UAP Old Mutual Group is a subsidiary of Old Mutual Limited (OML) based in South Africa and operates in 13 Markets across the region including Uganda. We’re an integrated financial services provider in East Africa, leveraging on the strength of our capabilities in local expertise and the global group. We’re glad to partner with individuals and corporates to provide financial solutions including, General Insurance, Life Insurance, Asset Management, Investment and Banking.
Our Vision is to be our customers’ most trusted lifetime partner, passionate about helping them achieve their financial goals. And, by helping generations achieve those goals, help build the financial prosperity of the societies, businesses and shareholders we engage with. In Uganda, we’re the second-largest insurance company and are also ISO 9001:2015 certified. We hold one of the highest credit rating in the market today (Global Credit Rating A+), a reflection of our ability to meet our liabilities.
The UAP Old Mutual Group is an integrated Financial Service business comprising Faulu Microfinance Bank, UAP and Old Mutual. The Group, which is operational in East Africa offers services to more than 1.2 million customers across Kenya, Uganda, Tanzania, Rwanda and South Sudan.
The UAP Old Mutual Group now comprises of three key players as a result of the acquisition of a controlling stake in Faulu in 2014 and UAP in 2015 by Old Mutual. The acquisition resulted in Old Mutual Kenya, UAP Holdings and Faulu Microfinance Bank, forming one of the largest financial services groups with a growing footprint in East and Central Africa. UAP and Old Mutual have been major players in the financial services market in East Africa for decades. The two entities have vast experience in Insurance, Investment, Asset Management and Banking, and we are passionate about helping our customers achieve their financial goals.
UAP Old Mutual Insurance is a subsidiary of the UAP Old Mutual Group. It was established in 1971 as United Assurance which later became UAP Insurance and recently after the merger with the Old Mutual group, the current name UAP Old Mutual Insurance was adapted. In the insurance industry, UAP Old Mutual is the market leader and one of the fastest-growing establishments.
By capitalization, it is the largest Insurance company offering the best services in the industry and is an award winner as the overall best insurer by insurance brokers for the year 2013 among other awards. It also has the largest reinsurance capacity in the country with a host of first-class reinsurance partners across the African continent and beyond which makes it possible to handle risks of any magnitude.
UAP Life Assurance Uganda Limited was part of a composite company of UAP Insurance Uganda Limited that was incorporated in 1971 and started underwriting the general insurance business the same year in Uganda. The Company survived through the years despite the difficult political and economic situations in the country then. The company has grown over the years and is now one of the largest insurers in Uganda by market share. In the year 2013, as a result of regulatory changes in the industry, requiring composite companies (companies offering a combination of Life and Non-Life Businesses) to demerge their businesses and set up separate registered entities with full board of directors, management and fully subscribed Share Capital in accordance to the regulatory requirements, UAP Life Assurance Uganda Limited became the first Company to demerge and form a separate fully-fledged Life Assurance Company that became operational in September 2013.
UAP Old Mutual Financial Services is a member of the UAP-Old Mutual Group, a leading financial services group in the region with presence in Uganda, Kenya, Rwanda, DRC, South Sudan and Tanzania. UAP Financial Services joined the group in 2010 when UAP Holdings Limited acquired a majority stake in a Ugandan firm, made in Africa Investment Bank that specialized in financial advisory services.
Today, UAP-Old Mutual Financial Services has licenses from Capital Markets Authority (Uganda) and the Uganda Retirement Benefits Regulatory Authority to carry on the businesses of: Fund Management, Stock Broker/Dealer, Investment Advisory and Unit Trust Manager. In addition, UAP Old Mutual Financial Services has a seat at the Uganda Securities Exchange.
Pushing beyond boundaries - We strive as individuals, as a team and as an organization to break new ground and achieve higher levels of performance by reaching to the depth of our abilities.
Accountability - We take responsibility for the commitment that we make, the actions that we take and the problems that occur. We accept that we will be judged on these.
Respect - We treat others as we would like to be treated - and we value and learn from the strength of our diversity. We actively listen to others and recognize that everyone has a contribution to make.
Integrity - We act honestly and openly and are trustworthy and consistent in all we do. We act in accordance with the highest ethical standards.