APA Apollo Group announced that it has secured majority ownership of Meticulous General Insurance Company Limited and Metro Life Assurance Company Limited in Tanzania.

The acquisition was completed on Monday after receiving all required regulatory and legal clearances, including approval from Tanzania’s Fair Competition Commission.

A share purchase agreement dated January 5, 2026, filed with the FCC, shows that APA will hold a 66.7 per cent interest in each of the two firms.

The financial terms of the transaction were not disclosed.

APA executed the purchase through AIL Holdings Tanzania, a non-operating holding company incorporated in Tanzania and wholly owned by Apollo Investments, the holding company of APA Apollo Group.

The deal expands APA’s footprint in both short-term and long-term insurance lines within Tanzania.

Prior to the transaction, APA owned a 34 per cent stake in Reliance Insurance Tanzania, a general insurer.

APA also operates APA Uganda General Insurance, giving it an existing presence in Uganda.

By adding a controlling interest in a life insurer, APA will now have both short-term and long-term insurance capabilities in Uganda as well.

Group chief executive Risper Ohaga said that expanding into Tanzania represents a defining milestone in the group’s regional strategy and reinforces its long-term commitment to building a leading financial services platform across East Africa.

Ohaga added that combining the capabilities, experience and local expertise of the businesses will enable the group to deliver insurance solutions that meet the evolving needs of Tanzanian customers and businesses.

Chairman Protase Ishengoma welcomed APA Apollo Group as the new majority shareholder and said the partnership will merge the companies’ strong understanding of the Tanzanian market with the group’s regional experience, expertise and capabilities.

Ishengoma also stated that the priority remains to build on existing relationships and trust while using the partnership to improve the quality, accessibility and range of insurance solutions.

APA’s acquisition aligns with its 2026–2030 strategic plan, which prioritises regional expansion, digital innovation, customer-focused services and corporate governance.

For the year ended December 2025, APA reported a 43.2 per cent increase in net profit, reaching KSh2.78 billion.

The move follows a broader trend of Kenyan insurers expanding beyond Kenya, with groups such as ICEA Lion, Britam, Jubilee Holdings, CIC Insurance Group and GA Insurance already operating subsidiaries in other East African markets.

Kenya Reinsurance Corporation has also announced plans to establish a subsidiary in Tanzania as part of its continental growth strategy.

Earlier this year, Liberty Kenya Holdings divested its 60 per cent stake in Heritage Insurance, ending a 25-year presence in the Tanzanian market.