By David Mwanje
KAMPALA— In a vibrant celebration of its 60th anniversary, Britam Holdings PLC has unveiled a new chapter in Uganda with the launch of Britam Life Assurance, a bold step to weave a safety net for families and institutions across the nation. Under the spirited banner of “We’ve Got Life,” Britam Life debuted its offerings, focusing initially on Group Life and Credit Life insurance solutions, tailored to meet Uganda’s rising demand for accessible and innovative protection.
Britam Life steps into Uganda’s insurance landscape with a promise to shield dreams and aspirations, drawing on the Group’s six decades of expertise across seven African countries. “We’re not just offering policies; we’re building trust,” said Aidah Nkwanzi Mwebaze, CEO of Britam Life Assurance Uganda. “Our insurance solutions are crafted to resonate with the heartbeat of Ugandan families and businesses, addressing their everyday realities.”
Since planting its roots in Uganda in 2010, Britam has grown into a leading insurer, and this expansion into life assurance signals a deeper commitment to the country’s dynamic economy. The Insurance Regulatory Authority of Uganda’s 2023 report paints a clear picture: with insurance penetration at a modest 0.87%, and life insurance making up 38% of premiums, there’s fertile ground for growth. Britam Life aims to cultivate this space with inclusive, forward-thinking products.
Group Life Assurance offers employees and their families a financial buffer against life’s unpredictability, with customizable benefits tied to salary multiples. Meanwhile, Credit Life Assurance acts as a safeguard for lenders, protecting against loan defaults triggered by a borrower’s passing a tool to foster responsible lending in Uganda’s bustling financial sector.
“This launch is a milestone, not just for Britam but for Uganda’s insurance industry,” said Grace Makoko, chairperson of Britam Life Assurance Uganda. “It’s a testament to our resolve to deliver insurance solutions that truly matter to Ugandans.”
Britam Life inherits the Group’s robust legacy, notably its dominance in Kenya, where it commands over 25% of the life insurance market. “We’ve taken proven models from East Africa and tailored them to Uganda’s unique rhythm,” said Ambrose Dabani, Britam’s CEO and Principal Officer of Life Assurance. “Our offerings are reliable, relevant, and ready to make an impact.”
Tom Gitogo, Group Managing Director and CEO of Britam Holdings PLC, underscored Uganda’s pivotal role in the company’s pan-African vision. “This launch is a celebration of our heritage and a step toward a future where Ugandans can dream big, knowing we’ve got their back,” he said.
Beyond standard coverage, Britam Life’s insurance products come with thoughtful extras: lump-sum payouts for total and permanent disability, support for critical illnesses like cancer or stroke, funeral expense assistance, and even a retrenchment rider to soften the blow of job loss. “This is more than insurance it’s a promise to stand with Ugandans through life’s highs and lows,” Mwebaze added.
Looking ahead, Britam Life is set to roll out individual life insurance products later this year, including unit-linked plans, endowment solutions, and offerings designed for Uganda’s vibrant SME sector. As the company sows the seeds for a more secure future, it’s clear Britam Life is here to nurture Uganda’s aspirations, one policy at a time.
