Sanlam Uganda makes UGX 475 million payout to clients

June 4, 2020 in Business, Companies, Financial Services by Editor

Susan Namulinda (Senior Premium Administrator), Justine Tabu Mukasa (client/beneficiary), Doreen Muhangizi Asasira (Head, HR) and (Ag.) CEO Nicholas Lutakome at the Sanlam Life Head Office in Bugolobi on Thursday, as Sanlam Life announced a UGX 475 million cashback to its Individual Life Clients.

Sanlam Insurance Uganda Limited is set to pay out over UGX475 million to its Individual Life clients in the form of cash back against premiums paid on their policies. This is to help kick-start its clients’ lives following the disruptions caused by the Covid-19 pandemic.

“We cannot have a successful Sanlam in a struggling Ugandan economy, which is why we are making half a billion shillings available to some of our customers to provide hope as life returns to normal,” Nicholas Lutakome, the acting company CEO said on Thursday.

As the global pandemic continues to wreak havoc across the world, it has not only claimed over 300,000 lives, but also many businesses. SMEs in particular have suffered in the process, affecting the livelihoods of many families during the lockdown. However, the country’s lockdown restrictions are being eased.

On 14 April, Sanlam Uganda donated UGX 285 million through the National Task- force to help in efforts to flatten the curve and assist the Ministry of Health in the fight against COVID-19. The money went to the purchase of protective wear for the country’s frontline health workers, including face masks, face shields and PVC aprons.

Established in 1918 as a life insurance company, South African-based Sanlam, has become the largest non-banking financial services group in Africa, through its global diversification strategy.

Sanlam Life Insurance (U) Ltd was launched on 23^rd March 2010 after being licensed by the Insurance Regulatory Authority as a Life Insurance Company in Uganda. Sanlam’s areas of expertise include insurance (life and general), financial planning, retirement, investments and wealth.

Lutakome said, “We are celebrating 10 years of operations in Uganda this year and are planning to be around for much longer. It’s in times like these that an insurance company needs to move closer to its clients to offer a helping hand towards the recovery of the economy. We want to urge the public to exercise the necessary caution and stay safe.”

Sanlam has a direct stake in financial services entities in Namibia, Botswana, Swaziland, Zimbabwe, Mozambique, Mauritius, Malawi, Zambia, Tanzania, Rwanda, Uganda, Kenya, and Nigeria. It also owns SAHAM Finances Group, thereby having a footprint of insurance operations in Morocco, Angola, Algeria, Tunisia, Ghana, Niger, Mali, Senegal, Guinea, Burkina Faso, Cote D’Ivoire, Togo, Benin, Cameroon, Gabon, Republic of the Congo, Madagascar, Burundi, and Lesotho, making it the largest non-banking financial services group in Africa.