Jubilee Group has picked its deputy chief executive, Juan Cazcarra, to lead the regional insurer, as long-serving Group CEO Dr Julius Kipng'etich prepares to retire at the end of November.

In a statement issued on Monday, the Nairobi Securities Exchange-listed group said Mr Cazcarra will take over as Group Chief Executive Officer on December 1, 2026. Dr Kipng'etich, who has been at the helm since 2018, retires on November 30.

Insider promoted

Mr Cazcarra is no stranger to the business. He joined Jubilee in July 2021 as Group Chief Operating Officer and was elevated to Deputy Group CEO in April 2025, a move widely seen as part of succession planning.

He brings more than 20 years of insurance experience from senior roles in Europe, South East Asia and Africa. The board credits him with driving the group's digital transformation, improving efficiency, simplifying processes and strengthening customer service. He holds an MBA from Universidad Pontificia Comillas (ICADE) and a law degree from Universidad de Zaragoza, both in Spain.

"Juan brings extensive industry experience, institutional knowledge and a clear understanding of our business and ambitions," said Group Chairman Zul Abdul. "We are confident in his ability to build on our achievements and lead the Group through its next phase of growth."

Kipng'etich's eight years

Dr Kipng'etich steered Jubilee through a major restructuring during which the group sold a majority stake in its general insurance business to Germany's Allianz and refocused on life and health insurance and asset management.

The board said he strengthened the group's regional position, supported sustainable growth and developed talent. "We extend our sincere appreciation to Dr Julius for his exceptional leadership and dedicated service to Jubilee," Mr Abdul said, wishing him well in retirement.

What Cazcarra inherits

  • A group founded in 1937 that serves more than 1.4 million customers and beneficiaries in Kenya, Uganda, Tanzania and Burundi.
  • Life and health insurance operations plus Jubilee Asset Management.
  • A growing digital agenda, and a health business adapting to the shift to the Social Health Authority.

Business Today Kenya reports that the group's net profit for 2025 rose 18 per cent to Sh5.6 billion.

The handover is one of several leadership changes in Kenya's financial sector this year, as insurers and banks reposition for tougher competition and new capital rules.

Photos: People Daily (Jubilee Group/Instagram); Citizen Digital (Jubilee Group). Thumbnail design: HAMASTA MEDIA.