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…
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