This archive report was first published on 13 January 2020.
January 13, 2020, marked a significant development in the insurance sector as Mauritius Union Assurance (MUA) announced plans to acquire 100% ownership in Saham Assurance of Kenya.
The acquisition will be carried out through MUA's Kenyan subsidiary, MUA Insurance (Kenya) Limited.
According to a public notice, the proposed transaction is subject to certain conditions, including receipt of relevant third-party and regulatory approvals.
MUA Insurance, a leading insurance company in Mauritius, has a presence in several East African countries, including Seychelles, Kenya, Tanzania, Uganda, and Rwanda.
On the other hand, Saham Assurance of Kenya is a subsidiary of the Morocco-based Saham Group, which acquired Mercantile Insurance in 2013.
