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Old Mutual Insurance Uganda, Uganda’s No.1 general insurer, has announced that its Managing Director and Chief Executive Officer, Stephen Chikovore, will step down from his role effective 31 January 2026. His exit comes at a critical inflection point for Uganda’s general insurance market, just as Sanlam General Insurance and Jubilee Allianz General Insurance have completed their merger, creating SanlamAllianz General Insurance—a significantly stronger and well-capitalised number-two competitor in the market. The leadership transition was formally communicated in a public notice shared with CEO East Africa Magazine, in which the company stated: “Old Mutual Insurance Uganda announces a leadership transition of…
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The green flame of Old Mutual is set to burn bright in Uganda. After nearly a decade of operating under the green and red hybrid identity of UAP Old Mutual, the financial giant has now officially rebranded to Old Mutual Uganda, unifying its identity with the rest of the group’s East African operations — Kenya and Rwanda — which completed their transitions earlier. But as the brand sheds its dual heritage, the move comes at a pivotal moment — one defined by both renewed ambition and intensifying competition in Uganda’s insurance and investment landscape. A Strategic Evolution, Not Just a…
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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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Hardly two years after arriving in Uganda to take up her very first CEO role at Uganda’s largest telco, MTN Uganda, Sylvia Mulinge has emerged as Uganda’s most admired CEO, in the CEO East Africa Magazine’s inaugural 100 Leading & Most Admired CEOs In Uganda Survey. The 2-in-1 CEO East Africa Magazine’s Most Trusted and Respected Companies & The Most Admired CEOs in Uganda Survey 2024 is part of the magazine’s thought leadership agenda that seeks to create a body of knowledge on what exactly great companies and great leaders are made of, as well as recognise them. “This, we…
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UAP Old Mutual Insurance Uganda Limited is currently working closely and cooperating with The Insurance Regulatory Authority of Uganda (IRA) to resolve its licence status to underwrite performance bonds, the company has said. According to a statement released by the company’s Managing Director, Stephen Chikovore, UAP has been licenced under the relevant insurance laws to underwrite performance bonds amongst other insurance lines of business since 1971 and has adhered to all local laws and regulations governing the insurance industry as stipulated by the government and IRA and will continue to do so. This came after the Insurance Authority issued a…
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In layman terms, what does UAP Financial (U) Limited do? What kind of services do you offer and what kind of clients do you target? What kind of problems do you solve for your clients? UAP Old Mutual Financial Services (U) Limited is an investment advisor. We spend a lot of time thinking, reflecting, and executing on our clients’ investment goals. Our overriding principle is focused on enabling our different stakeholders to meet their lifetime financial objectives. We interact with different market segments, broadly split between retail individuals and corporate entities. What makes UAP Old Mutual Financial Services (U) Limited…
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This 2020 marks 175 years of Old Mutual in Africa, 100 years of UAP Old Mutual in East Africa, and almost 50 years in Uganda. What would you say are some of the key milestones for the business, especially for Uganda? First of all, I would like to say, UAP Old Mutual Insurance (U) Limited is one of the oldest household names in Uganda’s insurance industry; since the early ’70s, being popularly known as United Assurance and on June 29th, 2021, we will be hitting the 50 years milestone. We are not only one of the oldest insurance companies in…
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Harrison Gongo Managing Director UAP Old Mutual Life Assurance (U) Limited Harrison is a distinguished insurance professional who has spent his entire work life in the insurance industry in East Africa. For the last 16 years, he has built a career that in his words is built on “proven success at an operational and senior management level.” He says he is “highly skilled in streamlining operations and improving output through continuous process improvement and cross-functional collaboration” as well as “building high-performing teams and inspiring staff to achieve personal and professional goals.” The University of Nairobi Bachelor’s of Commerce (Insurance And…
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Everyone always says, “Follow your dreams!” This is because, without dreams, we are nothing; life is depressing, there is no reason to wake up each day. Fulfilled dreams are often associated with good health, wealth, friends and happiness. Following your dreams and eventually living the life you’ve always wanted is however not as easy as it sounds, because life is full of its own ups and downs. There will always be the uncertainties of life, which if not well managed, can throw one’s dreams off course. And this is particularly why you need a trusted partner to support you along…
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UAP Old Mutual Group Uganda has today handed over to the National COVID-19 Taskforce a contribution of 100 hospital beds worth UGX100 million. This is over and above an earlier donation of UGX10 million made towards COVID-19 relief efforts in the country, The beds will be distributed to the various regional referral hospitals to help in the improvement of healthcare during and after COVID-19 crisis. The contribution was presented by representatives of the Board and management of UAP Old Mutual Group Uganda to Hon. Mary Karooro Okurut, the National COVID-19 Taskforce chairperson. Handing over the donation, the managing Director of…
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