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Ruth Namuli, previously the Chief Executive Officer of Sanlam General Insurance, has emerged as the Chief Executive Officer of SanlamAllianz Uganda General Insurance, the newly merged entity of Sanlam General and Jubilee Allianz General, CEO East Africa Magazine has exclusively learnt. Her appointment has already been announced to internal staff and key clients, according to our sources. The official public announcement, however, will only be made once the new name has been gazetted and approved by the Uganda Registration Services Bureau (URSB). The Insurance Regulatory Authority (IRA) has already approved the rebrand to SanlamAllianz General Insurance Ltd and granted the…
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Uganda’s insurance sector is set for a major shake-up following regulatory approval for the long-anticipated merger between Sanlam General Insurance (Uganda) Limited and Jubilee Allianz General Insurance Company Limited. The Insurance Regulatory Authority of Uganda (IRA) has officially sanctioned the amalgamation, marking a pivotal moment for an industry that has long grappled with fragmentation, low penetration, and limited economies of scale. The landmark merger is part of a broader Africa-wide joint venture between South Africa’s Sanlam Group and Germany’s Allianz SE, announced in September 2023. The strategic alliance spans 27 African countries, with a combined enterprise value nearing US$2 billion…
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Uganda’s insurance sector has for long been viewed as a male-dominated sector, however, the last decade has seen more women rise into leadership ranks. On this Women’s Day, the CEO Magazine profiles some of the exceptional female leaders making meaningful contributions and major career accomplishments. Sophie Nkuutu | UAP Old Mutual Life Assurance chairperson Mrs Nkuutu chairs the board of one of most profitable insurance companies in the life category in Uganda. UAP Old Mutual is the second largest insurance company in the life category with a market share of 17.9%. She has over 25 years of experience in…
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The insurance sector has continued to be pivotal in the financial sector. However, it is largely dominated by a few companies with the largest share of premiums written by just 10 companies for both non-life and life insurance. Under non-life, at least 58.9% of premiums are generated by five companies, while another five generate more than 88.5% of life premiums, according to data from the Insurance Regulatory Authority (IRA). IRA Market Performance Report for the three months to December 2024 indicates that the insurance sector has about 31 companies, of which 20 are non-life, while eight and three are life…
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The year 2022 was a great year for the Ugandan Executive. More than 10 Ugandans rose to become Chief Executives of some of Uganda’s largest and most influential companies, as well as at the multinational level. Anthony Kituuka, who was in November 2022 appointed by Equity Bank Uganda Managing Director job, was in December 2022 approved by the Bank of Uganda to take on the job. A little before that, Mark Muyobo was also given the green light by the Central Bank to take on Managing Director/CEO job at NCBA Bank Uganda. In January 2022, Richard Yego was tapped…
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The Board of Directors, of Sanlam General Insurance, has elevated Ruth Namuli, to become the insurer’s Chief Executive for Uganda. The appointment took effect in June 2022. Ruth, who has spent 7 years with Sanlam, has previously been the company’s General Manager, since February 2016. She replaces Gary V. Corbit who has been appointed the Chief Officer of Sanlam Life Insurance Uganda- a sister company. Sanlam General Insurance is part of Sanlam, a diversified financial services company headquartered in South Africa, with a strong presence in more than 30 countries on the African continent, India, Malaysia and various other developed…
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