The APA Apollo Group today announced the successful completion of its acquisition of a majority shareholding in Meticulous General Insurance Company Limited and Metro Life Assurance Company Limited in Tanzania.
The transaction, following receipt of all necessary regulatory and legal approvals, establishes the APA Apollo Group as the controlling shareholder in both Tanzanian entities. 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.
Commenting on the completion of the acquisition, Protase Ishengoma, Chairman Meticulous General Insurance Company Ltd and Metro Life Assurance Company Ltd said: “This is an important new chapter for Meticulous General Insurance and Metro Life Assurance, and one that we believe will create significant value for our customers, brokers and business partners. We are pleased to welcome APA Apollo Group as our new majority shareholder and look forward to combining our strong understanding of the Tanzanian market with the Group’s regional experience, expertise and capabilities.
For our customers and business partners, the investment brings access to broader expertise, innovative insurance solutions and the strength of a regional financial services group with a growing presence across East Africa. It also gives our businesses the opportunity to draw on the knowledge, technology, partnerships and capabilities of the wider Group as we continue to strengthen our general and life insurance offerings.
Our priority remains clear, to build on the relationships and trust we have established in the Tanzanian market, while using this new partnership to enhance the quality, accessibility and range of solutions we provide. We are confident that this partnership will strengthen both businesses, create new opportunities for our customers and partners, and contribute positively to the continued development of Tanzania’s insurance sector.”
With a heritage dating back to 1977, APA Apollo Group brings significant insurance expertise, regional experience and technical capabilities to the Tanzanian market. Its businesses span general insurance, life assurance, micro insurance, pensions and asset management, supported by strong international partnerships and shareholders including Swiss Re and Hollard International.
Risper Ohaga, Group CEO, APA Apollo Group, said: “Expanding into Tanzania marks a defining milestone in our regional strategy and strengthens our long-term commitment to building a leading financial services platform across East Africa. By bringing together the capabilities, experience and local expertise of our businesses, we can deliver insurance solutions that respond to the evolving needs of customers and businesses in Tanzania.
Our ambition goes beyond growth. It is about building partnerships that create lasting value for our customers, our people and the communities we serve. Through a culture grounded in excellence, integrity and innovation, we are building a more resilient, inclusive and forward-looking insurance ecosystem that contributes to the economic and social development of the region.”
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.
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