Jubilee Allianz appoints four directors

Jubilee Allianz General Insurance has appointed Mr Timothy Masembe as the new chairman.

Mr Masembe, whose appointment takes effect on October 22, is among other key directors appointed to drive the company to meet its growth and business strategies.

Other appointments include Mr Jimmy Douglas Mugerwa and Mr Peter Kimbowa, both of whom have been appointed independent non-executive directors while Mr Paul Kavuma has been appointed chief executive officer.

Mr Masembe, who is also the managing partner at MMAKS Advocates, has been on the board as an independent non-executive director since 2010 and serving in different capacities, among which include chairman of the board audit and compliance committee.

The appointments follow an announcement in October last year, in which Allianz acquired a 66 percent stake in Jubilee Insurance Uganda while Jubilee Holdings retained a 34 percent stake. Allianz is currently present in 13 African countries providing various insurance services.

In Uganda, it provides insurance service under individuals, which includes personal accident, motor insurance, travel insurance, home insurance. 

 Under the corporate insurance policy, it provides professional indemnity, all risk insurance and group personal accident.

In a statement issued yesterday, Jubilee Allianz said the appointments will seek to enhance and maintain its strategic growth.

 Mr Kavuma has extensive experience in insurance, having worked for more than 24 years in both insurance and broking.

Prior to joining Jubilee Allianz, he was the chief executive officer of Uganda Insurers Association and has previously worked with AIG Insurance, AON Insurance Brokers and Goldstar.

Mr Mugerwa and Kimbowa are seasoned business executives with years of executive leadership.