Olea Insurance Solutions Expands in Uganda

Olea Insurance Solutions, a Pan-African insurance broker, has made a significant move in Uganda by acquiring Marsh Insurance. This acquisition marks an important milestone in Uganda’s rapidly growing insurance market, and it signals Olea’s continued expansion in East Africa.

Olea Uganda’s Launch and New Leadership

Olea Uganda officially launched at an event held at Sheraton Hotel in Kampala on Friday. During the function, the company introduced its new leadership to regulators, insurers, corporate clients, and development partners. Fiona Magezi, former Head of Client Servicing at Marsh Uganda, was appointed as the Managing Director of Olea Uganda. Meanwhile, Paul Muhame transitioned from Managing Director to Chairman of the Board.

Magezi, in her first address as Managing Director, expressed her excitement about the opportunity and her commitment to leading Olea Uganda toward growth. “In December 2025, I assumed the role of Managing Director of Olea Uganda, having served in various capacities at Marsh Uganda,” she shared. “I thank my former board representatives at Marsh Uganda for their guidance during my time there. That period was my grooming, and I never imagined it would lead me to this role.”

Magezi emphasized that her leadership would focus on growth, resilience, and client-centered solutions. “I want to leave a legacy of growth, resilience, and opportunity, making Olea Uganda a strong, thriving presence that positively impacts both our clients and the community,” she said.

Olea’s Growing East African Footprint

Magezi also highlighted Olea’s expanding presence in East Africa. “What truly differentiates us is the combination of global expertise, local insights, and a wealth of experience,” she stated. “We aim to build the Olea Uganda brand by being the broker that understands your business and grows with you.”

Olea Uganda’s Milestone and Future Growth

Olea Uganda’s launch coincides with the company’s ninth anniversary. Board Chairman Paul Muhame marked this historic occasion by thanking Olea’s global leadership for entrusting him with the chairmanship. He also expressed confidence in Magezi’s leadership, praising her unique style. “I know Fiona well, and I admire her tough approach when it comes to chasing client claims. She’s called ‘Fiona Magazine’ for a reason,” Muhame said.

He also noted that Olea’s strength lies in its client-driven service. “Our company thrives due to our discipline, vision, and our focus on meeting client needs. We ensure the right price, right cover, and claims payment — all without extra cost,” he added.

Support for Uganda’s Insurance Sector

Alhaji Ibrahim Kaddunabbi Lubega, the CEO of the Insurance Regulatory Authority of Uganda, praised the transition from Marsh to Olea as a step toward growth for Uganda’s insurance sector. “This event is symbolic and strategic, signaling continuity and deliberate positioning for growth in Uganda’s insurance market,” he stated.

Lubega highlighted the country’s large-scale investments in oil, gas, infrastructure, and agriculture, which create opportunities for brokers like Olea. He also emphasized the growing importance of agricultural insurance in Uganda. “We’ve disbursed over Shs 40 billion to farmers affected by losses, and we expect brokers to expand affordable agricultural insurance solutions.”

Olea’s Pan-African Reach and Technology

Vincent de Charnacé, Olea’s CEO for East and Southern Africa, emphasized the company’s wide continental reach. “Olea is present in 26 countries across Africa. No other broker has such a footprint,” he said.

He also discussed the company’s advanced technology, which allows clients to access real-time, transparent data across borders. “We’ve deployed the same system across the continent, so clients can access consolidated data in real time,” de Charnacé explained.

De Charnacé mentioned that the Marsh-Olea merger was built on trust. “Marsh has been a long-time, trustful partner. They approached us, wanting to exit some countries and asked if we could take over. That demonstrated great confidence in Olea.”

“Olea is now the second-largest broker in Uganda for the private sector. With Fiona’s leadership, I’m confident we will soon be number one,” he concluded.

Olea’s Regional Presence

Founded in 2017, Olea operates in 26 countries across Africa, with subsidiaries in Côte d’Ivoire, Benin, Cameroon, Mali, Uganda, Kenya, Rwanda, Tanzania, Zambia, Angola, Mozambique, South Africa, Algeria, Burkina Faso, Central African Republic, Chad, Congo, Gabon, Guinea, Morocco, Niger, Senegal, Sierra Leone, and Tunisia. The company has regional hubs in Abidjan, Nairobi, and Johannesburg.

Olea provides services to companies investing in Africa and international brokers without a presence on the continent. Its offerings include both life and non-life insurance, covering areas such as property, health, motor, transport, cyber, fraud, civil liability, political violence, terrorism, and construction.

Olea’s expansion into Uganda, combined with its wide regional presence, positions the company to continue growing in Africa’s insurance market. As it reinvests in key areas, Olea aims to strengthen its presence and deliver exceptional service to clients across the continent.