The company acquired LAC at US$ 6.5million Kampala, Uganda | JULIUS BUSINGE | South Africa-based financial services firm, Sanlam, has upgraded its market share in Uganda with the acquisition of Lion Assurance Company (LAC) at US$6.5million. This follows approval from the Insurance Regulatory Authority of Uganda (IRA-U) nearly two weeks …
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Kampala, Uganda | JULIUS BUSINGE | On Nov. 21, Sanlam Emerging Markets Proprietary Limited (SEM) announced that its subsidiary, Sanlam General Insurance Uganda Limited (SGIU), had successfully concluded the acquisition of close to a 100% interest in the share capital of Lion Assurance Company Limited (LAC) in Uganda, from Trans Industries …
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Kampala, Uganda | ISAAC KHISA | Stanbic Bank has become the first lender to venture into insurance business after Insurance Regulatory Authority of Uganda granted it a bancassurace license on Oct. 25. The lender said it has already signed business deals with seven insurance companies including Sanlam Life, Sanlam General, UAP …
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Sanlam moves to take-over Lion Assurance: Industry regulator says merger is major boost to local industry Kampala, Uganda | ISAAC KHISA | South Africa-based financial services firm, Sanlam, controls just 2% of Uganda’s insurance business but it has shown its determination to upgrade its market share with the planned …
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Washington, United States | AFP | Florida insurance companies appear to have avoided what could have been a catastrophic hit after damage estimates from Hurricane Irma on Monday fell sharply due to last-minute shifts in the storm’s trail of destruction. The storm spared cities on Florida’s eastern coast, which analysts …
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Survey shows regional institutional investor base expanding due to favourable demographics Africa Renewel | JOHN SCHELLHASE | Capital markets, where money from savers is put into long-term investments, can contribute significantly to socio-economic development if they invest in productive projects and enterprises. But small size and market illiquidity can undercut …
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Arjun Malik is the chief executive officer of the London-based Prudential Assurance Uganda Ltd. He spoke to The Independent’s Ian Katusiime about the country’s insurance industry and the company’s performance so far. Walk us through your management ethos as CEO I don’t believe in micro-managing people. I like making …
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NSSF widens pension coverage with new saving plan Kampala, Uganda | JULIUS BUSINGE | The National Social Security Fund has unveiled a voluntary membership plan that will provide employers and workers that are not compelled by the mandatory provisions of the NSSF Act the opportunity to voluntarily save for their retirement Interested …
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Uganda plans to set up a National Health Insurance Scheme subject to passing of the National Health Insurance Bill 2007. In a speech read by the Vice President Edward Ssekandi at the just ended 44th Africa Insurance Organisation meeting at Speke Resort Munyonyo last week, President Yoweri Museveni said financing the …
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African insurance regulators, CEOs and experts share views at high profile meeting in Dakar, Senegal For years now, digital advances have been transforming a range of industries. The insurance industry especially in Africa has generally been slow to adopt new digital approaches, but times are now changing. This shift is …
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