APA Apollo Group has completed the purchase of majority stakes in two Tanzanian insurers, Meticulous General Insurance Company and Metro Life Assurance Company.
The group, which is headquartered in Nairobi, announced the deal on Monday 26 October. It said the transaction had received all regulatory and legal approvals, which gives it control of both companies.
What APA Apollo bought
The deal gives APA Apollo a general insurer and a life insurer in Tanzania. The group bought 66.7% of each company through AIL Holdings Tanzania, a wholly owned subsidiary of Apollo Investments.
| Item | Detail |
|---|---|
| Buyer | APA Apollo Group, through AIL Holdings Tanzania |
| Targets | Meticulous General Insurance and Metro Life Assurance |
| Stake | 66.7% in each, according to media reports |
| Price | Not disclosed |
| Announced | Monday 26 October 2026 |
| Existing Tanzanian holding | 34% of Reliance Insurance Tanzania |
This is not APA Apollo’s first step outside Kenya. The group already runs APA Uganda General Insurance and holds 34% of Reliance Insurance Tanzania. Business Daily reported on 2 March that it had told Tanzania’s Fair Competition Commission of its plan to buy two insurers. APA Apollo reported a 43.2% rise in net profit to KSh2.78 billion for the year to December 2025.
What the executives said
Group Chief Executive Risper Ohaga tied the deal to the group’s strategy for 2026 to 2030.
“Expanding into Tanzania marks a defining milestone in our regional strategy,” she said. Ohaga took over as group chief executive in July from Ashok Shah, after leaving East African Breweries PLC, where she was chief financial officer, as Khusoko reported. She said the group would pair its regional capabilities with local expertise to design products for Tanzanian customers and businesses.
Protase Ishengoma, chairman of both Tanzanian companies, said the deal gives them access to APA Apollo’s regional experience, technology and technical expertise. He said the companies would “build on the relationships and trust we have established in the Tanzanian market.” He added that the investment would widen their product range and improve service for customers and business partners.
Both companies will keep serving their existing customers. They will draw on APA Apollo’s underwriting capacity and product development skills.
The Tanzanian market APA Apollo has entered
The Tanzania Insurance Regulatory Authority (TIRA) launched its Annual Insurance Market Performance Report 2025 in Dodoma on 16 October. It shows a market that grew fast last year, mostly because of health cover.
| Measure | 2025 figure | Change on 2024 |
|---|---|---|
| Total premiums | TZS 2.55 trillion | Up 68.4% |
| General insurance | TZS 1.145 trillion | Up 19.6% |
| Life insurance | TZS 358.8 billion | Up 16.1% |
| Health insurance | TZS 986.6 billion | Up 426.2% |
| Premiums as a share of GDP | 2.11% | Up from 2.08% |
Health premiums rose after contributions to the National Health Insurance Fund (NHIF) were counted under the Universal Health Insurance Act. Health insurance now makes up 38.6% of the market, up from 12.4%. The market has 26 general insurers and seven life insurers.
Deputy Finance Minister Mshamu Ali Munde told TIRA to take insurance education to farmers, fishers, small traders, youth, women and rural residents. He wants insurance to become “part of every Tanzanian’s daily life.” The report gives no premium figures for Meticulous or Metro Life, and neither does the announcement.
Kenyan insurers look beyond the home market
APA Apollo joins other Kenyan insurers that operate outside Kenya, including ICEA Lion, Britam, Jubilee Holdings, CIC Insurance Group and GA Insurance, according to Tech Trends Kenya.
Khusoko reported on 5 October that Kenya’s Competition Authority cleared First Chartered Securities to take over ICEA Lion, which operates in Kenya, Uganda and Tanzania. In August, Khusoko covered Prudential’s exit from ICEA Lion.
