in the partnership in his capacity as Deputy Group CEO. The initiative forms part of Jubilee’s efforts to work with technology providers to develop new insurance products and distribution channels.

Jubilee has also partnered with bolttech to expand digital distribution in its health insurance business. The collaboration focuses on embedded insurance, with technology supporting customer onboarding, premium collection and claims processing.

These partnerships build on the group’s wider efforts to simplify operations and improve service delivery. Cazcarra will now oversee the execution of these priorities across Jubilee’s regional businesses as the group seeks to connect its technology investments with broader insurance access and operational performance.

Jubilee enters leadership transition after strong profit growth

The appointment comes as Jubilee reports positive financial performance, providing the incoming CEO with a substantial earnings base as he prepares to take over.

The group recorded an 18% increase in net profit to KSh5.55 billion for the 2025 financial year. Its profit rose by a further 13% to KSh3.45 billion in the first half of 2026, while total assets reached KSh272.7 billion.

Founded in 1937, Jubilee serves more than 1.4 million customers and beneficiaries across Kenya, Uganda, Tanzania and Burundi. Its operations span insurance and investment management, with products serving individuals, families, businesses and institutional investors.

For Cazcarra, the priorities include sustaining the group’s financial performance, strengthening its regional operations and advancing the digital initiatives already underway. His experience within Jubilee’s senior management gives him familiarity with the business as he assumes responsibility for its insurance and investment operations.

He will formally take over from Kipng’etich on December 1, 2026, beginning a new leadership period for one of East Africa’s established insurance and financial services groups.