UAP Insurance Rwanda is fully adopting the brand of its majority shareholder, Old Mutual, effective 11 February 2022. Old Mutual acquired a controlling stake in UAP Holdings in 2015 which saw the organization change to the brand UAP Old Mutual in Kenya, Uganda and South Sudan while Rwanda and Tanzania retained the UAP brand.
With more than 176 years of experience across 13 markets on the continent, and one of the largest distribution networks, Old Mutual is known as the certain friend in uncertain times, especially because the insurer is famous for settling claims and enabling our clients to create, preserve and grow their financial dreams.
Customers, communities and employees will be the biggest beneficiaries of the rebrand as Old Mutual will be able to seamlessly leverage its Pan-African skills and resources to enable the Rwanda market unlock possibilities. Recently, the insurer has been increasing its digital offering to ensure safer access to financial services, innovative solutions that enables staff to work from home insuring minimal disruption of business. Old Mutual has also contributed more than Rw31.6 million to government efforts, aimed at minimizing and managing the effects of the virus.
“We are committed to championing mutually positive futures for all stakeholders. East Africa is core to our growth, especially because of the lower insurance penetration in the region” says Clement Chinaka, Managing Director of Old Mutual Rest of Africa.
The insurer is a listed company on the Johannesburg Stock Exchange with secondary listings on the London, Malawi, Namibia and Zimbabwe stock exchanges, in 2021 Brand Finance report has ranked Old Mutual in the top 10 strongest brands, as well as in the top 100 most valuable insurance brands globally.
Old Mutual invested in UAP because of its strong position in East and Central Africa and a product offering that is highly complementary to its existing businesses. The acquisition increased Old Mutual’s scale by 1.5 million customers and provided more exposure to five East African countries.
“To accelerate the countries financial inclusion and prosperity, we will continue to provide customers with a choice of suitable and accessible solutions, delivered through convenient offerings such as mobile payment and saving solutions for life events such as unforeseen health expenses” add Arthur Oginga, Group Chief Executive for UAP Old Mutual East Africa.
Arthur Oginga – Group Chief Executive Officer – East Africa
Customer can expect an enhanced experience and engagement while the 6 existing UAP branches, offices and other assets such as website will evolve from UAP’s red to Old Mutual’s corporate colours and guidelines. Existing UAP customers will not be required to make any changes to their policy documentation, products or cards.
“As a market leader in short term & health insurance in Rwanda, we take our responsibility very seriously. We approach our customers as partners. We make sure we understand exactly what their needs, hopes and dreams are. Then work together with them to unlock possibilities, year after year, for generations to come” concluded
Annie Nibishaka MD Old Mutual Insurance Rwanda
Annie Nibishaka, Managing Director for Old Mutual Insurance, Rwanda.
A similar rebrand programme is planned for the other East Africa countries as the Old Mutual seeks to strengthen its presence as the leading and most recognised insurance brand on the continent.
Note to Editors
About UAP Old Mutual
UAP Old Mutual Group is a subsidiary of Old Mutual Limited, a listed company on the Johannesburg Stock Exchange with secondary listings on the London, Malawi, Namibia and Zimbabwe stock exchanges. As a Pan-African financial services company with a strong heritage of 175 years, it has presence in 13 markets across Africa. In East Africa, the Group has over 1.5M customers, 1,400 employees, 12 iconic properties and over USD 2B in funds under management in the region.
In Kenya where it has been serving customers for over 100 years, the UAP Old Mutual Group has the largest short-term insurance business and a fast-growing Life Assurance business. It has established diverse distribution networks via brokers, an agency force, direct sales, bancassurance, digital channels and supermarkets.
In South Sudan, the Group has the largest short-term insurance business. In Uganda, the Group has the largest Life Assurance Business and has the second largest short term business in the country. UAP Old Mutual also has short term insurance businesses in Rwanda and Tanzania.
Regionally the Group has a Kshs. 20B property portfolio with iconic buildings; Equatorial Tower in South Sudan, Nakawa Business Park in Uganda and UAP Old Mutual Tower in Nairobi among others.
For further information on Old Mutual plc, please visit the corporate website at www.oldmutual.com
