Allianz & Jubilee Insurance Forge Strategic Partnership
We are pleased to announce that Allianz and Jubilee Holdings Limited, East Africa’s largest insurance group, have signed an agreement to establish a strategic partnership in the five African countries where Jubilee Insurance currently operates.
The partnership covers the general insurance business in Kenya, Tanzania and Uganda as well as the short-term insurance segment in Burundi and Mauritius. Allianz will become a partner in each of these companies alongside of Jubilee Holdings, with between 51% and 66% of the interests in each company. The transaction is subject to regulatory approvals.
Through this partnership, Allianz and Jubilee Insurance aim to jointly expand and broaden insurance markets across East Africa, leveraging the global expertise and capacity of the Allianz Group and Jubilee Insurance’s deep regional knowledge, extensive networks and brand reputation.
JHL’s subsidiary in Kenya, Jubilee General Insurance Limited is the future joint venture company which will also acquire the business of Allianz Insurance Company of Kenya Limited.
All the company’s operational processes remain in effect. Your policy remains unaffected and can be renewed as usual. We will continue to honor our commitment to you without exception, reimburse your claims like before and deliver the quality service that you have come to expect from Allianz.
We will ensure that the transition will be completely seamless for you, and that afterwards you can benefit from the new boarder network and products offered by Allianz and Jubilee.
We thank you for your continued support and look forward to remaining your preferred insurance partner.
We will reach out to you in the coming months to share more details on the transaction.