Tag: Allianz SE

Jubilee Allianz General Insurance Kenya appoints Adja Samb as CEO

Frank

KENYA – Jubilee Allianz General Insurance Limited Kenya, has appointed Adja Samb as the new Chief Executive Officer, effective July 1, 2021. Adja Samb will succeed Catherine Igathe, the current CEO of Jubilee Allianz General Insurance Limited Kenya, who is exiting the firm in July 2021 to pursue other opportunities. In early 2021, Allianz SE and Jubilee Holdings announced a 66% stake acquisition in the Jubilee General Insurance Company in Kenya to form Jubilee Allianz. Other acquisitions of Jubilee General Insurance businesses in Tanzania, Uganda, Burundi, and Mauritius are expected to follow.…

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Allianz SE completes the acquisition of 66% stake in Jubilee Holdings

Frank

KENYA – German multinational financial services company Allianz SE, one of the world’s leading insurers and asset managers, has completed the acquisition of a 66% stake in Jubilee Holdings general insurance arm in Kenya making it the majority shareholder. The purchased stake represents 1,522,622 ordinary shares acquired from Jubilee Holdings Limited which now retains a 34% shareholding in the company. In a statement sent to the press, the German financial services provider expects to complete the acquisition of Jubilee General Insurance businesses in Tanzania, Uganda, Burundi, and Mauritius in due course. The…

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Allianz SE acquires majority stake in Kenya’s Jubilee Holdings subsidiaries

Frank

KENYA – German conglomerate Allianz SE has bought a majority stake in Jubilee Holdings regional general insurance subsidiaries for a total of $100 million making it one of the largest transactions in the industry in recent past. Allianz will acquire controlling stakes of between 51 percent and 66 percent in Jubilee’s short-term or general insurance units in Kenya, Uganda, Tanzania, Burundi and Mauritius. Jubilee Holdings will receive $700 million while the rest will be invested in the operating businesses. As part of the transaction, Allianz’s subsidiary in Kenya (Allianz Insurance Company…

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