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Jubilee buys additional Sh4.4bn shares in Uganda power plant

Jubilee buys additional Sh4.4bn shares in Uganda power plant
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Allianz acquires majority stake in Jubilee Insurance


Allianz acquires majority stake in Jubilee Insurance
May 19, 2021
Written by Ernest Jjingo
Allianz, one of the world’s leading insurers and asset managers, has become the majority shareholder in Jubilee Holdings Limited (JHL)in Kenya.
This follows the acquisition of a 66 per cent stake in the company. According to the memorandum of understanding signed by the two parties,  Allianz will follow up with the completion of acquisitions of Jubilee General Insurance businesses in Tanzania, Uganda, Burundi and Mauritius.
This follows the execution of an earlier agreement whereby Allianz agreed to acquire the majority shareholding in the short-term general insurance business operations of JHL in i ....

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Allianz Completes Acquisition Of East Africa's Jubilee Insurance | Business News


 
Allianz has completed an acquisition of 66 percent stake in Jubilee Holdings Limited (JHL), East Africa’s largest insurance group.
The announcement means that JHL retains a 46 percent shareholding in the company.
The acquisition follows the execution of an agreement signed on September 29, 2020, in which Allianz agreed to acquire about 1,522,622 ordinary shares the majority shareholding in the short-term general (property and casualty) insurance business operations of JHL in five countries in Africa.
These are Kenya, Uganda, Tanzania, Burundi and Mauritius.
Thus, Jubilee General Insurance Limited in Kenya becomes a member of the Allianz Group and upon completion of corporate filings, will operate under the name: Jubilee Allianz General Insurance Limited. ....

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