SanlamAllianz Africa has finalized its acquisition of full control over the Jubilee Allianz general insurance operations across East Africa, following Jubilee Holdings' sale of its remaining stakes. This move concludes a five-year process enabling Jubilee to exit the general insurance market entirely and focus on life, health, and pensions.

• The deal transferred Jubilee Holdings' remaining 34% holdings in Kenya, Uganda, and Mauritius, along with 19% in Burundi and 15% in Tanzania.
• The initial agreement in September 2020 involved Jubilee selling controlling stakes to Allianz SE for KSh 10.8 billion.
• The SanlamAllianz joint venture, launched in September 2023 with a group equity value of R35 billion ($2 billion), now consolidates its presence across 27 markets.