Absa Group продала 63,32% долей в страховых компаниях Кении новому акционеру

Absa Group has officially entered into a sale and purchase agreement to divest its entire 63.32% majority stake in both First Assurance Company Limited (FAC) and Absa Life Assurance Kenya Limited (ALAK). The shares are being acquired by First Assurance Investments Limited (FAI), an existing shareholder in the entities, effectively transferring full ownership of First Assurance Holdings Limited to FAI. This strategic retreat from the Kenyan insurance sector follows Absa’s earlier exit from its insurance manufacturing operations across Botswana, Mozambique, and Zambia in 2025. The completion of the transaction remains subject to customary closing conditions and regulatory approvals from relevant Kenyan authorities. To ensure a seamless transition, Absa and FAI have established a collaborative framework designed to prevent operational disruptions at both FAC and ALAK. As part of the arrangement, existing distribution partnerships with Absa Bank Kenya PLC will remain intact, ensuring that existing customer products, policies, and services are unaffected by the change in ownership. “Further announcements will be made in accordance with regulatory requirements as and when there are any material developments,” noted Daniel Munslow, Managing Executive of Group Communications at Absa Group. The move marks the final chapter in Absa’s broader strategy to streamline its portfolio and realign its primary focus across the African continent.