Liberty Uganda scooped two awards at this year’s Financial Reporting (FIRE) Awards at Hotel Africana.
Liberty Life Assurance Uganda emerged as the Winner, while Liberty General Insurance Uganda came up as the 1st Runner Insurance Service.
The FIRE Awards, organized by the Institute of Public Certified Accountants Uganda, is an annual ceremony through which excellence in financial reporting is recognized and rewarded.
Organizations in the private, public and non-profit sectors submit their annual reports for the year under review, and the best performers are rewarded based on their compliance with International Financial Reporting Standards and other best practices in reporting.
This year’s awards were held under the theme: Corporate Reporting, Strengthening Environmental, Social and Governance Reporting.
Speaking at the event, The Minister of State for Finance Planning and Economic Development, CPA Henry Musasizi, who was the Chief Guest, said that giving these awards is one way to enhance the quality of Financial and business reporting in Uganda because it encourages the implementation of International Financial Reporting Standards and Best practices.
Organizers said that reports were well-designed, easy to navigate, and made good use of icons to enable the reader to make the necessary links between the various content elements.
The report layout, summaries and highlights provided useful context for the detailed information presented in the report.
Commenting about the milestone, the Managing director of Liberty Life Assurance Uganda, Joseph Almeida, said, “These awards are a testament to our international standards in financial reporting. We thank the judges for selecting us as the winners of these awards. We dedicate this award to our customers and staff, without whom we would have nothing to report about”.
Liberty General Insurance Managing Director Peter Makhanu said, “It’s motivation on our side to ensure that next time we emerge on the very top, but we are also honored for winning an award.”
According to the organizers, all entities presented a special integrated report and demonstrated a high level of adherence to the guiding principles and content elements of the integrated reporting framework.
ABOUT LIBERTY INSURANCE UGANDA:
Liberty was founded in 1957 by Sir Donald Gordon who watched his father work hard all his life yet reap little financial reward for his efforts. This struggle ignited in him the overwhelming belief that all people should have the opportunity to grow their wealth and leave a proud legacy for their family. This belief is captured in our name and our flame, taken from the Statue of Liberty and imbued with the same meaning of freedom and opportunity.
Nearly 60 years later, and with a presence in 18 African countries, we have grown from being a South African life insurer to a pan-African financial services company, offering asset management, investment, insurance and health products to 3.2 million people across Africa.
In Uganda, Liberty has over 10 years of exceptional customer service experience, offering comprehensive financial services suite, built to comprehensively meet our customers’ needs at every step of their life journey. We offer a comprehensive range of short or long-term insurance products, value-added services, health solutions, retirement income facilitation, and investment and lifestyle risk solutions for both the retail and corporate markets.
Liberty Life has been in operation for 14 years and is known to be Uganda’s largest life insurer. Liberty acquired East African Underwriters in February 2016 now called Liberty General Insurance to extend short term products offering non -life insurance services.