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Overview of Bancassurance

Bancassurance service involves selling of insurance products through our branch network and other platforms. Basically, it is an arrangement between Centenary Bank and insurance companies to sell insurance services to our customers.

The concept of bancassurance was coined in the Ugandan market at the backdrop of the amendments to the Financial Institution Act,2004 in 2006 and, enactment of the Insurance Act, 2017 in which (Bancassurance) is considered as one of the services that can be offered by supervised financial institutions

Who is a Bancassurance Agent?

A Bancassurance agent is a duly licensed bank by the Insurance Regulatory Authority of Uganda to conduct bancassurance business. In this context, Centenary Bank is duly licensed to offer insurance services on behalf of Insurance companies.  


Bancassurance value proposition for Centenary Bank Customers

      ·      Access to customized and yet affordable insurance products

·      Reduced risk to family/business due to various insurance products that can increase social protection

·      Convenient access to a one-stop-shop where banking and insurance services are provided under one roof

·      Securing of insurance from trusted insurance providers given the rigorous process we go through to vet insurance partners

·      Simplified premium payment methods

·      Technical and moral support in claims process


Characteristics of Bancassurance insurance products

·      Simple products i.e. auto rated and mass products


·      Easy for the bank customers to understand and focus is on ordinary needs


·      Simple pricing structure to facilitate the selling process i.e. affordability


Available insurance products under Bancassurance  

      ·      Medical Insurance

·      Life insurance Individual/ Group

·      Education

·      Savings Products

·      Funeral

·      Hospital Cash

·      Motor Polices (MTC and MTP)

·      Domestic packages (House and Homeowners’ polices)

·      Business combined policy for business persons, that combines fire, burglary, money, goods in transit, marine, liability insurance in one package – SME

·      Travel Insurance

·      Personal Accident/Group Personal Accident

·      Wallet Guard

·      ATM Assault


Current Insurance Partners

General Insurance Providers

Life Insurance Providers 

Microinsurance Providers

PAX Insurance


Grand Microinsurance


Prudential Assurance

Edge Microinsurance

Jubilee GI

Jubilee Life





CIC Africa GI

CIC Africa Life




















Gold Star





For further inquiry,

Please visit your nearest branch.
P. O. BOX 1892 Kampala, UGANDA
Toll-free: 0800 200 555
Email: info@centenarybank.co.ug