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Jubilee Insurance, Allianz partnership named EA Deal of the Year 2020

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The strategic partnership between Jubilee Holdings Limited (JHL) and Allianz that JHL announced in September 2020 has emerged as the East Africa Deal of the Year 2020.

In the announcement, DealMakers AFRICA noted that the Ksh 10.8 billion (USD 100 million) transaction is the largest deal announced in East Africa in 2020.

In the proposed partnership structure, Allianz will acquire controlling stakes in the general insurance business (also known as the property and casualty insurance segment) in Kenya, Tanzania and Uganda as well as the short-term insurance segment in Burundi and Mauritius, for total consideration of Ksh 10.8 billion (EUR 84 million, USD 100 million) while JHL will retain a significant minority stake.

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