Lion Assurance plans to take over AIG's Ugandan subsidiary

Following the announcement of the withdrawal of the American International Group (AIG) from Uganda, Lion Assurance Company (LAC) has announced its intention to purchase the local subsidiary of the American insurer.

This operation will enable the LAC, currently present in Botswana and Zimbabwe, to strengthen its position on the local market.

It should be noted that the Ugandan insurer reported a 48.5% increase of its turnover in 2015 which amounted to 35.2 billion UGX (10.5 million USD) in comparison with 23.7 billion UGX (8.6 million USD) in 2014.

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