Allianz, Jubilee Holdings eye Ethiopian insurance market

After German insurer Allianz SE bought a 66% stake in Kenya-based insurer Jubilee Holdings Ltd., both insurers looking to expand their insurance business to Ethiopia, Middle East Insurance Review reported citing The East African. Allianz has recently completed the acquisition of a 66% stake in insurer Jubilee’s Kenyan general insurance business as part of a broader $100 million deal to acquire Jubilee’s general insurance businesses in Mauritius, Burundi, Tanzania and Uganda.

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