SanlamAllianz Life Insurance Uganda has named Alexander Mukasa as its new Chief Executive Officer, effective December 2025, marking a significant leadership transition at one of the country’s most dynamic life insurance providers.
Mukasa replaces long-serving insurance executive Gary V Corbit, who has proceeded into retirement after a distinguished multi-decade career spanning Uganda, Kenya, Zambia and the wider African insurance market.
His arrival at SanlamAllianz coincides with major structural shifts within Uganda’s insurance sector, most notably the acquisition and merger of Marsh Uganda by Olea, a Pan-African insurance brokerage group.
Until his appointment at SanlamAllianz, Mukasa served as Managing Director of Marsh Uganda, a position he held for more than eight years.
His departure comes in the wake of Olea’s consolidation of Marsh’s operations, a move that has reconfigured the competitive landscape of insurance broking in Uganda.
A leadership change accelerated by industry consolidation
On 20 November 2025, Olea formally announced the completion of its acquisition of Marsh Uganda, concluding a five-year collaborative journey between the two entities.
The merger instantly elevated Olea into the top five insurance brokers in Uganda, combining Marsh’s 5.31% market share with Olea’s 1.08% to create a new 6.4% powerhouse.
With the merged entity repositioning under new leadership, Fiona Magezi replacing Paul Muhame as Managing Director of Olea Uganda, Mukasa, who had been central to Marsh Uganda’s corporate and technical transformation, opted to pursue a new executive path.
Who Is Alexander Mukasa?
Mukasa brings to SanlamAllianz more than 15 years of experience across insurance broking, underwriting, and executive management.
Stanbic, Absa and Centenary Control Nearly Half of Uganda’s Bancassurance Market as Premiums Top UGX 302 BillionAt Marsh McLennan, he rose from Head of Business Development to Acting Managing Director, and finally to substantive Managing Director in 2017.
Over the years, he strengthened Marsh’s advisory capacity, expanded technical support to corporate clients, and built strategic relationships with insurers, regulators, and regional partners.
Before Marsh, Mukasa served as a Senior Underwriter for Liabilities and Financial Lines at AIG, where he developed deep technical grounding in complex risk classes, expertise that now aligns seamlessly with SanlamAllianz’s growth ambitions in life insurance and financial protection products.
His academic and professional background includes an MBA from Edinburgh Business School at Heriot-Watt University, a Bachelor of Science in Actuarial Science from Makerere University, and a Postgraduate Diploma in Project Planning and Management from Uganda Management Institute.
He has also undertaken professional training through the Chartered Insurance Institute in the United Kingdom.
Mukasa is widely regarded as a strategic thinker, a team builder, and a client-centric executive capable of steering organisations through cycles of transition, integration, and market expansion.
A Tough Market Awaits the New CEO
Mukasa takes over from Gary V. Corbit, one of the most consequential leaders in Uganda’s modern insurance history.
Mukasa’s work at SanlamAllianz Life Insurance is well cut out. He steps into the role at a time when the company holds just about 9.7% of Uganda’s life insurance market (IRA Industry Report for Q3 2025)—placing it fifth in a segment overwhelmingly dominated by Prudential Life at 28.5%, ICEA Lion Life at 22.1%, and Jubilee and Old Mutual Life in the mid-teens. This means his first and most urgent task is scale: expanding the company’s share of a market where the top two players alone control more than half of all premiums. To shift SanlamAllianz Life from a mid-tier player into a serious contender, Mukasa must grow premium income, strengthen the company’s product suite, and build a stronger distribution footprint across both retail and corporate segments.
He also inherits the strategic complexity of aligning the life business with the broader ambitions of the newly consolidated SanlamAllianz group. While SanlamAllianz General has surged to become Uganda’s second-largest non-life insurer—thanks to the recently completed merger with Jubilee Allianz—the life arm still has to compete against heavyweight brands such as Prudential, Old Mutual Life, and ICEA Lion Life, all of which are well-anchored with strong legacy portfolios. Mukasa therefore faces the dual challenge of leveraging group strength while crafting a distinct growth path and leveraging SanlamAllianz’s continental and global expertise. His stewardship will determine whether SanlamAllianz Life can unlock the same momentum that is already reshaping the group’s general insurance performance.
