HOW WE MADE IT: ICEA Life Chairman, James Ndegwa tells how Uganda’s leading insurance and asset management business was built On 11th March 2020, the ICEA Uganda celebrated 20 years since it opened its doors for business in 2000. In his speech, James Ndegwa, shares the 6 secrets behind the conglomerate’s growth into a UGX155 bn insurance and financial services business.

In November 1964, soon after the completion of political independence in East African, three companies, Eagle Star Insurance, the Welfare Insurance, and the New Zealand Insurance Company merged their regional interests to form the Insurance Company of East Africa Limited. In 1974 these overseas companies sold their stake in the company to some East African citizens. The local incorporation of an insurance company back in the early 1960s was a novel concept and at the time most players in the industry were branches or agents of foreign-based insurers. With time we were joined by state-owned players and eventually, legislation obliged…