Old Mutual Uganda launches free motor insurance for unit trust customers

Old Mutual Investment Group Uganda has launched a new enhancement to its unit trust proposition, offering customers free motor comprehensive insurance. To qualify for this benefit, customers must maintain a minimum unit trust balance of shs100,000.

This initiative follows a previous integration of unit trusts with life insurance benefits. The company aims to provide holistic financial solutions that combine wealth creation with asset protection. Zaccheaus Kisesi, Managing Director for Old Mutual Investment Group Uganda, stated that the move reflects a shift in customer expectations toward investment solutions that support broader financial needs.

Andrew Makumbi, Managing Director of Old Mutual Insurance Uganda, noted that the benefit addresses low penetration rates of motor comprehensive insurance in Uganda. According to the Insurance Regulatory Authority of Uganda, only approximately 15% of insured vehicles currently have comprehensive coverage, leaving many motorists financially vulnerable to accidents or unforeseen events.