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Allianz completes acquisition of Jubilee’s Ugandan unit


German insurer Allianz SE has completed its acquisition of a 66% stake in Jubilee Insurance Company of Uganda Ltd. from Kenya-based insurer Jubilee Holdings Ltd., Financial Afrik reported. JHL will retain the remaining 34% stake in the Ugandan unit. Jubilee Insurance Company of Uganda’s nonlife insurance operations will be rebranded as Jubilee Allianz General Insurance Company Ltd.

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