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Pan-African insurance brokerage powerhouse Olea has completed the acquisition and full merger of Marsh Uganda. This marks one of the most significant consolidations in Uganda’s insurance broking sector in recent years. The announcement, formally communicated by Olea on 20 November, brings to a close a five-year collaborative journey between the two firms. It positions Olea among the country’s top five insurance brokers by market share. In its statement, Olea called the merger a milestone that “strengthens our integrated, client-focused network across Africa.” It reinforces its commitment to delivering world-class, locally grounded risk solutions. With operations now spanning more than 25…
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In November 2022, Minet Uganda⏤ a risk, re-insurance and human capital solutions advisory company celebrated its 5th anniversary. The company has however been present for much longer, but under different names, thus the “5 years in Uganda and 75 Years of African Heritage” celebratory theme. Minet started operations in Uganda in 1954 as JH Minet Company. In 1997 Aon, a global provider of risk management, human resource consulting and outsourcing solutions, as part of their African expansion strategy, acquired London Minet and subsequently the Ugandan operation became Aon Minet and later Aon Uganda. In 2017 private equity firm, Capitalworks acquired…
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The Insurance Regulatory Authority (IRA) has just released its Q3 2023 performance report for among others, insurance brokers, showing that Clarkson Insurance Brokers (U) Ltd is yet again ahead of traditional rivals. Clarkson remained a leader, both in premiums collected as well as commissions earned in the 51-company brokerage industry. Q3 2023 figures are a cumulative total of the business placed in the first 9 months of 2023. According to the results, Clarkson, placed UGX83.3 billion, out of which UGX73.1 billion was realised, earning a cumulative total commission of UGX 11.3 billion, translating into 21.12% market share. The Insurance…
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Thirty six (36) insurance brokerage firms, collected an estimated UGX280 billion in premiums compared to UGX233.3bn in 2017, according to preliminary reports from the Insurance Regulatory Authority (IRA). According to…
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