After selling its shares in subsidiaries in Benin, Mali, Togo and Burkina Faso to the Senegalese firm Sunu in 2019, and merging some of its operations with Sunu Centrafrique Assurances, Allianz just concluded a strategic partnership with Jubilee Holdings– the largest insurance group in East Africa.
Allianz targets the 5 African countries where Jubilee Insurance currently operates. The agreement covers Jubilee’s non-life operations in Kenya, Tanzania and Uganda, and the short-term insurance segment in Burundi and Mauritius, which will be transferred to Allianz for $100m.
Source : The Africa Report
