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 […]
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 […]
IRA chief executive Godfrey Kiptum. FILE PHOTO | NMG Businesses and individuals have spent Sh35.73 billion on non-existent insurance covers after brokers failed to remit premiums, exposing the customers to heavy losses when they make compensation claims. The Insurance Regulatory Authority (IRA) has disclosed in its latest annual report that its threats to deny the […]
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 […]
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 […]
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 […]
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