It’s now Liberty General, not any longer East African Underwriters

Insurance firms are sure the coming of bancassurance, a platform where banks are allowed to carry out insurance services, will reduce its costs.

Xolani Nxanga Divisional Director Short Term Insurance at Liberty General Insurance says distribution is one on their biggest costs and if banks act as agents, it will reduce the cost.

Speaking at the rebranding of East African Underwriters Ltd to Liberty, Nxanga said, they will also find a way to make premium payment flexible.

Clip: XOLANI

Board Chairman Peter Kabatsi says the transition to Liberty will enable them bring in the pan-African experience to change the image of the insurance sector in Uganda.

Clip: Kabatsi

Liberty Holding took over 51 percent shareholding of EAUL last year.

Peter Makhanu, the Managing Director of Liberty General Uganda says there is need for the companies in Uganda to evaluate their products and services and compare them with those in other countries.

He says this is what Liberty will do, leveraging on its presence in 24 African countries.

Clip: Makhani