Sanlam Kenya Plc has called an extraordinary general meeting (EGM) for 9 October 2025 to seek shareholder approval to change its name to Sanlam Allianz Holdings (Kenya) Plc.
The proposed rebrand follows Jubilee Holdings’ exit from general insurance after it sold its remaining 34% stakes in Jubilee Allianz subsidiaries in Kenya, Uganda, and Mauritius, along with 19% in Burundi and 15% in Tanzania, to SanlamAllianz Africa.Allianz entered the region in 2020 by buying 51–66% stakes in Jubilee’s general insurance units for KSh 10.8 billion, giving Jubilee KSh 7.75 billion in cash.The phased acquisitions closed between 2021 and 2022, after which each business rebranded under the Jubilee Allianz name.
In 2022, Allianz formed a pan-African joint venture with Sanlam, launching SanlamAllianz in September 2023 with a group equity value of R35 billion ($2 billion) split 60% to Sanlam and 40% to Allianz.
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Sanlam Kenya’s New Structure
Sanlam Kenya had earlier transferred its general insurance portfolio—assets of KSh 2.78 billion—to Jubilee Allianz Kenya as part of the consolidation.
A KSh 2.5 billion rights issue in 2025 raised SanlamAllianz and Hubris Holdings’ combined stake in Sanlam Kenya to 71.5%, with CMA granting an exemption from takeover rules.
With general insurance carved out, Sanlam Kenya will remain focused on life insurance, pensions, and investments, while the joint venture runs the general insurance business across East Africa.