Liberty Insurance to help create wealth

Aug 12, 2008

LIBERTY Life Insurance is to offer a comprehensive range of financial products and services to support individuals and companies in the building and protection of long-term wealth.

By Vision Reporter

LIBERTY Life Insurance is to offer a comprehensive range of financial products and services to support individuals and companies in the building and protection of long-term wealth.

“Our business interests encompass long and short-term insurance, asset management, health, corporate benefits, property management and development. The group’s objective is to become a market-leading wealth management company in Africa,” Bernard Katompa, the chief executive officer of Liberty Africa, said during a presentation at the launch of the company at the Kampala Serena Hotel.

Joseph Almeida, the Liberty Life Insurance Uganda general manager, said: “With the presence of the company in Uganda, we are focussing on risk products and savings by working with Stanbic Bank. Also, we shall help companies increase employee benefit products to motivate and improve their welfare to enhance productivity. ”

“Life insurance premiums on the Uganda market are still growing. Our presence will grow it but the challenge will be raising public awareness about its benefits,” said Peter Botha, the company’s Uganda chief executive officer.

Daniel Nsibambi, Stanbic’s spokesman, said Liberty and Stanbic were both service-providers under Standard Bank, the parent company in South Africa.

He said the company’s new products are life insurance, funeral policies, disability benefits and disease cover.

Katompa said: “This spirit of partnership is well-expressed in Uganda, where 51% of Liberty Uganda is owned by Liberty Group, while East African Underwriters has 49%. We expect to develop a similar local partnership basis as we grow.”

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