Sanlam General Insurance Limited and Jubilee Allianz General Insurance (K) Limited have formally applied for regulatory approval to merge their general insurance businesses.
The planned amalgamation, announced through a public notice dated August 1, 2025, is subject to clearance from the Insurance Regulatory Authority (IRA) under Sections 114 and 118 of the Insurance Act (Cap 487).
According to the notice, Sanlam is designated as the vendor, while Jubilee Allianz assumes the role of purchaser.
The proposed transaction, scheduled to take effect on December 31, 2025, entails the transfer of all general insurance assets, liabilities, and obligations from Sanlam to Jubilee Allianz.
“The transfer will consolidate all insurance policies issued by Sanlam into the general insurance business of Jubilee Allianz,” the notice stated, describing the move as a Portfolio Transfer and amalgamation.
Strategic Rationale and Industry Context
If approved, this merger would bring together two of Kenya’s notable insurance providers, signalling a deeper shift toward sector consolidation amidst rising operational pressures and evolving regulatory demands.
“The combination will result in a stronger entity with enhanced economies of scale, improved service delivery, and a more resilient balance sheet,” the joint statement noted.
Kenya’s insurance sector has long faced calls for consolidation to strengthen capital adequacy, improve underwriting efficiency, and reduce duplication across product portfolios. The merger aligns with broader market trends targeting leaner operations and heightened customer experience.
Branch Network & Operational Continuity
Sanlam currently operates branches in Nairobi, Thika, Nakuru, and Mombasa, while Jubilee Allianz maintains a footprint in Kisumu and Nairobi. The combined entity is expected to preserve its nationwide network, minimising disruption for existing policyholders and clients.
Regulatory Filings and Stakeholder Engagement
In compliance with the Insurance Act, the parties have submitted a detailed portfolio transfer proposal, which includes:
- A statement outlining the proposed transfer
- A draft business transfer agreement
These documents are available for inspection at the insurers’ offices, the legal adviser Anjarwalla & Khanna LLP (Westlands, Nairobi), and the IRA’s website: www.ira.go.ke.
Stakeholders have until August 31, 2025, to file objections, should they believe they may be adversely affected.
“Copies of the Portfolio Transfer details and agreement will remain accessible for no fewer than thirty (30) days from publication,” the notice affirms.
Data Protection Assurance
Both companies have emphasised full compliance with the Data Protection Act (Cap 411C, Laws of Kenya).
