Britam Uganda has officially launched Britam Life, its new life assurance business, marking a strategic expansion of its services in the country. The launch took place during Britam’s 60th anniversary celebrations on July 9 at the Kampala Serena Hotel.
The new entity will initially focus on Group Life and Credit Life solutions, targeting enhanced financial protection for families and institutions across Uganda. This expansion leverages Britam Group’s six-decade legacy and strong insurance presence across Africa.
The launch comes at a pivotal time for Uganda, where demand for accessible, customized life insurance is growing. Yet, insurance penetration remains low—at just 0.87%—with life insurance accounting for only 38% of gross written premiums in 2023, according to the Insurance Regulatory Authority of Uganda (IRA). This underscores a significant coverage gap and an urgent need for inclusive solutions.
“With this launch, we reaffirm our commitment to meeting the real-life needs of Ugandan families and institutions,” said Aidah Nkwanzi Mwebaze, CEO of Britam Life Assurance Uganda. She emphasized the company’s integrated offering—combining life assurance, general insurance, and asset management—to provide holistic protection “from cradle to legacy.”
Since entering Uganda in 2010, Britam has grown into one of the country’s leading insurers. The introduction of Britam Life extends its reach, enabling the firm to better serve both individual and institutional clients within Uganda’s evolving economic landscape.
Board Chairperson Grace Makoko welcomed the move, calling it “timely and necessary.” She said, “This reflects our deep-rooted commitment to responsive, relevant insurance solutions and long-term growth in Uganda.”
Britam Life will benefit from the Group’s extensive experience across seven African countries. In Kenya, Britam is the market leader in life insurance, commanding over 25% market share—a position built on innovation, distribution strength, and customer trust.
“These products are built on proven models from East Africa but customized for Uganda,” noted Ambrose Dabani, Britam’s CEO and Principal Officer for Life Assurance.
Tom Gitogo, Group Managing Director and CEO of Britam Holdings PLC, underlined the strategic importance of Uganda in Britam’s pan-African vision. “Uganda is a cornerstone in our regional footprint. This launch reinforces our purpose—to safeguard dreams and aspirations—as we celebrate 60 years under the theme ‘We’ve Got Life,’” he said.
The launch drew strong support from industry leaders and regulators. Kaddunabbi Ibrahim Lubega, CEO of the IRA, speaking on behalf of the Minister of Finance, welcomed Britam Life, noting Britam’s origins as a life company. He reaffirmed the IRA’s commitment to providing a supportive regulatory environment and lauded the company’s confidence in Uganda’s insurance sector, which grew 15% in 2024, generating over UGX 701 billion in life premiums.
Lubega urged innovation in addressing real market needs, especially in individual life products. He also announced the IRA’s achievement of ISO 9001:2015 certification, setting a benchmark for the industry.
Britam Life’s Initial Offerings Include:
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Group Life Assurance: Provides financial protection to employees’ families upon death, with benefits based on salary multiples and flexible terms.
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Credit Life Assurance: Protects lenders from losses due to borrower death, helping manage loan risk.
Additional benefits include:
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Total & Permanent Disability Cover
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Critical Illness Cover
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Funeral Last Expense
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Retrenchment Rider
These flexible options empower clients to tailor protection beyond basic cover—offering real peace of mind.
Mwebaze also announced plans to introduce individual life solutions within six months, emphasizing a digital-first approach. “We’re designing products for the boda rider in Gulu, the teacher in Jinja, and the startup founder in Itanda,” she said. “Our goal is to make life insurance as commonplace as a mobile phone.”
