The acquisition comes as insurers seek to broaden their reach in East Africa, where cross-border expansion offers opportunities to scale The acquisition comes as insurers seek to broaden their reach in East Africa, where cross-border expansion offers opportunities to serve businesses and individuals across multiple markets.
/HANDOUT APA Apollo Group has completed the acquisition of majority stakes in Tanzania’s Meticulous General Insurance Company Limited and Metro Life Assurance Company Limited, marking its entry into the country’s insurance market. The transaction, which received the necessary regulatory and legal approvals, gives the Kenyan insurance group controlling interests in both companies as it seeks to expand its presence across East Africa.
The acquisition adds Tanzania to APA Apollo’s regional operations and broadens its business beyond general insurance, life assurance, microinsurance, pensions and asset management in its existing markets. Protase Ishengoma, chairman of Meticulous General Insurance and Metro Life Assurance, said the companies would retain their understanding of the local market while drawing on APA Apollo’s regional experience and technical capabilities.
“We are pleased to welcome APA Apollo Group as our new majority shareholder and look forward to combining our strong understanding of the Tanzanian market with the Group’s regional experience, expertise and capabilities,” said Ishengoma. He added that the investment could expand the range of insurance products available to customers and strengthen the companies’ general and life insurance businesses.
The acquisition comes as insurers seek to broaden their reach in East Africa, where cross-border expansion offers opportunities to serve businesses and individuals across multiple markets. For APA Apollo, the transaction aligns with its 2026–2030 strategic plan, which prioritises regional expansion, digital innovation, customer-focused services and corporate governance.
Risper Ohaga, group chief executive of APA Apollo Group, said the Tanzanian investment was part of the company’s long-term plan to build a broader financial services business across the region. “Expanding into Tanzania marks a defining milestone in our regional strategy and strengthens our long-term commitment to building a leading financial services platform across East Africa,” said Ohaga.