Inside Musalia Mudavadi-linked firm taking over Absa insurance business

First Assurance Investments has completed its acquisition of Absa Group’s insurance business in Kenya, taking full control of two insurance companies in a transaction that marks the lender’s exit from the country’s insurance market.The acquisition, which gives the investment firm ownership of First Assurance Company and Absa Life Assurance Kenya, was finalised after regulatory approvals and the fulfilment of customary closing conditions.