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Prudential Assurance Uganda Limited (Acquired Goldstar Insurance in June 2015) The Jubilee Life Insurance Company of Uganda; Liberty Life Assurance Company Limited; NIC Life Assurance Company Limited; Sanlam Life Insurance Company Limited [6] UAP Life Assurance Uganda Limited; CIC Africa Life Assurance Limited
Sanlam is a South African financial services group headquartered in Bellville, Western Cape, South Africa. [2] Sanlam is one of the largest insurance company in Africa.It is listed on the Johannesburg Stock Exchange, the Namibian Stock Exchange and the A2X. [4]
One month later the South African Life Assurance Company was established as a full subsidiary of Santam to focus on life assurance while Santam remained focused on short-term insurance. [8] Santam is a subsidiary of South African financial services group Sanlam, which holds 62.3% of Santam’s shares.
In July 2014, IRAU directed every insurer in the country to form separate companies dealing in life business (life policies, annuities, etc.) and general business (liability, automobile, general risk, etc.). The objective was to prevent a downturn in one type of business from spreading risk across the entire industry.
Shriram General Insurance is engaged in commercial and retail vehicle insurance, home insurance and travel insurance. It is a joint venture between Shriram Group and Sanlam. [13] Shriram Capital (formerly Shriram Financial Ventures) is the holding company and promoter of Shriram Group's financial services and insurance businesses. [14]
These were (a) Zep Re (b) Africa Re (c) Kenya Re and (d) Uganda Re. [3] The company undertakes reinsurance business from the African continent and the Indian Ocean Islands. Uganda Re reinsures both life and non-life insurance policies. [4] As of March 2023, Uganda Re's shareholders' capital was reported as US$4,142,000. [5]
MiWay Insurance is the first South African-based direct insurance company to offer the purchase and administration of short-term insurance policies online. [1] MiWay was launched in 2008 as an initiative between Santam , Sanlam and PSG.
CIC Insurance Group is leading Micro and Co-operative insurance provider in Kenya with its subsidiaries involved in fund, Reits and Asset Management, general insurance, medical insurance and life Assurance, pension and annuities. [1] The Group expanded regionally to set its footprint in Uganda, South Sudan and Malawi in 2015. [2]