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Jubilee Insurance Company of Kenya Limited Form

Jubilee Insurance Company of Kenya Limited Form

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jubilee insurance has sold off a stake of its business to rival allianz kenya for an estimated 10.8 billion kenya shillings the deal which is still subject to regulatory approval will see the listed insurer spin off its general business arm to allianz kenya the new entity the two firms announced at a press conference in nairobi will be referred to as the jubilee allianz general insurance the new firm will take care of general insurance business in kenya tanzania and uganda as well as the short-term insurance segment in burundi and mauritius allianz kenya is part of the global financial services firm allianz we hope to to expand this over time as we see the benefits of working together either into other markets or into other fields no person is going to be made redundant nobody is going to get a salary cut or anything like that this is going to be a very smooth operation it will make jubilee one of the most important insurance companies in africa

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