Allianz acquires Jubilee Holdings’ insurance business in East Africa

German insurer Allianz SE has successfully completed its acquisition of 66% stake in Jubilee Insurance Mauritius Ltd., Hapa Kenya reported. With this, Allianz has closed the previously announced transaction of acquiring a majority stake in Kenya-based insurer Jubilee Holdings Ltd.’s general insurance business in Kenya, Tanzania, Uganda, Burundi and Mauritius.