Jubilee merges Uganda Health and Life Insurance Subsidiaries after IRA approval

_______________

Jubilee Holdings Limited has announced the amalgamation of its Ugandan Health and Life insurance subsidiaries, Jubilee Health Insurance Company of Uganda Limited (JHICU) and Jubilee Life Insurance Company of Uganda Limited (JLICU). 

The continuing entity will be Jubilee Life Insurance Company of Uganda Limited (JLICU).

The decision follows a comprehensive review of the Group’s Ugandan operations and a formal approval by the Insurance Regulatory Authority of Uganda (IRA).

The move brings both businesses under one structure, enhancing operational efficiency and service delivery while reinforcing its market leadership in Uganda.

Existing policies will remain valid, and all assets, liabilities and policy obligations of Jubilee Health Insurance Company of Uganda Limited will transfer to Jubilee Life Insurance Company of Uganda Limited. 

Customers, employees, and partners should expect normal operations throughout the transition period.

Speaking during the announcement, Jubilee Holdings Chairman Zul Abdul, said the amalgamation is intended to strengthen Jubilee’s footprint in Uganda while reinforcing the company’s commitment to delivering excellence and peace of mind to customers.

“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. 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.”

He further reiterated that the amalgamation was initiated with customers in mind and is uniquely designed to deliver tangible value to all the stakeholders.

“By integrating our Health and Life businesses in Uganda, we are building a stronger, more resilient organisation that will drive operational efficiencies and improve revenue generation. Our customers will benefit from a seamless experience, while our shareholders can expect continued financial stability and long-term profitability,” Abdul added.

On his part, Jubilee Life Insurance Company of Uganda Chairman Juma Kisaame said that the amalgamation comes at a time when Uganda’s insurance industry is steadily expanding, with demand for long-term products and integrated health solutions on the rise.

He added that bringing both businesses together equips the company with the combined strengths and clarity needed to respond more effectively to this shift.

“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 stressed.

Jubilee Holdings remains fully committed to transparency and regulatory compliance throughout this transition and will continue engaging with all stakeholders to ensure a smooth process.