NAIROBI, Kenya, June 13 – Jubilee Holdings is betting on retail expansion across East Africa, with the insurer identifying gig economy workers, SMEs, women and diaspora communities among key customer segments expected to support its next phase of growth.
The regional insurer said the strategy will underpin its retail expansion plans following an 18 percent increase in net profit to Sh5.6 billion in 2025, as it moves beyond traditional insurance products to broaden access to financial protection, health, savings and investment solutions.
Speaking during the company’s 88th Annual General Meeting, Chairman Zul Abdul said Jubilee sees future growth coming from customers who have historically been overlooked by conventional financial services models.
“Entering our 90th year is a significant milestone for Jubilee. It reflects the trust we have built over decades with our shareholders, customers, employees and partners across the region.”
“We are focused on creating solutions that are more accessible, more relevant and better aligned to the realities of how people live, work and plan for their future today.”
The insurer plans to deepen customer segmentation and expand community-based and affinity partnerships in a bid to increase product relevance and improve financial inclusion across the region.
The move reflects a broader shift within the insurance industry, where firms are increasingly targeting informal sector workers, micro-enterprises and diaspora populations that remain largely underinsured despite representing a significant share of economic activity.
Jubilee, which operates in Kenya, Uganda, Tanzania, Burundi and Mauritius, believes this customer groups present a major growth opportunity as demand rises for flexible and affordable financial products tailored to changing work patterns and income streams.
To support the expansion, the company is increasing investment in digital platforms and artificial intelligence tools aimed at simplifying customer onboarding, improving service delivery and strengthening risk management.
The insurer says more than 90 percent of new retail policies are now issued digitally, a trend it expects will help accelerate access to insurance and other financial products among emerging customer segments across East Africa.
The retail-focused strategy comes as insurers seek new growth avenues in a region where insurance penetration remains low, leaving millions of individuals and businesses outside formal financial protection systems.
