East Africa: Allianz acquires a majority stake in Jubilee's non-life subsidiaries

Allianz has finalized the acquisition of a majority stake in the non-life subsidiaries of Jubilee Holdings Limited (JHL) in Kenya, Uganda, Burundi, Tanzania and Mauritius.

On 29 September 2020, both companies signed a strategic partnership under which the German insurer will take control of JHL's non-life activities in five African countries.

The first transaction in Kenya was finalized in May 2021. The transactions in Uganda, Burundi, Tanzania and Mauritius were finalized in October 2021, March 2022, May 2022 and September 2022 respectively.