UAP acquires a stake in a Tanzanian insurer

UAP Group acquired a 60% stake in the Tanzanian insurer Century Insurance Company. This first acquisition in Tanzania, which was conducted through one of its subsidiary, UAP Africa, is part of the group’s expansion strategy in Africa. UAP is looking for acquisition opportunities in markets where growth forecasts project significant margins. Century Insurance will be renamed UAP Century Insurance Company, marketing non-life insurance policies.