NCBA

NCBA Group Takes Over AIG Kenya in Major Acquisition

Breaking News: NCBA Group acquires AIG Kenya, solidifying its position in Kenya's financial industry.

In a significant development in Kenya's financial sector, NCBA Group has made a game-changing acquisition by taking over insurer AIG Kenya. The undisclosed amount deal saw NCBA finalizing a 66.67% buyout to secure full control of AIG Kenya, a move that has been in the works for years. This strategic acquisition not only enhances NCBA's portfolio but also marks a milestone in the company's growth strategy.

Having held a minority share in AIG Kenya for over 18 years, NCBA's acquisition of the remaining stake now places the over 50-year-old insurance business firmly under its wings. This bold move by NCBA solidifies its position as a key player in the insurance and financial services market in Kenya, signaling a new era of growth and innovation for both companies.

The completion of the 100% stake acquisition in AIG Kenya cements NCBA Group's commitment to expansion and diversification within the financial sector. With full ownership of AIG Kenya, NCBA is poised to leverage its resources and expertise to provide enhanced insurance services to customers while building a stronger foothold in the industry.

NCBA's announcement of the acquisition reflects a strategic decision to strengthen its presence in the financial services landscape. By taking over AIG Kenya, NCBA aims to capitalize on the synergies between the two entities and drive forward-thinking solutions for its clients, setting a new standard of excellence in the market.

Interesting Fact: NCBA's acquisition of AIG Kenya marks one of the largest buyout deals in the Kenyan financial industry. This move positions NCBA as a major player in both banking and insurance sectors, showcasing its ambitious growth trajectory.