Britam Uganda has officially launched its life assurance business, deepening its presence and service offering in the country with an initial focus on Group and Credit Life solutions.
Dubbed “Britam Life,” the new company offers risk protection for individuals, families, and financial institutions, and enters the market at a time when Uganda’s need for tailored, accessible life insurance cover continues to grow.
“With this life assurance offering, we are reinforcing that trust with solutions that speak directly to the everyday realities of Ugandan families and institutions,” said Aidah Nkwanzi Mwebaze, CEO Britam Life Assurance Uganda.
The launch coincides with Britam Group’s 60th anniversary,celebrated under the campaign “We’ve Got Life.”
Since entering Uganda in 2010, Britam has grown into one of the country’s leading insurers.
According to the Insurance Regulatory Authority of Uganda Performance Report 2023, the country’s overall insurance penetration stood at 0.87%, with life insurance contributing 38% of total gross written premiums.
Despite this progress, overall coverage remains low particularly in life assurance underscoring the need to expand access through more inclusive, innovative, and tailored protection solutions.
Group Life Assurance provides financial protection to employees and their families in the event of death, with benefits typically based onannual salary multiples and flexible coverage options. Credit Life Assurance shields lenders from loan defaults caused by a borrower’s death, helping institutions manage risk and promote responsible borrowing.
Grace Makoko, Chairperson of Britam Life Assurance Uganda, welcomed the launch as a timely advancement for the sector.
“As a Board, we view this launch as both timely and necessary. It reflects our long-standing commitment to delivering responsive insurance that addresses the real needs of Ugandans today. We’re proud to support this expansion into life assurance as part of Britam’s broader strategy for long-term growth in Uganda.”
“These solutions are built on tested models across East Africa, adapted for the nuances of the Ugandan market. Our teams have collaborated closely to ensure that what we offer here is not only reliable but relevant,” said Ambrose Dabani, Britam’s CEO and Principal Officer of Life Assurance.
Speaking from the Group, Tom Gitogo, Group Managing Director and CEO of Britam Holdings PLC, underlined the broader strategic significance:
“Uganda is a key pillar in Britam’s pan-African presence. We are pleased to see our life assurance portfolio take root here, with solutions that draw on regional expertise but are tailored for local impact. It’s a milestone that speaks to both our heritage and our future, reinforcing our brand purpose of safeguarding dreams and aspirations in our 60th year”