Kenyan insurer APA Apollo Group has taken majority control of two Tanzanian underwriters, giving it a full foothold in a neighbouring market where it previously held only a minority stake.

The group announced on Monday, October 26, 2026, that it had completed the purchase of controlling stakes in Meticulous General Insurance Company Limited and Metro Life Assurance Company Limited. The first writes general (short-term) business, while the second sells life (long-term) cover. The price was not disclosed.

Approved by Tanzania's competition watchdog

According to the Business Daily, the deal went through after regulators signed off, including Tanzania's Fair Competition Commission (FCC), which reviews mergers and acquisitions in the country. A share purchase agreement dated January 5, 2026, and disclosed by the FCC indicated that APA would take a 66.7 per cent stake in both companies. Neither APA nor the Tanzanian firms has publicly confirmed whether the final shareholding matches that figure.

The transaction was completed through AIL Holdings Tanzania, a non-operating holding company registered in Tanzania and wholly owned by Apollo Investments, the parent of APA Apollo Group, the paper reported.

Until now, APA's presence in Tanzania was limited to a 34 per cent holding in Reliance Insurance Tanzania, a general insurer, which it holds as an associate company. Outside Kenya, its only subsidiary had been APA Uganda General Insurance.

What the companies said

APA Apollo Group chief executive Risper Ohaga described the move as a key step in the group's plan to grow beyond its home market.

"Expanding into Tanzania marks a defining milestone in our regional strategy," Ms Ohaga said, adding that the group could now "deliver insurance solutions that respond to the evolving needs of customers and businesses in Tanzania."

Protase Ishengoma, who chairs both Meticulous General and Metro Life, said the two companies would keep their local knowledge while tapping into APA's regional experience and financial muscle.

"We are pleased to welcome APA Apollo Group as our new majority shareholder," Mr Ishengoma said. "Our priority remains clear: to build on the relationships and trust we have established in the Tanzanian market."

The Star reported that the group plans to combine its own capabilities with local expertise to design products for Tanzanian households and businesses, and that the deal fits within APA's 2026-2030 strategic plan, which prioritises regional expansion, digital innovation, customer service and corporate governance.

Who is APA Apollo?

APA Apollo traces its insurance operations to 1977. Its businesses today cover general insurance, life assurance, microinsurance, pensions and asset management, and its shareholders and partners include global reinsurer Swiss Re and Hollard International.

The group is coming off a strong year. Its net profit rose 43.2 per cent to Sh2.78 billion in the year ended December 2025, helped largely by higher investment income, according to the Business Daily.

Kenyan insurers look across the border

The acquisition adds APA to a growing list of Kenyan insurers with operations elsewhere in East Africa, including ICEA Lion, Britam, Jubilee Holdings, CIC Insurance Group and GA Insurance. State-owned Kenya Reinsurance Corporation has also announced plans to set up a Tanzanian subsidiary as part of its wider African expansion.

Not every Kenyan firm has stayed the course in Tanzania, however. Months before APA's deal, Liberty Kenya Holdings sold its 60 per cent stake in Heritage Insurance, ending a 25-year presence in the country.

Cross-border expansion lets insurers follow their corporate clients into new markets, spread risk and tap into regions where insurance penetration remains low. Tanzania, with a population of more than 60 million and a fast-growing economy, is among the largest untapped markets in the region.

With the life business added, APA will now run both short-term and long-term insurance in Tanzania, mirroring the structure it is building in Uganda.

Photos: The Star (APA Apollo signing); Ali Damji/Wikimedia Commons (Dar es Salaam skyline, CC BY-SA 4.0)