On 8 July, His Excellency President Museveni met Mr Matt Lilley, CEO Africa, Prudential, who is in Uganda for the launch of the company’s Ugandan operation.
Prudential plc, one of the largest and most well known life insurance companies in the world, has selected Uganda as its third insurance market in Africa by acquiring Goldstar Life Assurance.
Prudential has ambitious plans to create a market-leading insurer serving the growing long-term savings needs of Ugandans. It intends to create 2,000 high quality jobs by 2020, which will be a mixture of employees and self-employed agents.
The acquisition of Goldstar, which is now known as Prudential Uganda, is an important milestone in Prudential’s growth in Africa following the launch of Prudential Ghana and Prudential Kenya in 2014.
Prudential has also signed a long-term cooperation agreement with Crane Bank to explore opportunities to work together across Uganda.
Matt Lilley, Africa CEO, Prudential said: “This announcement is an important milestone for Prudential and our growing African business. We look forward to working with our new colleagues at Prudential Uganda to build the business, generate jobs and develop innovative products to help Ugandans plan for the future. We are also delighted to cooperate with Crane Bank, one of Uganda’s leading financial services firms, and look forward to working with Crane to serve our customers in the future.”
Notes to Editors:
About Prudential plc
Prudential plc is incorporated in England and Wales and is one of the world’s leading financial services groups. Prudential has been in existence for more than 167 years and provides insurance and financial services through its subsidiaries and affiliates throughout the world. It has around 24 million insurance customers in the UK, US, Asia and Africa, and more than US$ 773.3 billion of assets under management (as at 31 December 2014).