PROFILE
East African Underwriters Ltd is a fully registered and licensed insurance company, approved by the Insurance Regulatory Authority with a paid up capital of Ushs Four Billion. The company also has a Re insurance protection program that guarantees reliable protection. EAUL is 51% owned by Liberty Holdings Ltd, a Johannesburg listed insurer that was founded in 1957 by Sir Donald Gordon. Lib
erty is an established and growing Pan- African financial services group, with a presence in 16 countries in Southern Africa, East & Central Africa and West Africa. Liberty offers a comprehensive range of long-term insurance products, value added services, health solutions, retirement income facilitation, investment, and lifestyle risk solutions for both the retail and corporate markets. Liberty is one of four biggest listed long-term insurers on the JSE by market capitalization and ranks as one of the 50 largest companies in South Africa, with products distributed across multiple channels throughout Africa. In 2002 Liberty established a unique and valuable Bancassurance agreement with Standard Bank, the biggest bank in Africa, also Liberty’s majority shareholder at 54%. The value of new business derived from this partnership during 2014 was 30% higher than 2013. In 2007 Liberty acquired 100% of STANLIB Asset Management, currently a significant participant in the institutional and mutual fund market in South Africa and East Africa, offering clients a range of distinct investment solutions from varied franchises via portfolios and specialist asset classes. Remaining 49% of EAUL is owned by Madhvani Group, one of Uganda’s largest and most esteemed private enterprise groups with significant interests in almost all sectors of the economy. The flagship of the Group is Kakira Sugar Limited, which was established in 1930, and now enjoys a commanding position in Uganda’s economy. Kakira sugar employs over 8,300 people, produces over 180,000 tonnes of sugar annually, which is 50% of Uganda’s consumption. It also generates 51MW green electricity from bagasse, a by-product from sugar production. Of this, 34MW is supplied to the national grid, it is currently embarking on a USD36 million liters per annum bio-fuel ethanol or extra neutral alcohol using another by-product, molasses. Together with direct employment, its activities support over 100,000 Ugandans