OCTOBER 27, 1986


To commemorate the Golden Jubilee of the incorporation of the Jubilee insurance Company, a reception was held at the Serena Hotel in Mombasa on 27th October 1986.

Present at the reception were Prince Amyn Mohamed, the Commissioner of Insurance, Mr. Adam H. Ali, the Provincial Commissioner, Coast Province, and His Worship the Mayor of Mombasa.

Mr.Abdul Jaffer, in his speech, traced the history of the company. He expressed his gratitude to Mowlana Sultan Mohamed Shah for the foresight he had shown in establishing the Jubilee Insurance Company. He surveyed the progress the company has made in the past fifty years.

In a speech read on behalf of Prof.Saitoti, Kenya's Minister of Finance, it was stated that there were only two insurance companies whose shares were quoted on the Nairobi Stock Exchange and Jubilee Insurance Company was one of them. It was reiterated that more insurance companies should emulate Jubilee in the years to come, and offer shares to the public.

Prof.Saitoti's speech further stated:- "The Insurance industry should also create "insurance awareness" in the minds of the public so that more and more Kenyans take advantage of the insurance services available in Kenya. ...When all is said and done, a company's commitment to its social responsibilities, coupled with a desire to respond to the political and cultural environment in which it operates, determines the long run support it will be able to receive from the community in which it operates".

Source: African Ismaili (Dec.1986)

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