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Tag: Coenraad Vroliik

German Insurer Buys into Jubilee Holdings

German Insurer Buys into Jubilee Holdings

Business, FEATURED, NEWS
The deal is worth Sh10.8 billion Allianz to acquire a controlling stake of between 51 and 66 per cent in Jubilee’s General Insurance businesses. Jubilee Holdings chairman Nizar Juma (L) Allianz Africa CEO Coenraad Vroliik (R) The transaction is subject to regulatory approvals in five countries including Kenya and Uganda. 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 51 and 66 per cent in Jubilee’s General Insurance business Kenya, Tanzania, Uganda, Burundi and Mauritius, forming Jubilee-Allianz General Insurance Limited. JHL will retain ownership of its Life...
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