Africa-Press – Uganda. Jubilee Holdings Limited has announced the amalgamation of its Ugandan health and life insurance subsidiaries following formal approval from the Insurance Regulatory Authority of Uganda (IRA).
The restructured entity will operate under the name Jubilee Life Insurance Company of Uganda Limited (JLICU).
The decision comes after a comprehensive review of Jubilee’s operations in Uganda, with the company saying the integration is intended to streamline processes, enhance service delivery and reinforce its market leadership in the country’s expanding insurance sector.
Under the new structure, all assets, liabilities and policy obligations of Jubilee Health Insurance Company of Uganda Limited (JHICU) will transfer to Jubilee Life Insurance Company of Uganda Limited.
Existing policies remain valid, and the firm has assured clients, partners and employees that business operations will continue uninterrupted during the transition.
Jubilee Holdings Chairman Zul Abdul said the consolidation is part of a long-term strategy to strengthen the company’s footprint while continuing to serve customers with reliability and innovation.
“For nearly nine decades, Jubilee Holdings has adapted to industry changes to remain the trusted insurer of choice across East Africa. This amalgamation is a strategic step in reinforcing our leadership position while affirming our unwavering commitment to our customers,” he said.
“We will ensure uninterrupted service throughout this transition and continue to offer innovative, affordable and relevant insurance solutions that meet the evolving needs of individuals, families and businesses in Uganda and beyond.”
Abdul added that the restructuring was initiated to deliver greater value to all stakeholders, noting that integrating the health and life portfolios will boost efficiency and improve revenue generation.
“By integrating our Health and Life businesses in Uganda, we are building a stronger, more resilient organization that will drive operational efficiencies and improve revenue generation,” he said.
“Our customers will benefit from a seamless experience, while our shareholders can expect continued financial stability and long-term profitability.”
Juma Kisaame, Chairman of Jubilee Life Insurance Company of Uganda, said the amalgamation comes at a crucial time for Uganda’s insurance market, where demand for long-term products and integrated health solutions has been steadily rising.
“This is a timely and necessary step for our business and for the Ugandan market. The integration strengthens our capacity to serve customers with better coordination and clearer processes,” Kisaame said.
The company reiterated its commitment to transparency and compliance throughout the transition and promised continued engagement with regulators, clients and partners until the process is completed.
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