Jubilee Holdings Limited (NASE:JUB.O) is seeking acquisitions. Jubilee plans to buyout smaller insurance companies to expand its business as competition heats up in the sector. "The aim is to remain number one, particularly in Kenya, where mergers and acquisitions have been happening.

There [have been] about five mergers in the last one year but we managed to remain number one. We are looking for companies to acquire in the country and region because insurance is dynamic," sai dNizar Juma, Jubilee Group Chairman.