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How Clarkson Insurance Brokers rose from the bottom to the industry’s No.1 player in 16 years

December 28, 2020December 28, 2020

THE CLARKSON WINNING TEAM― (LEFT-RIGHT) Charles Muhoozi, Chief Executive Officer; Alex Mataka, General Manager; Angela Babirye, Operations Manager and Arnold Baguma, Business Development Manager. Under the leadership of Mr. Muhoozi, Clarkson’s revenues, which is reflective of insurance business placed, has grown 63 times (6233%) from UGX111.2 million in 2011 to UGX7 billion in 2019, curving out a 16.2% market share in a market of 40 players.

This October, the Insurance Regulatory Authority (IRA) released its much-awaited 2019 Annual Performance Report for the insurance sector. The report, details the performance, of the country’s 21 non-life insurance companies; 9 life insurance companies; 1 micro-insurance company and 5 Health Membership Organisations (HMOs). In the year 2019, Gross Written Premiums (GWP) for the industry increased from UGX859.9 bn in 2018 to UGX974.42bn- a 13.32 percent growth. Non-life business generated UGX621.69bn in GWP (up from UGX 572.79bn in 2018) representing an 8.54 per cent growth while life insurance business generated UGX276.32bn in GWP (up from UGX 217.97bn in 2018) representing a…

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