UT Life is a rapidly growing business with a strong local brand, offering quality, affordable insurance products to Ghana’s burgeoning mass market.
In less than 10 years, UT Life has become a leading provider of life insurance to emerging consumers. The award-winning firm is growing at 80% per year, owns significant market share in funeral and educational savings policies and was recently voted the Most Promising Life Insurance Company in Ghana’s Reinsurance Cedant Awards. UT Life was previously controlled by UT Holdings, a leading diversified Ghanaian holding company. UT Holdings remains a shareholder in the business and a strong local partner for growth.
“Our vision is to be the most innovative and affordable life insurer for the consumer mass market in Ghana,” says Kwaku Yeboah-Asuamah, CEO of UT Life. “We believe our partnership with LeapFrog will give wings to our growth plans and enable us to benefit from LeapFrog’s rich insurance expertise and knowledge.”
The ambitious firm aims to reach over 1 million people with insurance by 2020. With insurance penetration sitting at below 2% of GDP in Ghana, the opportunities for growth are boundless.
LeapFrog’s deep expertise in developing insurance products for emerging consumers and its track record of success in Ghana and life insurance will be used to help UT Life to soar to new levels of growth, profitability and impact.