APA Apollo acquires majority stake in Tanzania’s Meticulous Insurance and Metro Life

APA Apollo Group has completed the acquisition of a majority shareholding in Meticulous General Insurance Company Limited and Metro Life Assurance Company Limited in Tanzania.

The transaction, which received all required regulatory and legal approvals, makes the Group the controlling shareholder in both companies and advances its strategy to expand its footprint across East Africa.

Protase Ishengoma, Chairman of Meticulous General Insurance Company Ltd and Metro Life Assurance Company Ltd, described the development as an important new chapter for the two businesses. “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,” he said.

“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.”Ishengoma added that the investment would give customers and partners access to broader expertise, innovative insurance solutions, and the resources of a regional financial services group.

“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,” he said. “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.”

APA Apollo Group, whose heritage dates back to 1977, operates across general insurance, life assurance, micro insurance, pensions and asset management. The Group is supported by international partnerships and shareholders that include Swiss Re and Hollard International.

Risper Ohaga, Group CEO of APA Apollo Group, said the move into Tanzania represents a defining step in the Group’s regional ambitions.

“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,” she said.

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“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.”She added that the Group’s goals extend beyond expansion. “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 aligns with APA Apollo Group’s strategic cycle for 2026–2030, which emphasises sustainable regional growth, customer centricity, digital innovation and strong corporate governance in priority East African markets.

Following the transaction, Meticulous General Insurance and Metro Life Assurance will continue serving their clients while drawing on the Group’s regional underwriting strength, product innovation and technical capabilities.