South Africa-based Liberty Holdings has purchased a majority interest in Uganda’s short-term insurer East African Underwriters (EAUL).
Terms of the deal have not been disclosed.
The deal allows Liberty to have a 51% interest in EAUL, which provides non-life and general insurance services.
The deal is expected to expand Liberty’s insurance operations in the East African market, and is already offering services in Kenya and Tanzania.
Based in Kampala, EAUL offers insurance services to industries, manufacturers and professionals.
EAUL’s insurance solutions division provides a wide range of general insurance products, including fire, theft, motor, marine, workers’ compensation, personal accident and public liability.
The firm also offers medical insurance product Liberty Blue as travel insurance, evacuation cover and oracle med health hospitalization cover.
In addition, the firm received license to provide its insurance products in Lesotho.
With operations in around 16 African countries, Liberty offers a comprehensive range of long-term insurance products and services, which include life and health-related insurance products.
The firm also offers asset management and investment products.
Image: East African Underwriters provides insurance services to industries, manufacturers and professionals. Photo: courtesy of Stuart Miles / FreeDigitalPhotos.net.