IRA Approves Sanlam-Jubilee Allianz Merger, Paving Way for Major Shake-Up of Uganda’s Insurance Sector MAJOR SHAKE-UP OF UGANDA’S INSURANCE: The Insurance Regulatory Authority has approved the long-awaited merger between Sanlam General Insurance and Jubilee Allianz, paving the way for one of the most significant consolidations in Uganda’s insurance market. The merger unites industry heavyweights — Ruth Namuli, CEO of Sanlam General Insurance and Paul Kavuma, CEO of Jubilee-Allianz who bring a blend of local insight and global best practices, critical for steering the merged company through Uganda’s competitive insurance terrain.

Uganda’s insurance sector is set for a major shake-up following regulatory approval for the long-anticipated merger between Sanlam General Insurance (Uganda) Limited and Jubilee Allianz General Insurance Company Limited. The Insurance Regulatory Authority of Uganda (IRA) has officially sanctioned the amalgamation, marking a pivotal moment for an industry that has long grappled with fragmentation, low penetration, and limited economies of scale. The landmark merger is part of a broader Africa-wide joint venture between South Africa’s Sanlam Group and Germany’s Allianz SE, announced in September 2023. The strategic alliance spans 27 African countries, with a combined enterprise value nearing US$2 billion…