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CIC Africa Life Assurance Ltd

A subsidiary of CIC Insurance Group (PLC), CIC Africa Life Assurance is one of the leading insurance service providers in the region providing insurance and related financial services.

For more than 6 years, the company has reliably cushioned individuals, cooperative, public and private sectors in Uganda through provision of insurance services to help mitigate risks against themselves, their businesses and help with planning for life events at varied stages.

Our company ownership is structured along the principle of mutuality. This is aptly demonstrated through a significant ownership of the business having been set aside specifically for cooperatives. Through this arrangement, we ensure that our service provision is top notch, and that profit maximization is realized not only through policyholder benefits but also through shareholder returns.

Welcome to CIC. “We keep our word” to secure your future.

CPA Derick Nkajja
Board Chairman

Francis Ogwang

Nelson Kuria
Director

Dr. Nelson Kuria

Derick Nkajja
Director

CPA Derick Nkajja

Director

Christine Kawasiima

Joseph
Director

Joseph Areu

Diana
Director

Diana Nabukenya

Mr. Tom Omiti
Chief Executive Officer – CIC Africa Life Assurance Ltd

Mr. Tom Omiti

Board Chairman

Francis Ogwang

Francis Ogwang is the chairman, Board of Directors – CIC Africa Life Assurance Uganda Limited.
He is currently the Country Manager Uganda East African Development Bank since 2018 to date. Previously, Francis worked as the country Head of Corporate Banking Ecobank Uganda, he has played various roles in Credit, Operations and Business Development; last role held was Chief Manager Business Growth Centenary Rural Development Bank Limited 2000-2012
Francis is pursuing a Master of Philosophy in Development Finance at Stellenbosch Business School-University of Stellenbosch, South Africa. He has a Master of Business Administration Finance and Accounting, and a BA Economics from Makerere University Business School, Post graduate diploma in Banking and Risk Management – SIDA/KPMG Program
He is also a Board Member; Uganda Development Corporation, Board Member, Micropay Uganda Limited, Board Member of the Uganda Catholic Management and Training Institute, as well as Past President of the Rotary Club of Kiwatule

Director

Dr. Nelson Kuria

Dr. Nelson Kuria aged 67, Joined the Board in the year 2020 as an Independent Non- Executive Director. He holds a BA in Economics, MA in Leadership studies and an Executive Leadership training from Stanford Business School. The Director has 36 years of experience in development finance and insurance. He entered the insurance industry in 1982 through Kenya National Assurance Company as an assistant Manager in charge of Research and rose to the position of Chief Manager General Insurance Division and later also served as the General Manager in Gateway insurance Company. He was the CIC Insurance Group CEO from 2011 to 2015. Dr. Kuria is currently the Chairman of Smep Microfinance, Enwealth Financial Service and African International University Council. He is also a Board Member of Kenyatta National Hospital, Habitat for Humanity and Kenya Society of Professional Co-operators

Director

CPA Derick Nkajja

CPA Derick Nkajja aged 50 a Director seconded by the Uganda Cooperative Saving and Credit Union (UCSCU). He is a Certified Public Accountant, a member of ICPAU. He is also the sitting Chief Executive Officer and Secretary to the Council of the Institute of Certified Public Accountants of Uganda (ICPAU).

 

CPA Nkajja serves on the Finance Committee of the Institute of Corporate Governance of Uganda (ICGU). He is the Board Treasurer of Uganda Cooperative Savings & Credit Union Ltd. He also serves on the Trade Committee of the Private Sector Foundation of Uganda.

 

Previously, CPA Nkajja served as the Chairperson of Franciscan Investment Cooperative (FIC SACCO), one of the vibrant SACCOs in Uganda. He represented the African Continent on the International Federation of Accountants (IFAC) Compliance Advisory Panel (CAP) for a period of six (6) years. He served on the founding Board of the Pan Africa Federation of Accountants (PAFA), representing the Eastern Africa region.

 

Before Joining ICPAU, he was a Finance Manager at Capital Radio Limited in Uganda, a media group with interests both in Uganda and Kenya.

 

He holds a Master of Business Administration of Edinburgh Business School, Heriot-Watt University UK, a Bachelor of Commerce (Accounting) of Makerere University and a Diploma in Business Studies.

Director

Christine Kawasiima

Christine holds an upper second-class degree in Economics from Makerere University, an MBA (Finance) degree from the University of Leicester and is a fellow of the ACCA.

Christine has 21 years’ experience in external and internal audit. She began her career at Pride Africa a Microfinance Institution, and later joined Ernst & Young Kampala where she worked for close to 4 years before joining Uganda Management Institute (UMI) as Chief Internal Auditor.

She was a board member of the Institute of Internal Auditors Uganda and ACFODE during the period 2009 and 2011. She also served as a co-opted member of the Audit Committee of Busitema University (2011-2016). She was a non-executive Director at Tropical Bank Limited (2018 to 2020) and also served on the CPA SACCO Board as Vice Chairperson during the period 2018 to 2021. Christine is currently an independent non-executive Director of Vision Fund Uganda.

She is a member of professional bodies including the Institute of Internal Auditors, ICPAU and the ACCA. She is also a member of the Institute of Corporate Governance of Uganda, the League of East African Directors and is a Rotarian

Director

Joseph Areu

Joseph Areu, 58 joined the Board in 2022 as an Independent Non-Executive Director. He has 26 years of experience in Development Finance having worked for Uganda Development Bank, CDC PLC and IFC of the World Bank Group from 1988 to 2014. For the last 6 years, he has been providing independent investment advice to SACCOs, Companies and Retail Individuals in the capital markets in Uganda. Mr. Areu is also an Independent Director on the Boards of ALTX East Africa Ltd and SEEK Group Support Psychotherapy Initiative Ltd. Mr. Areu holds an MBA from the University of Missouri in the USA and a Bachelor of Statistics degree from Makerere University. He also has qualifications in Investment Management from the CFA UK Chapter and is a member of the CFA UK Society.

Director

Diana Nabukenya

Diana was appointed an Independent Non-Executive Director for CIC Africa Insurance effective February 2022. She is a 37 years Old Ugandan national with a strong background in commercial, marketing and strategy in corporate FMCGs, renewable energy and M/E commerce.
She has led businesses and teams for over 14 years.  Having lived and worked in 5 countries in Africa, she knows the continent well.
Diana is currently Country Director for Copia in Uganda. She was responsible for setting up Copia Uganda’s operations – their  first International market and is now accelerating growth in Uganda.
She holds a Masters in Business Administration from Edinburgh Business school Scotland, Bachelor’s degree in Tourism from Makerere University, Uganda and is currently Pursuing her Project management Professional(PMP) from Project management Institute , USA.
Diana is a member of Maishabora sacco Kenya, Uganda Golf club and Entebbe Golf club.

Chief Executive Officer – CIC Africa Life Assurance Ltd

Mr. Tom Omiti

Tom is the Chief Executive Officer. He holds a Bachelor of Commerce (Insurance Option) from the University of Nairobi. He is an Associate of the Chartered Insurance Institute of London (ACII) as well as an Associate of the Insurance Institute of Kenya (AIIK).

Mr. Omiti has over 26 years working experience in insurance. He has worked in various senior positions in Insurance. Prior to joining CIC Group Ltd he was the Chief Executive Officer- at Kenya Orient Life Assurance Limited (a company he set up from scratch).

He previously worked at Kenya Orient Insurance Company as the Regional Manager in-charge of Coastal Region in Kenya, with the main focus of business development in the region. He is a certified Pensions Trustee (Trustee Development Program of Kenya, TDPK).

He has a certificate in Corporate Governance from Center of Corporate Governance. He joined CIC Africa Life in April 2021.

CIC Life Assurance quick facts as of 2022

7
Products
13.36
GWP
16.5
Total Assets

This subsidiary offers a wide range of life assurance products to cater to the various insurance needs of different market segments. They include;

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