East African financial services and insurance group, APA Apollo Group, has announced the successful completion of its acquisition of a majority shareholding in Meticulous General Insurance Company and Metro Life Assurance Company in Tanzania. APA Apollo acquired a 66.7% stake in each business.
“This acquisition marks a significant milestone in the Group’s long-term strategy to expand its operational footprint across East Africa, building a robust, well-governed, and diversified financial services ecosystem across the region,” Kenya-headquartered APA Apollo said in a statement.
The acquisition directly aligns with APA Apollo Group’s strategic cycle for 2026–2030, which prioritises sustainable regional growth, customer centricity, digital innovation, and strong corporate governance across priority East African markets.
Following the transaction, both Meticulous General Insurance and Metro Life Assurance will continue serving their clients seamlessly while leveraging APA Apollo Group’s regional underwriting strength, product innovation, and technical capabilities.
The acquisitions build on APA’s existing 34% stake in Reliance Insurance Tanzania, a general insurer. In Uganda, the group owns APA Uganda General Insurance, giving it an established presence in the general insurance market there.