The fall in the shares of the companies could be attributed to a fall in demand as foreign investors withheld their money, while others sold off their share to either keep cash or reinvest in their home countries and other markets considered safer. The market value of the companies listed on the Uganda Securities Exchange […]
Tag: jubilee holdings
Allianz says its operating profit slipped to £2.63 billion in the fiscal third quarter
Allianz SE (ETR: ALV) said on Friday that its operating in the fiscal third quarter came in slightly lower than lasts year. In an announcement last week, Allianz revealed to have entered a strategic partnership with Jubilee Holdings. Shares of the company jumped 1.5% in premarket trading on Friday. Allianz SE now has a per-share […]
Jubilee Insurance eyes new markets after Allianz deal
Jubilee Holdings chairman Nizar Juma during the interview. PHOTO | SALATON NJAU | NMG East Africa’s largest insurer Jubilee Holdings recently struck a Sh10.8 billion deal with Allianz SE, the largest general insurer in the world.Jubilee chairman Nizar Juma spoke to the Business Daily about the state of business now given the Covid-19 disruption and […]
Allianz says its operating profit for the third quarter fell to £2.63 billion.
Allianz says its operating profit for the third quarter fell to £2.63 billion. The German company is halting its share buyback program for 2020. Allianz’s property and casualty business was hit hardest by the COVID 19 crisis. Allianz SE (ETR: ALV) said on Friday that its operating business was down slightly in the third quarter […]
Allianz enters strategic partnership with Jubilee Holdings
Jubilee Holdings Limited and Allianz have signed an agreement to establish a strategic partnership in the five African countries where Jubilee Insurance currently operates. The partnership aims to cover the property & casualty insurance segment in Kenya, Tanzania and Uganda as well as the short-term insurance segment in Burundi and Mauritius. JHL will retain ownership […]
Jubilee Insurance and Allianz forge Strategic Partnership
Partnership covers general insurance in five East African countries; it aims to expand and broaden the insurance markets across East Africa; transaction is subject to regulatory approvals Jubilee Holdings Limited (“JHL” or “Jubilee Insurance”) ( www.JubileeInsurance.com ), East Africa’s largest insurance group, and Allianz ( www.Allianz.com ), one of the world’s leading insurers and asset […]
Jubilee Insurance and Allianz forge Strategic Partnership
Partnership covers general insurance in five East African countries; it aims to expand and broaden the insurance markets across East Africa; transaction is subject to regulatory approvals Jubilee Holdings Limited (“JHL” or “Jubilee Insurance”) ( www.JubileeInsurance.com ), East Africa’s largest insurance group, and Allianz ( www.Allianz.com ), one of the world’s leading insurers and asset […]
Job cuts spark insurance policy cash withdrawals
Insurance firms have reported a sharp rise in policy cancellations and withdrawals by customers squeezed by the economic fallout from Covid-19, raising fears that many insurers could soon face liquidity challenges. Top insurers confirmed a sharp rise in withdrawals and surrenders, majorly on life assurance and pension products — a trend linked to the coronavirus […]
Allianz Acquires Controlling Stake in Jubilee’s General Insurance Business
NAIROBI, Kenya, Sep 29-German insurance firm Allianz has offered Sh10.8 billion in a deal to acquire Jubilee Holding’s General Insurance business, which is two-thirds of the firm’s portfolio. The proposed transaction pending regulatory approval will see Allianz acquire controlling stakes in Kenya, Tanzania, and Uganda as well as the short-term insurance segment in Burundi and […]
Jubilee insurance sells majority stake to Germany’s Allianz Group
Currently, the regional insurers commands the largest market share in Uganda’s general insurance business Kampala, Uganda | ISAAC KHISA | Regional insurer, Jubilee Holdings Ltd, is selling between 51% and 66% stake of its operating subsidiaries engaged in short term general insurance business across the region to the Munich-based Allianz Group for Kshs10.8bn. Jubilee Holdings […]