UAP Old Mutual Group begins operation in merged branches


UAP Old Mutual Group will begin operations in its newly-merged branches this month as it seeks to entice its existing clients while growing its customer base, the insurance and financial services provider has confirmed.

The Group business, now one of the largest financial services providers in Kenya, confirmed its new executive structure and strategy last July following a merger between insurer UAP and investment company Old Mutual.

“Following the acquisition of a 60.7 per cent stake in UAP last year, we continue to make progress towards our goal for integration,” UAP Old Mutual Group Head of Operations Asman Mugambi said in a statement yesterday.

“Besides bringing our staff and product offerings together, we have been working to serve our customers in a one stop shop setting. This would be realised through the provision of central branches,” Mugambi added.

“The growth and expansion potential of our merged business is huge, and there is no doubt that together we are greater than the sum of our parts. I am confident that through our combined strengths and talents we will achieve great things together – for all our customers, employees and other stakeholders in this region,” Ralph Mupita, CEO of Old Mutual Emerging Markets, said as he addressed the press about the future of the Group last year.

“Our vision is to build an African financial services champion and the future has never looked brighter for our business on this awesome continent,” he added.

In his first address about the combined business, the UAP-Old Mutual Group CEO, Peter Mwangi reiterated that for customers, the merger means a comprehensive and enhanced range of professional services, from life and general insurance to banking and asset management, as well as a wider, more accessible distribution network and more digital innovation.

“Effective June 2016 we will be operating in merged branches in the Western and Central region. This includes
Kisumu, Kisii and Nyeri,” Mugambi said.

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