Jubilee, Allianz set eyes on Ethiopian market after share sale deal
Thursday May 06 2021
Jubilee Holdings Limited Chairman Nizar Juma and Allianz Africa Regional CEO Coenraad Vrolijk on September 29, 2020 in Nairobi. PHOTO | FILE | NMG
Summary
Allianz completed the acquisition of 66 percent stake in Jubilee General Insurance Company (Kenya), leaving the holding company (JHL) with 34 percent of the shares.
Following the acquisition, Jubilee General Insurance Limited (Kenya) is now a company of the Allianz Group and upon completion of corporate filings will be renamed “Jubilee Allianz General Insurance Limited”.
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Regional insurer Jubilee Holdings Ltd (JHL) and Germany’s insurance and asset management firm Allianz have put entry into the Ethiopian market on the radar after the conclusion of their multimillion dollar share sale deal relating to general insurance business.