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

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Magazine Issue: 
The haves and the have nots, inequality in the face of risks [3]
Magazine date: 
Apr 2017

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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Wed, 10/05/2017 - 12:54

Source URL: https://www.atlas-mag.net/en/article/lion-assurance-takes-advantage-of-aigs-exit-from-the-market

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[4] http://www.atlas-mag.net/en/category/regions-geographiques/afrique