Old Mutual Holdings

The Group's origins in Kenya date back to the 1920s when Provincial Insurance Company of East Africa was incorporated as a subsidiary of Provincial Insurance Company, an insurance group based in London, United Kingdom. The 1994 merger of {{Interlanguage link multi|Union des Assurances de Paris|fr|3=Union des assurances de Paris|WD=}} (UAP) of France and Provincial of the UK led to the formation of the UAP Insurance Company of Kenya. In 1996, the firm became part of Axa when Axa acquired UAP in France. Axa divested its shareholding in 2000 and the firm became a wholly owned Kenyan company.{{cite web | url=http://www.uap-group.com/index.php?id=77 | title=About UAP: History | date=2014 | access-date=31 December 2014 | publisher=UAP Holdings (UAPH) | last=UAPH}}

UAP Holdings expanded to Uganda in 2005, to South Sudan in 2006, to Rwanda and the Democratic Republic of the Congo in 2011, and to Tanzania in 2013. All entries other than Tanzania were greenfield investments. The group entered Tanzania through the acquisition of Century Insurance Company Limited and re-branded it to UAP Century Insurance Company Limited.{{cite web | last=UAPH | url=http://www.uap-group.com/index.php?id=87&tx_mininews_pi1%5BshowUid%5D=19&cHash=0db0d75100 | title=UAP Enters Tanzania Market | date=6 June 2006 | access-date=31 December 2014 | publisher=UAP Holdings (UAPH)}} In total, UAP has sixteen businesses operating in the region.{{cite web | last=UAPH | url=http://www.uap-group.com/fileadmin/user_upload/Documents/Media_news/2013_Results_Presentation_-_Final.pdf | format=PDF | title=UAP Holdings 2013 Annual Review | date=31 December 2013 | access-date=31 December 2014 |

publisher=UAP Holdings (UAPH)}}

On 8 January 2015, Centum and Chris Kirubi announced that they had entered into an agreement with Old Mutual for the sale of their 13.75 per cent and 9.58 per cent stake in UAP Holdings, respectively, to the London Stock Exchange-listed financial giant in a deal valued at over KSh 7 billion.{{cite web | date=9 January 2015 |

url=http://www.businessdailyafrica.com/Kirubi-earns-Sh2-8bn-in-sale-of-UAP-shares-to-Old-Mutual-/-/539552/2582942/-/xr2tpmz/-/index.html | title=Kirubi earns Sh2.8 billion from sale of UAP Holdings stake | access-date=9 January 2015 | newspaper=Business Daily Africa | location=Nairobi | last=Juma | first=Victor}} Once complete, Old Mutual will hold 23.33 per cent of UAP Holdings-issued shares and will act as a strategic investor to the group.{{cite web | url = http://www.centum.co.ke/index.php/centum-news/item/119-sale-of-shares-in-uap-holdings-limited-by-centum-investment-company-limited-and-a-related-party | title=Sale of Shares in UAP Holdings Limited by Centum Investment Company Limited and a Related Party | date=8 January 2015 | access-date=9 January 2015| publisher= Centum Investment Company Limited}} On 27 January 2015, Kenyan print media reported that Old Mutual had acquired the shares in UAP Holdings previously owned by Abraaj, Africinvest, and Swedfund, amounting to 37.33 per cent of total shareholding, for US$155.5 million (KSh 14.2 billion), thereby raising Old Mutual's ownership in UAP Holdings to 60.66 per cent.{{cite web |

url=http://www.businessdailyafrica.com/Corporate-News/Old-Mutual-raises-stake-in-UAP-after-Sh14bn-buyout-/-/539550/2603170/-/1276u88z/-/index.html | title=Old Mutual raises stake in UAP after Sh14bn buyout | date=27 January 2015 |

access-date=27 January 2015 | first=Victor | last=Juma |

newspaper=Business Daily Africa (Nairobi)}}

In June 2015, shareholders of UAP Holdings agreed to merge with the parent company's other businesses in Kenya, to create a single entity that is referred to as UAP-Old Mutual Group. The combined company is expected to list its shares on the Nairobi Securities Exchange.{{cite web | access-date=1 July 2015 | url=http://www.businessdailyafrica.com/Corporate-News/UAP-Holdings--Old-Mutual-merger-firm-to-list-on-NSE/-/539550/2761270/-/15rpwsr/-/index.html | title=UAP Holdings, Old Mutual merger firm to list on NSE | newspaper=Business Daily Africa | location=Nairobi | date=22 June 2015 | first=John | last=Gachiri}} In June 2015, Peter Mwangi was appointed chief executive officer of the UAP-Old Mutual Group.{{cite web | last=Juma | first=Victor | url=http://www.businessdailyafrica.com/Corporate-News/Former-NSE-chief-Mwangi-to-head-UAP-Old-Mutual/-/539550/2770844/-/13i1vqk/-/index.html | access-date=1 July 2015 | date=30 June 2015 |newspaper=Business Daily Africa | location=Nairobi | title=Former NSE chief Mwangi to head UAP-Old Mutual}} In April 2020, Arthur Oginga took over as CEO. Joe B. Wanjui, the former chairman of UAP Holdings, will assume the role of chairman of the new UAP Old Mutual Group.{{cite web | first=Victor | last=Juma | date=3 July 2015 |location=Nairobi | url=http://www.businessdailyafrica.com/Corporate-News/Old-Mutual-snub-returns-to-haunt-UAP-chief-executive/-/539550/2773314/-/item/0/-/ns3mj6/-/index.html | newspaper=Business Daily Africa | title=Old Mutual snub returns to haunt UAP chief executive | access-date=3 July 2015}}{{cite news |url=https://www.businessdailyafrica.com/bd/markets/uap-life-loss-eats-into-old-mutual-capital-injection--2101526 |title=UAP Life loss eats into Old Mutual capital injection |date=November 19, 2015 |publisher=Business Daily Africa}}

The companies that comprise the Old Mutual Holdings include, but are not limited, to the following:{{Cite web | url=http://www.uapkenya.com/fileadmin/user_upload/Documents/UAP_Holdings_2012_Financial_Statements.pdf | title=UAP Holdings Limited 2012 Annual Report | date=31 December 2012 | access-date=31 December 2014 | publisher=UAP Holdings Limited | page=94}}{{Cite web | url=http://www.uap-group.com/po/images/abridged.pdf | title=UAP Holdings Limited - Abridged Prospectus for Public Offer | date=2012-11-07 | access-date=31 December 2014 | publisher=UAP Holdings Limited | page=6}}

1. UAP Insurance Company Limited – Nairobi, Kenya – 100% Shareholding – The flagship company of the group. Offering general insurance.
2. UAP Life Assurance Limited – Nairobi, Kenya – 100% shareholding – Offering life insurance.
3. UAP Insurance Uganda Limited – Kampala, Uganda – 53% shareholding – Offering general insurance.
4. UAP Life Assurance Uganda Limited – Kampala, Uganda – 53% shareholding – Offering life insurance.{{cite web | url=http://www.ira.go.ug/insurers.html | title=List of Licensed Insurance Companies In Uganda | access-date=26 January 2015 | date=January 2015 | last=IRAU | publisher=Insurance Regulatory Authority of Uganda (IRAU) | archive-date=28 January 2015 | archive-url=https://web.archive.org/web/20150128055047/http://www.ira.go.ug/insurers.html | url-status=dead }}
5. UAP Insurance South Sudan Limited – Juba, South Sudan – 100% shareholding – Offering general and life Insurance.
6. UAP Financial Services Kenya Limited – Nairobi, Kenya – 100% shareholding – Offering financial services, investment management, Investment advisory, and brokerage services.
7. UAP Financial Services Uganda Limited – Kampala, Uganda – 89% shareholding – Offering financial services, investment management, advisory and brokerage services.
8. UAP Investments – Nairobi, Kenya – 100% shareholding – Offering unit trusts and pension services.
9. UAP Properties Uganda Limited – Kampala, Uganda – 79% shareholding – real estate.
10. UAP Properties Kenya Limited – Nairobi, Kenya – 100% shareholding – real estate.
11. UAP Properties South Sudan Limited – Juba, South Sudan – 70% shareholding – real estate.
12. UAP Brokers – Kinshasa, Democratic Republic of Congo – Offering brokerage services.
13. Union Life Rwanda Ltd – Kigali, Rwanda – 100% shareholding – Offering life insurance.
14. Union Insurance Rwanda Ltd – Kigali, Rwanda – 100% shareholding – Offering general insurance.
15. UAP Century Insurance Company Limited – Dar es Salaam, Tanzania, – 60% shareholding – Offering general and life insurance.
16. UAP Africa Limited – Port Louis, Mauritius – 100% shareholding – Holding company for insurance businesses.
17. UAP Investments – Port Louis, Mauritius – 100% shareholding – Holding company for advisory financial service businesses.
18. UAP Properties – Port Louis, Mauritius – 100% shareholding – Holding company for real estate businesses.
19. UAP Global Services – Port Louis, Mauritius – 100% shareholding – Dormant.
20. UAP Credit Services – Port Louis, Mauritius – 100% shareholding – Dormant.

The shares of Old Mutual Holdings are traded over the counter at Dyer & Blair Investment Bank pending future listing on the Nairobi Securities Exchange.{{cite web | last=Gichane | first=Charles | url=http://www.capitalfm.co.ke/business/2013/01/uap-begins-trading-of-new-shares | title=UAP begins trading of new shares | date=9 January 2013 | access-date=31 December 2014 | publisher=98.4 Capital FM}} {{asof|2018|September}} the shareholding of Old Mutual Holdings is expected to look as depicted in the table below:{{cite web| url=https://www.businessdailyafrica.com/corporate/companies/Wanjui--Muguiyi-to-pocket-Sh3-1bn-in-UAP-share-sale/4003102-4726154-cskgar/index.html |title=Wanjui, Muguiyi to pocket Sh3.1bn in UAP share sale |date=23 August 2018 |access-date=25 August 2018 |newspaper=Business Daily Africa |

last=Munda |first=Constant |location=Nairobi}}

1 - These are subsidiaries of Old Mutual of South Africa. This gives Old Mutual 66.67% control of UAP Holdings.

{{Main article|UAP Tower}}

UAP Holding opened UAP Old Mutual Tower, a 33-storey office complex in Nairobi's Upper Hill district.{{Cite web | url=http://uaptower.com/about-uap-tower | archive-url=https://web.archive.org/web/20150212163002/http://uaptower.com/about-uap-tower/ | url-status=usurped | archive-date=12 February 2015 | title=About UAP Tower | date =26 June 2014 | access-date=2 September 2015 | publisher=UAP Holdings}} UAP Tower is set to becoming the tallest structure in eastern and central Africa upon its completion in 2015.{{Cite web | publisher = Construction Kenya |access-date=2 September 2015|

url = http://www.constructionkenya.com/2712/uap-tower-upper-hill-nairobi | title=UAP Tower soars into Nairobi's skyline | date=26 June 2014 | last=Andeso | first=Albert}}

• Old Mutual
• Nairobi Stock Exchange
• Uganda Securities Exchange
• List of Insurance companies in Kenya
• List of insurance companies in Uganda

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Category:Companies based in Nairobi

Category:Insurance companies of Kenya

Category:Financial services companies established in 1920

Category:1920 establishments in Kenya

Category:Asset management companies