Jubilee Insurance Announces 3rd Edition Of The Iconic Live Free Cycling Competition

By Soko Directory Team / Published September 3, 2024 | 1:53 pm

Jubilee Insurance in collaboration with Grand Nairobi Bike Race has today announced the launch of the third edition of the Jubilee Live Free Race powered by GNBR.

The international premier cycling event on Sunday, 29^th September 2024 will bring together up to 2,500 elite cyclists from 21 countries including Ethiopia, Eritrea, USA, France and the East African Community for an intense and adrenaline-fueled competition right at the heart of Nairobi City.

The event will harness the freedom inherent in cycling to raise awareness about practical steps that individuals and the broader community can take for a well-rounded life. This will include conversations on the importance of prioritizing health and financial planning while demystifying insurance and its role in safeguarding wellness, managing risk, and growing wealth. Additionally, it will drive discussions on how embracing sustainable practices can protect the environment.

With climate change, pollution, health challenges, and financial instability dominating headlines worldwide, the need for sustainable practices, healthier lifestyles, and sound financial management has never been more critical.

A joint 2023 report by the World Health Organization and World Bank revealed that more than one billion people—about 14% of the global population—experienced such large out-of-pocket payments for healthcare that approximately 1.3 billion individuals were pushed or further pushed into poverty, including 300 million people who were already living in extreme poverty.

This alarming reality affects individuals in Kenya and across the East African region. Beyond health expenditure, the Global Findex Report also reveals that only 41% of adults in East Africa are financially resilient, underscoring the importance of initiatives that promote financial literacy, health, wellness and stability.

The third Jubilee Live Free Race comes at a time when Jubilee Insurance has just launched its thematic campaign, “There’s Living and There’s Living Free,” which seeks to meet individuals at their point of need by enhancing their understanding of investment and insurance solutions.

Jubilee Insurance’s sponsorship of the Grand Nairobi Bike Race aligns with the company’s strategic focus and commitment to empower individuals unlock their desired future. For the third consecutive year, Jubilee Insurance is proud to be the title sponsor, investing a total of KES 20 million into the event—KES 10 million in cash and an additional KES 10 million in advertising and promotion. Since the partnership began in 2022, Jubilee Insurance has contributed KES 60 million to this exhilarating event.

Speaking during the announcement of the 2024 edition, Caroline Ndungu, Group Head of Marketing and Corporate Communications at Jubilee Insurance noted that the annual Jubilee Live Free Race aligns with the company’s strategic commitment to empower people to live life to the fullest.

“Our brand promise is centered on enabling people to live free, and this event naturally ties in with that vision. We are excited about the third edition, not only for the platform it provides for competition and fun but also for its role in fostering conversations that inspire behavioral change and drive meaningful societal impact. We look forward to raising the profile of this event with the ambition of transforming it into a Tour de Kenya, reflecting our commitment to its continued growth and impact,” said Caroline.

Building on last year’s success, the 2024 Jubilee Live Free Race will feature six thrilling categories including the flagship 60 km main race, a 12 km family fun ride, the popular 48 km black mamba ride, 2 km kiddies’ race, a 48 km para-cycling race, and 60 km team race for teams of 6 riders. The race will kick off at Nyayo Stadium, weaving through Uhuru Highway and other designated routes. Detailed route map information will be provided to participants upon registration.

Juan Cazcarra, Group Chief Operating Officer at Jubilee Insurance said, “As a company committed to making a difference, the Jubilee Live Free Race aligns with our broader goals of promoting health, sustainability, and financial wellness. We are confident that the 2024 edition will strengthen our partnerships with key stakeholders who share our vision, while also helping people lead healthier, more sustainable, and financially secure lives.”

Dr. Julius Kipngetich, Group Chief Executive Officer at Jubilee Insurance said, “This event always creates an exciting time for cycling enthusiasts and families alike. We are proud to host the 2024 edition and leverage it to contribute to issues of both national and global significance. It’s an opportunity for us to engage with our community while addressing critical challenges through our shared commitment to health, sustainability, and positive change.”

On her part, Loise Wachira, Director at Grand Nairobi Bike Race highlighted that the Jubilee Live Free Race has not only significantly elevated the profile of the cycling sport but also contributed to making the world a better place by fostering community engagement and addressing pressing societal issues.

“The last two editions of the Jubilee Live Free Race have made a significant impact, and this year, we are excited to present an even more thrilling event. This year’s race will not only offer cyclists a chance to showcase their skills and be recognized for their achievements but also provide families with memorable opportunities to bond and participate in engaging activities. We look forward to further engaging our communities as we continue our efforts to make a positive contribution towards making the world a better place,” said Loise.

John Cheboi, Chief Corporate Communications Officer at Kenya Urban Roads Authority (KURA) said, “It has been an enriching experience collaborating with Jubilee Insurance and the Grand Nairobi Bike Race over the past two years. We fully support what this race represents and the values it promotes, and we are committed to continuing our support to ensure its ongoing success.”

About Soko Directory Team

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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