They Don’t Insure Their Own Assets: Inside Uganda’s Insurance Dilemma and Mirai’s Bet on the Future Despite record growth and rising capital in Uganda’s insurance sector, public trust remains elusive. Most Ugandans still view insurance as an invisible promise rather than protection. Mirai General Insurance bets on technology, partnerships, and cultural change to rewrite that story — and prove the future can, indeed, be insured.

In Uganda, where insurance penetration remains below 1% of GDP, at 0.883% in 2024, according to the Insurance Regulatory Authority (IRA), the sector sits in a paradox. On paper, it is growing: gross written premiums rose by more than 10% in 2024 to UGX 1.76 trillion, and the number of licensed players increased to 143 companies in 2025. Mergers among major insurers, such as the April tie-up between Sanlam General and Jubilee Allianz, dominate headlines. The regulator has also tightened oversight, enforcing a 200% capital adequacy ratio that has compelled firms to strengthen their balance sheets. Yet for the average…