Sharp Daily
No Result
View All Result
Thursday, September 10, 2026
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

UK Insurance Broker Fails to Halt Sh280 Million Dispute with Jubilee Allianz in Kenyan Court

David Musau by David Musau
July 21, 2023
in News
Reading Time: 2 mins read
Allianz completes final acquisition of majority stake in Jubilee’s general insurance business in East Africa

Allianz completes final acquisition of majority stake in Jubilee’s general insurance business in East Africa. [Photo/ Courtesy]

A UK-based insurance broker’s attempt to halt a Kes 280 million dispute filed by Jubilee Allianz General Insurance (K) has been rejected by High Court judge Alfred Mabeya. The insurance broker, CK Re Limited International Reinsurance Brokers, argued that Kenyan courts lacked the jurisdiction to handle the matter as they were a limited company incorporated in London and had no presence in Kenya.

Read more: Allianz Completes Acquisition Of Majority Stake In Jubilee Insurance East Africa

The broker further contended that the reinsurance contracts were solely between Jubilee and the reinsurers themselves, asserting that their role was that of an intermediary insurance broker. However, Justice Mabeya dismissed the objection and asserted that the High Court did indeed have the authority to hear and decide on the case. He emphasized that the plaintiff had presented a contract before the court, which clearly indicated that Kenyan courts had jurisdiction to resolve any arising disputes.

The court clarified that the broker’s denial of liability under the contracts did not diminish the court’s jurisdiction in determining the case. The court was informed that the UK company acted as a broker, placing risks underwritten by Jubilee with various reinsurance companies. Jubilee would pay the agreed reinsurance premiums to the broker, who would then forward the payments to the reinsurers, and all claims and payments related to the reinsurance slips would be managed through the broker.

RELATEDPOSTS

No Content Available

Read more: Sanlam, Allianz Merge To Form African Insurance Giant

The insurance broker argued that the reinsurance contracts, upon which Jubilee relied, were not binding on them, as they were agreements solely between Jubilee and the reinsurers. In an affidavit filed in court, the firm’s representative, Martin Andrew Wright, maintained that London was the place of performance of the contract, where all services, documentation, payments, and claims settlements took place.

Email your news TIPS to editor@thesharpdaily.com

Previous Post

Kenya Establishes Escrow Account to Mitigate Foreign Exchange Risk in the Fuel Deal

Next Post

CPF Group Pension Funds Show Robust Growth and Performance for Year Ending 2022

David Musau

David Musau

Related Posts

News

Understanding what investors are really paying for (Enterprise value vs. Equity value)

September 7, 2026
Analysis

Kenya holds central bank rate at 8.75%

September 4, 2026
News

The Power of Compound Interest in Building Your Retirement Fund

September 4, 2026
News

Election Cycles and Investments in Kenya: Positioning Ahead of 2027

September 4, 2026
News

A Strong Brand Does Not Always Make a Strong Investment

September 4, 2026
News

When Weak Financial Controls Become an Investment Risk

September 4, 2026

LATEST STORIES

Kenya’s regulator schedules stakeholder meeting on proposed import permit fees

September 10, 2026

Umbrella vs Standalone Pension Scheme: Which Is Better for Your Business?

September 10, 2026

Meta launches Muse, a personal AI agent that acts on users’ behalf

September 9, 2026

StanChart Kenya gives Nakumatt 30 days to settle Sh1.9 Billion debt

September 8, 2026
KRA

KRA now cross checks your tax returns against eTIMS, customs and withholding data

September 7, 2026

Understanding what investors are really paying for (Enterprise value vs. Equity value)

September 7, 2026

Kenya holds central bank rate at 8.75%

September 4, 2026

How financial institution failures affect the wider economy

September 4, 2026
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024