Underwriter Allianz has taken control of Jubilee Insurance Mauritius Limited after purchasing 66% of shares in the company (equivalent to 3,554,275 ordinary shares). The...
In Kenya, both Sanlam and Allianz have a presence. Allianz completed the acquisition of a majority stake in Kenya's Jubilee Insurance in 2021 giving it a firm foothold in the East African market.
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As more aircraft return to the skies, a new report from aviation insurer Allianz Global Corporate & Specialty (AGCS) highlights some of the unique challenges airlines and airports face as they restart operations – ranging from “rusty” pilots to insect infestations.
The acquisition, announced on 4th May 2021, follows the execution of an agreement signed on September 29, 2020, whereby Allianz agreed to acquire the majority shareholding in the short-term general (property and casualty) insurance business operations of JHL in in five countries in Africa, namely, Kenya, Uganda, Tanzania, Burundi and Mauritius. Following this acquisition, Jubilee General Insurance Limited Kenya is now a company of the Allianz Group and upon completion of corporate filings will operate as “Jubilee Allianz General Insurance Limited”.
Allianz is confident about the short-term economic development and forecasts a strong rebound of global GDP by +4.4% for 2021.
Jubilee ' insurance business remains healthy with general business accounting for 28% of the group’s gross written premiums.
The global company has acquired a majority stake in JHL's general insurance business, also known as the property & casualty insurance segment
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