KAMPALA-Sanlam General Insurance has said it will introduce specialised insurance services such as aviation, marine, corporate risks, properties liability and crop insurance in Uganda within the next 12 months.
Speaking to Daily Monitor in Kampala on Wednesday shortly after addressing a news conference to announce the rebranding of NIKO Insurance Company, the group chief executive officer of Sanlam, Mr Ian Kirk, said: “We are going to introduce specialised insurance services which are still lacking in this country over the next 12 months. These specialised services include aviation and marine, corporate risks properties liability and crop insurance.”
He said they are awaiting approval from Insurance Regulatory Authority to enable start offering the new products.
This follows Sanlam General Insurance’s taking over of NIKO Insurance Company and rebranding it as Sanlam General Insurance.”
He added: “For clients, shareholders, brokers and employees, the rebranding will enhance the existing benefits of the company’s partnership with Sanlam, giving access to the large group’s financial strength, technical expertise and brand equity.
“It will also enable the insurer to offer more innovative and accessible products to additional segments of the Uganda population.”
Besides the specialised insurance services, Mr Kirk also said they will also provide asset management services, properties, health fund and pension fund management within the next five years.
Sanlam, the South African based financial services group, is the majority shareholder in NIKO and it operates in 15 African countries.