The shareholders ratified the decision by the board to acquire 14.85 million shares in Real Insurance in a share purchase agreement that will see Britam take over the management and assets of the company.
Britam has already a strong presence in Kenya, and also has operations in Uganda, Rwanda and South Sudan where Real Insurance has subsidiaries in Tanzania, Malawi and Mozambique.
Last year the company bought a 25 percent stake in Acorn Group, a property development and management consultancy firm, as it seek to position itself in the property market.