Liberty General Insurance unveiled its new identity and look at an event at Sheraton Kampala Hotel, after taking over what remained of East African Underwriters Limited (EAUL). It will now join Liberty Life Assurance, the life insurance arm that was earlier bought by the same party from EAUL.
“We are excited to announce that we are changing our company name to Liberty General Insurance Uganda Limited. Liberty Holdings Limited acquired a 51% stake in EAUL in January 2016. Since the acquisition, we have worked diligently to bring the best of both companies together, for the benefit of all our stakeholders.” Said Liberty General Insurance Uganda Limited, Managing Director Mr Peter Makhanu.
“Our new name and brand represents our purpose to make a difference in people’s lives by enabling their financial freedom, he added.
Liberty is a pan-African financial services group in 24 countries that offers an extensive range of products and services to help customers build and protect their wealth and lifestyles. These include; life, general and health-related insurance and investments.
Liberty General and Life will now be under one roof while they focus on growing their penetration. They plan on doing this by responding to the needs of Ugandans by launching innovative, simple, relevant but accessible offering covering both worlds of insurance.
Insurance penetration, however, remains low in Uganda and currently stands below 1%.