Magazine date:
Jul 2014 Swiss Re has made its entry onto the kenyan insurance market by purchasing stakes of the investment company, Leapfrog Investments, in Apollo Investments Limited.
The entire shareholding of Leapfrog in the insurer, 26.9% of Apollo's capital, has been acquired by Swiss Re Direct Investment Company for an undisclosed amount.
This operation represents a new major arrival onto the Kenyan market, after the purchase of Shield Assurance by Prudential Plc (United Kingdom).
As a reminder, Appolo operates in Eastern Africa and in Kenya, through its subsidiaries APA Insurance (non-life) and APA Life (life insurance).