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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; OLEA Uganda Limited (formerly Ballpack Insurance Group Limited) [7]
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.
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]
CIC Insurance Group Limited, commonly referred to as CIC Group, is a Kenyan insurance and investment group that operates mainly in Kenya, Uganda, South Sudan and Malawi. CIC Group has a network of branches and operational subsidiaries spread across the 4 countries.
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Uganda Re is the oldest and among two locally registered Reinsurers in Uganda with Kenya Re. The company was established in 2000. It began commercial operations in 2013. Under current Uganda insurance laws, Uganda Re is guaranteed 15 percent re-insurance business generated within Uganda. [1] [2]
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.