UAP OLD MUTUAL has appointed David Kuria as the new Managing Director for the business effective 1 July 2016.
Mr. Kuria takes over from Ag, MD Francis Kajura who is expected to return to his former position of Managing Director UAP Financial Services.
UAP is one of the leading insurance firms in Uganda. Last year, UAP General Insurance Uganda, grew its gross written premium by 42%, posting a record Ugx. 102.5 billion up from Ugx. 72 billion in 2014.
The growth is attributed to the company’s ability to harness opportunities in growing sectors of the economy such as large infrastructure projects, SMEs, prudent underwriting and enhancement in its direct sales force model.
For the last five years, UAP’s premiums growth has consistently been above the market growth. UAP also paid out more claims during the year with its net claims increasing by 8% from Ugx. 29 billion in 2014 to Ugx. 31 billion in 2015.
“David who was previously the MD for our subsidiary, UAP South Sudan, is no stranger to the Ugandan market. David established Britam’s Insurance Company business in Uganda and served for 3 years. He has grown our South Sudan business despite a challenging operating environment and solidified its position as the market leader. His knowledge, leadership and experience will be critical in building the Uganda business and delivering stakeholder expectations.” Said Peter Mwangi, the Group CEO for the UAP Old Mutual Group in East Africa
He holds a Bachelor of Arts (B.A.Hons) degree from the University of Nairobi, a Masters of Business Administration (MBA) graduate of Jomo Kenyatta University of Science & Technology (JKUAT) as well as a Chartered Insurer of the Chartered Insurance Institute of the United Kingdom (ACII/Chartered Insurer).
David has acquired substantial experience in insurance and business management, having been in the industry for the last 22 years.
“The Board of Directors is confident that David will provide strong leadership in our business and oversee the successful execution of the General Insurance Strategic Plan in this market working ably with you our partners as well as our committed staff team. David’s substantial experience in insurance and business management, having been in the industry for the last 22 years is a strength in the market.” he Said.
Alongside the MD’s appointment, Allan Kyabadde also takes over the role of Chief Finance Officer. He previously held the position of Chief Accountant at UAP Life Assurance Uganda Limited since September 2013.