Jubilee Holdings chairman Nizar Juma (L) Allianz Africa CEO Coenraad Vroliik (R) The African subsidiary of the global insurer and asset manager Allianz plans to buy an eight per cent stake in Kenya’s Jubilee Holding Plc (JHL). The offer, subject to regulatory approvals, will see the Germany based firm acquire a controlling stake of between […]
(Ecofin Agency) – The Kenyan insurance sector is likely to experience a wave of merger/acquisition operations by the end of 2020. The sector’s regulator has given 20 of the country’s 56 insurance companies until December 2020 to meet the capital increase requirement; a difficult mission in the current economic context. The first merger/acquisition announcement came […]
Jubilee Holdings Limited (“JHL” or “Jubilee Insurance”), East Africa’s largest insurance group, and Allianz, one of the world’s leading insurers and asset managers, have signed an agreement to establish a strategic partnership in the five African countries where Jubilee Insurance currently operates. The partnership covers the general insurance business (also known as the property & […]
Jubilee Holdings #ticker:JUB has gained Sh5.2 billion in valuation at the NSE after the firm announced last week the sale of stakes in its regional general insurance subsidiaries to German conglomerate Allianz SE for Sh10.8 billion. The notice of the deal was issued last Tuesday, triggering a rally in the firm’s share price from Sh220 […]
From Left: Nandini Wilcke, Regional Head of Mergers, Acquisitions and Transformation and General Counsel of Allianz Africa, Mr. Nizar Juma Jubilee Holdings Limited and Coenraad Vrolijk – Regional CEO and Regional Board Member of Allianz Africa PHOTO | COURTESY Valued at Ksh.10.8 billion ($100 million), the deal will see Allianz acquire about two thirds of […]
What topics are important for the financial markets on Wednesday morning? Today, among other things, in view: Five weeks before the US presidential election, incumbent Trump and his challenger Biden had a heated exchange in the first TV duel, the federal government and states have tightened the requirements of the corona crisis due to increasing […]
Allianz Africa regional CEO Coenraad Vrolijk (left) and Jubilee Holdings chairman Nizar Juma during the announcement of the agreement to establish a strategic partnership yesterday at Jubilee Centre in Nairobi. PHOTO | SALATON NJAU | NMG Jubilee Holdings is selling majority stakes in its regional general insurance subsidiaries to German conglomerate Allianz SE for a […]
Global insurer Allianz has announced a partnership that will see it acquire controlling stakes in five East African general insurance companies, all of which belong to Jubilee Holdings Limited, the region’s largest insurance group. The partnership, which has been finalised but still requires regulatory approval, covers the property & casualty segment in Kenya, Tanzania and […]
Jubilee Holdings Chairman Nizar Juma. FILE PHOTO | NMG Jubilee Holding has bought an additional 9.44 percent stake in Uganda’s Bujagali Energy Limited (BEL) for Sh4.2 billion ($40 million), doubling its ownership in the hydroelectric power plant. The firm announced Tuesday it bought more shares from its technical partners, SN Power, in the 250-megawatt Bujagali […]
Top insurance firms have marked significant profit declines with some posting losses as their performance tumbles under the weight of declining returns from stocks and properties. The slump in earnings for the underwriters is however an all too familiar pain for an industry which has left itself exposed to investments. Since then, insurers have had […]
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