Lion Assurance Company Ltd (LAC) offers clients a wide variety of highly specialized products and services. LAC’s core business is to take care of clients’ insurance needs. This is embedded in providing short-term insurance and services aimed at specific markets as well as utilizing and optimizing broker and agency network as the main delivery channel.
LAC focuses on the corporate, commercial and personal markets. The corporate business division, supported by various underwriting managers, assist brokers in designing a complete range of tailor-made insurance products and LAC is the leading provider of horticultural and loan protection insurance products.
LAC was recapitalised In January 2006 to the tune of $7 billion making it the second most capitalized short-term insurer in the Uganda. The underlying rationale of recapitalisation was to enhance the policyholder security through strengthened balance sheet while at the same time enhancing the underwriting capacity and the service delivery of the company. This transaction effectively made Lion Assurance a subsidiary of Botswana Insurance Company with an 86% shareholding creating value for clients through an increased group balance sheet and the technical and financial expertise of the holding company and related sister companies
LAC offers the following short term insurance products:
- Motor insurance;
- Fire and allied perils insurance;
- Engineering and related insurance;
- Household insurance;
- Miscellaneous and accidents
- Marine insurance
- Alternative risk transfer
