Stanbic Bank embarks on bancassurance

The Insurance Regulatory Authority (IRA) granted Stanbic Bank license on 25 October 2017 to carry out bancassurance activities. The bank has already entered into several commercial agreements with insurance companies including Sanlam Life, Sanlam General, UAP Old Mutual General, UAP Old Mutual Life and Liberty Insurance.

Stanbic Bank is the first institution to offer bancassurance services in Uganda, an initiative that comes after the promulgation in September 2017 of a new law governing this activity in the country.

More news:

• The insurance industry in Uganda