APA Apollo Group announced on Monday, October 26, that it has completed the acquisition of majority stakes in Tanzania’s Meticulous General Insurance Company Limited and Metro Life Assurance Company Limited, giving the Kenyan insurer control of both companies and a bigger foothold in East Africa.
The completion follows regulatory and legal approvals. Group Chief Executive Risper Ohaga said expanding into Tanzania marks a defining milestone in the group’s regional strategy and strengthens its commitment to building a leading financial services platform across East Africa. She said the move will give customers and businesses in Tanzania access to more innovative insurance products, supported by the group’s regional expertise, technology and insurance capabilities, and will support its long-term growth plans.
The two companies will continue serving their customers while benefiting from APA Apollo’s resources. Protase Ishengoma, chairman of both Meticulous General and Metro Life, described the deal as a new chapter that should create significant value for customers, brokers and business partners.
The deals had been in the pipeline since the start of the year. A notice from Tanzania’s Fair Competition Commission showed that APA Apollo would acquire a 66.7 percent stake in Metro Life under a share purchase agreement signed on January 5, 2026, through AIL Holdings Tanzania, a wholly owned subsidiary of Apollo Investments, the group’s holding company. The size of the Meticulous General stake and the value of the transactions were not disclosed.
For APA Apollo, the acquisition adds both short-term and long-term underwriting businesses in Tanzania. The group already owned a 34 percent stake in Reliance Insurance Tanzania, a general insurer, and operates in Kenya and Uganda through APA Insurance, alongside APA Life Assurance, APA Microinsurance, Apollo Asset Management and the property management arm Gordon Court. Its shareholders include global reinsurer Swiss Re and South Africa’s Hollard Group.
The transaction is one of the first big moves under Ms Ohaga, who took over as Group CEO on July 1, 2026, after serving as chief financial officer of East African Breweries. She succeeded Ashok Shah, who had led the group for 14 years.
