Allianz completes acquisition of 66% of Jubilee Insurance Mauritius

Allianz - Jubilee Insurance MauritiusAllianz has completed the acquisition of 66% of Jubilee Insurance Mauritius from Jubilee Holdings Limited (JHL) and the Aga Khan Fund for Economic Development (AKFED).

However, JHL retains an 8.37% stake in the capital of the Mauritian subsidiary and an additional 25.63% via its subsidiary Jubilee Investments Company.

This is the fifth and final transaction carried out as part of the agreement signed in September 2020 between the German group and the African holding company.

The agreement covers Allianz's acquisition of JHL's non-life insurance business in five East African countries, namely Kenya, Uganda, Tanzania, Burundi and Mauritius.

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