Insurance Company of East Africa (ICEA) was established in 1964 by Eagle Star Insurance Company and Welfare Insurance Company from the UK, as well as the New Zealand Insurance Company. In 1976, the company’s foreign shareholders sold their interests to a group of pioneering local investors, making ICEA the first major locally owned insurance company.
They soon emerged as one of the largest insurers in the region and also established a fund management subsidiary (ICEA LION Asset Management Limited Kenya and ICEA Asset Management Limited Uganda), as well as a trusteeship/scheme Administration (ICEA Trustee Services Limited in Kenya).
In 1999, ICEA Uganda was incorporated 0n the 5th of August, licensed to provide both short term (General) and long term (life and pensions) insurance businesses on 10th May 2000. In 2014, ICEA Uganda devolved into 3 specialized businesses to not only allow each enterprise to focus on its core competence, but more importantly to ensure we can serve the market, with its dynamic and divergent needs even better.
The 3 companies that form ICEA Group in Uganda include ICEA General Insurance, ICEA Life Assurance and ICEA Asset Management.