Allianz buys Kenyan insurer's nonlife operations

Germany-based Allianz SE has signed an agreement to acquire Kenyan insurer Jubilee Holdings Ltd.'s nonlife operations in Kenya, Tanzania and Uganda for 10.8 billion Kenyan shillings ($100 million), The Africa Report reports. The transaction, which is expected to be completed in the first quarter of next year, also includes short-term insurance segment in Burundi and Mauritius.

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