UAP Insurance sets foot in southern Sudan
Dec 07, 2005
UAP Insurance Company, the parent company of United Assurance Company, is expanding to southern Sudan and Tanzania after consolidating business in Uganda and Kenya.
By Peter Kaujju
UAP Insurance Company, the parent company of United Assurance Company, is expanding to southern Sudan and Tanzania after consolidating business in Uganda and Kenya.
Dr Joe Wanjui, UAP group’s chairman, said the move to East Africa and the Great Lakes region aimed at transforming the group into a key player in Africa.
“The re-branding of United Assurance in Uganda, which has been very successful, is the beginning of consolidation of our business in the region. Our focus in a few years to come will be the greater African market,†Wanjui said at a cocktail party in Kampala recently.
He said Uganda was key to the growth of business in the region because of proximity to the new markets of southern Sudan, Rwanda, Burundi and DR Congo.
Gordon Wavamunno, United Assurance’s chairman, said partnering with UAP would enable the company gain from the experience and foresight of UAP.
Mathew Koech, United Assurance’s managing director, said, “The alliance means that United Assurance is now a subsidiary of UAP Insurance thus forming a strong regional insurance group with assets in excess of $50m (sh91.75b) and revenues approaching $25m (sh45.8b).â€
United Assurance recently re-branded to reflect its association with UAP Provincial Insurance Company Limited of Kenya.
UAP Insurance Company, the parent company of United Assurance Company, is expanding to southern Sudan and Tanzania after consolidating business in Uganda and Kenya.
Dr Joe Wanjui, UAP group’s chairman, said the move to East Africa and the Great Lakes region aimed at transforming the group into a key player in Africa.
“The re-branding of United Assurance in Uganda, which has been very successful, is the beginning of consolidation of our business in the region. Our focus in a few years to come will be the greater African market,†Wanjui said at a cocktail party in Kampala recently.
He said Uganda was key to the growth of business in the region because of proximity to the new markets of southern Sudan, Rwanda, Burundi and DR Congo.
Gordon Wavamunno, United Assurance’s chairman, said partnering with UAP would enable the company gain from the experience and foresight of UAP.
Mathew Koech, United Assurance’s managing director, said, “The alliance means that United Assurance is now a subsidiary of UAP Insurance thus forming a strong regional insurance group with assets in excess of $50m (sh91.75b) and revenues approaching $25m (sh45.8b).â€
United Assurance recently re-branded to reflect its association with UAP Provincial Insurance Company Limited of Kenya.