Allianz expands in East Africa with acquisition in Uganda

German insurer Allianz Se has acquired a majority stake in Jubilee Insurance Company of Uganda Ltd. as part of its strategic move to expand into the East African region, The Independent reported. The transaction follows Allianz’s acquisition of a majority stake in Kenya-based insurer Jubilee Holdings Ltd., with the partnership aiming to offer property and casualty insurance in Uganda, Kenya and Tanzania.