Jubilee Insurance lays off 52 employees

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Jubilee Insurance is set to lay off 52 of its 628 full-time workers ahead of the intended split of its medical and general insurance businesses.

The insurer announced the split in core business in November last year with an aim to align operations to international regulatory requirements.

In a statement issued on Thursday, the insurer said it had made the roles which represent 8.2 percent of the 628 fulltime positions redundant following new found operational efficiencies from the enterprises split.

“As a result of this comprehensive exercise, opportunities for increased operational efficiency were identified, including the realignment of Jubilee Insurance Company Kenya (JICK) human resource talent base in line with the operational needs of the new companies,” read the statement in part.

Exiting staff members are expected to receive full compensation including a salary top up to the end of the month, compensation for unutilized leave days and severance pay for each period of service to the firm.

Further, the laid off employees will be entitled to medical insurance for the next three months in addition to financial planning advice and outplacement services.

Jubilee Insurance Group Chairman Nizar Juma expects the split of business to better the insurer’s service delivery to clients.

“We are committed to providing the best to our customers and the split will provide opportunities to simplify and strengthen our operational model and further enhance both service delivery and efficiency’, he said.