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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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Regional insurer Old Mutual Holdings Plc is preparing to divest its flagship Nakawa Business Park in Uganda as part of a sweeping exit from the East African real estate market….
In a rare case of an efficiently managed public institution in Uganda, the Insurance Training College (ITC) emerges as an island of financial discipline in a sea of inefficient state enterprises. In his report for the 12 months ended June 2024, Auditor General Edward Akol delivers glowing praise: the College’s books are clean, its statements comply with International Financial Reporting Standards (IFRS), and its liquidity is not just adequate – it’s exemplary. But behind the commendation lies a quiet dysfunction: an execution gap that threatens to erode the very mandate the College was created to uphold. Clean accounts are no…
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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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Over 5,000 runners took part in the Absa KH3-7 Hills Run marathon that took place on Sunday 17 March 2024. The annual marathon challenges runners to traverse the length of the proverbial 7 hills that make up Kampala City. Proceeds from the run dubbed “Run Her Race” and organised by Absa Bank Uganda and Kampala Hash House Harriers (KH3) will go towards initiatives that focus on returning girls who have dropped out of school prematurely, to school as well as providing urgent menstrual hygiene support to impoverished schoolgirls who often drop out of school due to prohibitive costs of sanitary…
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UAP Old Mutual has celebrated the legacy of retiring shareholder and board chairman Sir Gordon Wavamunno during a dinner hosted at the Kampala Serena Hotel. Sir Gordon Wavamunno served for more than 4 decades as Chairman of the Board of Directors. UAP Old Mutual is the leading general and medical insurance company in Uganda and is an integrated financial services provider with Asset Management and Life Assurance arms. Speaking about the company’s “deep admiration for Sir Gordon Wavamunno’s entrepreneurial spirit and visionary leadership”, Stephen Chikovore, UAP Old Mutual Managing Director, said he has been “instrumental in driving UAP Old Mutual…
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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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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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