Jubilee holdings is becoming more of an investment company than insurance.
In their HY results of 2019,they had invested sh.60bn in government securities

With all the paid premiums that remain unclaimed, what options do they have really. A solid company

Jubilee holdings has entered into a set of binding transactions with Allianz Africa Holdings which will result in Allianz acquiring majority equity stakes ranging from 51% to 66% in Jubilee holdings short-term general insurance business in each of Kenya, Uganda, Tanzania, Burundi and Mauritius for a consideration of ksh.7.75bn

Jubilee plans to reinvest the cash generated from the deal in its portfolio of privately held companies.
Mr Juma said other decisions such as including whether or not the company will pay a special dividend will be made at a later date.

https://www.businessdail...-german-company-2452686

There are 49 insurance companies in Kenya.
Too many for an economy the size of Kenya

https://pbs.twimg.com/me...rmat=jpg&name=large


A.That subject to all statutory and regulatory approvals being obtained,the sale by the company and/or its wholly owned investment subsidiaries of the following shares in the below listed target companies to Allianz Africa Holdings GmbH be approved;
(i)66% shareholding of Jubilee General Insurance Limited in Kenya
(ii)51% shareholding of the Jubilee Insurance Company of Burundi
(iii)31% shareholding of the Jubilee Insurance Company of Uganda
(iv)54.15% shareholding of Jubilee Insurance Mauritius Limited
AND FURTHER,the Shareholders approve that following the sale of the aforesaid shares in the Target Companies,the Target Companies shall no longer be subsidiaries of the company.

B.That the incorporation of a new subsidiary in Tanzania in preparation for the separation of the short-term general insurance business ("P&C business") of the Jubilee Insurance Company of Tanzania Limited (JICT) to be transferred to the new subsidiary leaving JICT as a medical insurer only be ratified,and the sale thereafter of 36% shareholding in the new subsidary to Allianz on the understanding that the new subsidiary will no longer be a subsidiary of the company following completion of sale be approved.

C.That the incorporation of a new subsidiary in Uganda in preparation for the separation of the health insurance business currently operated by The Jubilee Insurance Company of Uganda Limited (JU) to be transferred to the new subsidiary leaving JU to operate P&C business only,be ratified.

Weeh
This is a fire sale.

Nonsense. They got a great deal/multiple. Read the IM.

How should we measure it?
I would like to come back to it.

Good for solid firms like Jubilee.

https://www.businessdail...id-rising-losses-3246202