Lion Assurance takes advantage of AIG's exit from the market

A few months after the departure of AIG of a market deemed to be too small, Lion Assurance has announced having underwritten 5 billion UGX (1.4 million USD) in premiums with former customers of the American insurer. The local insurer has indeed laid hands on all AIG agencies by landing a bid against six other competitors.

AIG agencies used to underwrite 50% of the premiums collected in Uganda by the American group.

In 2015, Lion Assurance was the country’s fourth insurer with a market share of 7.58% behind AIG which detained 8.84%. Lion Assurance is counting on online sales to expedite its expansion.

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