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The African subsidiary of the global insurer and asset manager Allianz plans to buy an eight per cent stake in Kenya’s Jubilee Holding Plc (JHL

The offer, subject to regulatory approvals, will see the Germany based firm acquire a controlling stake of between 51 and 66 per cent in Jubilee’s General Insurance business Kenya, Tanzania, Uganda, Burundi and Mauritius, forming Jubilee-Allianz General Insurance Limited.

JHL will retain ownership of its Life and Pensions operations and its Medical insurance business in Kenya, Uganda and Tanzania.

This landmark activity is in-line with the global month-long project Pinktober

National Bank of Pakistan Aitemaad Islamic Banking Group signed the 'Bancatakaful' agreement with Jubilee Life Insurance Window Takaful Operations which is the largest life insurance company in the private sector of Pakistan. The agreement was signed in a ceremony held at NBP's Head Office to commemorate the partnership in the wake of the expanding market for Bancatakaful products.