Jubilee Insurance to expand Africa-wide

NAIROBI Thu Feb 3, 2011 4:57am EST

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NAIROBI Feb 3 (Reuters) - Jubilee Insurance, a subsidiary of Kenyan group Jubilee Holdings (JUB.NR), plans to expand into central, west and north Africa, tapping 12 new markets by 2014.

The insurance firm, listed in Kenya, Tanzania, and Uganda, also said on Thursday it would invest in Kenya to deepen its agency network countrywide and make premium payments easier.

"The expansion ... is geared towards giving Jubilee an African footprint, and follows the consolidation of its business in east Africa," it said, without naming any countries it planned to venture into.

Jubilee Insurance, east Africa's largest composite insurer, also has operations in Mauritius and Burundi. (Reporting by Richard Lough; Editing by George Obulutsa and Dan Lalor)

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