Julius Kipngetich to Retire from Jubilee Group After Eight Years as CEO

Jubilee Group is preparing for a major leadership transition following the announcement that its Group Chief Executive Officer, Dr. Julius Kipngetich, will retire after eight years in the position.

The regional financial services group has appointed Juan Cazcarra as his successor, with the new appointment scheduled to take effect on December 1, 2026. Kipngetich's retirement will officially take effect on November 30, 2026, bringing his leadership tenure, which began in 2018, to an end.

The announcement marks a significant development for Jubilee Group, one of East Africa's established insurance and investment companies, with operations spanning Kenya, Uganda, Tanzania and Burundi.

Who Is Replacing Julius Kipngetich at Jubilee Group?

Juan Cazcarra has been selected to take over the leadership of Jubilee Group following his experience within the organisation and the wider international insurance industry.

Cazcarra joined Jubilee in July 2021 as Group Chief Operating Officer before being appointed Deputy Group Chief Executive Officer in April 2025.

He brings more than 20 years of experience in the insurance sector, having worked in different leadership positions across Europe, Southeast Asia and Africa.

Before joining Jubilee, he spent much of his professional career at AXA Group, where he held senior positions that included Chief Operating Officer, Chief Financial Officer and Chief Risk Officer. His international experience includes working in Spain, France, Serbia and Indonesia.

His appointment is expected to provide continuity as Jubilee continues implementing its business transformation and regional growth strategies.

Juan Cazcarra's Role in Jubilee's Digital Transformation

During his time at Jubilee, Cazcarra has been involved in the organisation's Changamk@ transformation agenda.

The initiative focuses on improving operational efficiency, simplifying internal processes and enhancing customer experience through digital innovation.

His responsibilities have extended across several important business functions, including finance, strategy, marketing, information technology, operations and customer experience.

Jubilee Chairman Zul Abdul expressed confidence in the incoming CEO, highlighting his understanding of the organisation and his contribution to its progress.

Cazcarra holds a Master of Business Administration from Universidad Pontificia Comillas (ICADE) and a law degree from the University of Zaragoza, both in Spain.

Julius Kipngetich's Eight-Year Leadership Journey

Kipngetich took over as Jubilee Group CEO in 2018, bringing extensive experience in corporate leadership, public administration and academia.

Before joining Jubilee, he held several prominent positions in Kenya's public and private sectors.

His previous leadership roles include serving as Chief Executive Officer of Kenya Wildlife Service and Uchumi Supermarkets. He also worked as Chief Operating Officer at Equity Group Holdings and previously led the Investment Promotion Centre, now known as KenInvest.

His background in academia further contributed to his professional experience, having served as a lecturer at the University of Nairobi's School of Business.

During his eight years at Jubilee, the organisation underwent significant structural changes aimed at strengthening its business operations and focusing on more profitable areas.

One notable development was the sale of majority interests in its general insurance business, alongside an increased focus on life insurance, health insurance and asset management.

Jubilee's board has acknowledged his contribution to strengthening the group's regional presence, promoting sustainable growth and developing leadership talent within the organisation.

Jubilee Group's Financial Performance Ahead of the Leadership Change

The leadership transition comes as Jubilee Group continues to report growth in its financial performance.

For the 2025 financial year, the company recorded an 18 per cent increase in net profit, reaching KSh 5.55 billion.

Its performance remained positive during the first half of 2026, with net profit rising by 13 per cent to KSh 3.45 billion.

The group's total assets also stood at KSh 272.7 billion, highlighting its position within the regional financial services industry.

Founded in 1937, Jubilee Group serves more than 1.4 million customers and beneficiaries across four East African markets. The company is also listed on the Nairobi Securities Exchange.

What Next for Jubilee Group?

As Juan Cazcarra prepares to assume leadership, attention will turn to how the organisation builds on its existing achievements while pursuing its future business objectives.

The incoming CEO will inherit an established regional financial services group operating in an increasingly competitive environment.

Digital transformation, customer satisfaction, operational efficiency and sustainable financial growth are expected to remain important considerations for the company's future.

For Kipngetich, retirement brings an end to a long career that has included influential leadership positions in some of Kenya's major public and private institutions.

His departure marks the close of an important chapter in Jubilee Group's history, while Cazcarra's appointment signals the beginning of a new leadership era.

As December 1 approaches, Jubilee Group's stakeholders will be watching closely to see how the incoming CEO steers the organisation through its next phase of growth.