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Insurance giant Jubilee gets new chief executive officer
The new CEO will be in charge of Jubilee insurance operations in Kenya, Tanzania, Uganda, Burundi and Mauritius.

Former Uchumi Supermarkets chief executive Julius Kipng’etich has been appointed as the Jubilee Holdings'  regional CEO, placing him in charge of five markets where the insurance firm operates.

 

The insurance firm announced today in a statement that, Mr Kipng’etich takes stewardship of Jubilee’s operations in Kenya, Tanzania, Uganda, Burundi and Mauritius effective January 1.

 

Early last month, he resigned from his leadership position at Uchumi Supermarkets where he had been in charge since moving from Equity Bank in August 2015.

 

Jubilee Holdings’ net profit for six months ending June 3, 2017,7 increased 18.99 per cent largely helped by improved performance of the Nairobi bourse that helped to dampen a sharp jump in claims payments.

 

The listed firm’s net earnings in the period climbed to Sh1.88 billion from Sh1.58 billion as gains from investments at the Nairobi Securities Exchange , largely comprising government securities, increased four-and-a-half times.