Old Mutual East Africa Group is a leading provider of comprehensive financial services, including insurance, investment, banking, and savings solutions.
Formed in 2015 following the acquisition of Faulu Microfinance Bank in 2014 and Old Mutual Holdings PLC in 2015, their roots in Kenya date back over 100 years.
The company operations span across Kenya, Uganda, South Sudan, and Rwanda, where we offer a wide range of financial services through an integrated business model.
They manage a Ksh20 billion property portfolio that includes iconic buildings such as Equatoria Tower (South Sudan), Nakawa Business Park (Uganda), and Old Mutual Tower (Kenya).
Old Mutual Life Assurance Company Limited (OMLAC) announced plans to transfer its long-term life insurance business to Old Mutual Life Assurance Kenya Ltd (OMLAK), subject to Insurance Regulatory Authority (IRA) approval.
According to a public notice issued on July 8, under the Transfer of Businesses Act (Chapter 500, Laws of Kenya), the transfer will occur once the specific conditions outlined in a business transfer agreement between the two companies are fulfilled.
Accidental Death Cover
They describe an accidental death cover as an external, unexpected event that is not traceable, even indirectly, to the life assured’s state of mental or physical health before the event.
The cover also provides financial security to loved ones during such a difficult time.
What the cover entails
- You can pay a minimum premium of Ksh1,000
- The minimum term of the cover is 10 years, and the maximum term is until the client turns 65 years
- A premium waiver on disability and/or death where the payer is different from the life assured
- Your loved ones will receive a lump sum amount to cater for their well-being in your absence
- The minimum cover limit is Ksh 200,000, and a maximum of Ksh 15 million
- The cover entitles you to insurance tax relief worth 15% of your premium contribution
Motor Commercial Own Goods Insurance
This insurance product safeguards vehicles against theft and damages resulting from accidents, fires and natural disasters while ferrying the insured’s goods and products.
There are also extensions of passenger covers while in the cabin.
The insurance covers;
- Protection against Theft
- Protection against Theft and Fire damage
- Protection against accidental damage to the vehicle
- Third-party liabilities cover
Old Mutual Physical Impairment Cover
It helps those who seek to be insured to live their life even after physical impairment with a cover that pays out if the assured becomes permanently physically impaired and survives within the benefit term.
Premiums to be paid include;
- You can pay a minimum premium of Ksh1,000
- The minimum term of the cover is 10 years, and the maximum term is until the client turns 65 years
- A premium waiver on disability and/or death where the payer is different from the life assured
- The cover entitles you to insurance tax relief worth 15% of your premium contribution
Home Insurance
Their home Insurance package is a comprehensive insurance package that ensures peace of mind in the comfort of your home.
They compensate for loss or damage to your building and its contents.
What’s in it for you?
- Cover for domestic workers against bodily injury by accident
- Cover for disease arising out of and in the course of employment
- Costs arising from legal liabilities due to accidental bodily injuries and loss or damage to property are also covered
- All Risks Cover – This provides cover against loss of or damage to items that you normally use outside your house, such as a mobile phone, a laptop, and jewellery
Motor Private Insurance Cover
This policy covers vehicles against loss or damage, including riots and strikes as well as third-party liabilities anywhere in East Africa.
What it covers;
- Comprehensive Cover – This cover safeguards you against losses and/or damages to your vehicle brought about by accidents, accidental fires, or theft. It similarly covers a third party’s death or bodily injury
- Third-party Fire and Theft – This package shields you against all third-party risks, including death, bodily injuries, and/or property damage.
- Losses and/or damage to your vehicle caused by theft and fire are also covered under this package
- Third-party Only (TPO) – This cover only protects you against third-party losses, including death, bodily injuries and/or property damage
SME Health Cover
The SME Health Cover is designed to meet the Health Insurance needs of SMEs by catering for medical expenses incurred by the insured members and their dependents for either inpatient or outpatient cases.
It also caters for maternity, dental and optical expenses.
Benefits of the cover;
- Flexibility of Cover – Various Plans are available to choose from and combine under this cover
- Personal Accident Cover – This covers loss of life and permanent disablement of the insured due to an accident
- No waiting periods – Get treated sooner by going to a private hospital
- Hospital Cash- Get cash payments for stays in the hospital for 5 or more days
- Volume Discounts– Bigger groups will enjoy discounts on their premiums
- Flexibility on No. of employees – The cover can cater for as few as three employees to a maximum of 100
- Critical illness covers options – Members can now opt to purchase a critical illness cover with a cash pay-out of Ksh750,000 for specific newly diagnosed critical illnesses. These illnesses are cancer, stroke, heart attack, renal/kidney failure, and paralysis.
Whole Life
Whole Life Assurance Cover pays a lump sum of the sum assured to the beneficiaries in the event the life assured passes on through natural causes or accident.
The cover provides financial protection and security for the people you love.
What’s in it for you?
- You can get a minimum cover of Ksh 1 million; there is no maximum cover limit
- Your loved ones will receive a lump sum amount to cater for their well-being in your absence
- A premium waiver on disability and/or death where the payer is different from the life assured
- You will also be able to select the affordable premium amount, dependent on the desired cover limit
- Premium payment payable until the age of 80 years
- The cover entitles you to insurance tax relief worth 15% of your premium contribution
Also Read: Jubilee Insurance Company: History, Branches, Premiums, and Packages Offered
Travel Insurance
It provides compensation relating to medical & other emergencies whilst travelling in or out of the country.
Other emergencies may include Travel Delay, Repatriation of Travel Companion, and legal Expenses, among many others.
It also covers Pandemic as declared by WHO on Cancellation and Curtailment, Medical Expenses, Medical Evacuation or repatriation
What’s in it for you?
This policy provides cover against medical expenses related to illness or injuries, including hospital and doctor’s costs, prescription medication, surgery, evacuation, and repatriation.
They will cover the following:
- Personal Accident Insurance covers the event of death or permanent total disability following an accident. Medical expenses following an accident are covered under the medical section
- Personal Liability in a case where the insured becomes legally liable for accidental death, bodily injury, or illness of any person or loss or damage to property
- Journey Cancellation-Cover for non-refundable in case the insured must cancel the journey because of illness, injury, or death
- Cover for nonrefundable and additional payments incurred to return home because of illness, injury, or death
- Cover Pandemic as declared by WHO on Cancellation and Curtailment, Medical Expenses, Medical Evacuation, or repatriation
Also Read: ICEA Lion Life Insurance Company: History, Branches, Premiums and Packages Offered
Old Mutual Branches and Offices
| Branch/Office | Location |
|---|---|
| Old Mutual – Mamlaka Rd | Shelter-Afrique House, Mamlaka Road |
| Old Mutual Life Assurance Co Ltd | UAP Old Mutual Tower, Kilimani Upper Hill Rd |
| The Old Mutual – Kimathi St | Old Mutual Building, Kimathi Street |
| Old Mutual Customer Care | North |
| UAP Old Mutual | Ring Road Kilimani (PQ2Q+X45) |
| Old Mutual Investment Services (K) Ltd | UAP Old Mutual Tower, Kilimani Upper Hill Rd |
| Old Mutual Tower | Upper Hill Road |
| Old Mutual Building – Room 318 | Room 318, 3rd Floor, Old Mutual Bldg, Kimathi St |
| Old Mutual Alternative Investments | 2nd Floor, ICEA Lion Centre, Riverside Park |
| UAP Insurance – Head Office | Bishops Garden Tower, Bishop Road |
| UAP Insurance – Customer Care Center | Queensway House, Kaunda Street |
| KUSCCO Mutual Assurance | 1st Floor, KUSCCO Centre, Upper Hill |
| Old Mutual – Kiambu | Kiambu Town |
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