Banking & Financial ServicesThe Big Story

IRA approves AAR General Insurance to join Uganda’s competitive non-life market AAR moves from HMO dominance into Uganda’s largest insurance class, a strategic push that must balance distribution muscle with actuarial discipline, treaty reinsurance and strict IRA oversight.

A photo collage of IRA CEO, Alhaj Dr. Kaddunabbi Ibrahim Lubega and AAR General Insurance MD, Nassuna Christine.

The Insurance Regulatory Authority of Uganda has given the green light for AAR General Insurance Uganda Limited to write non-life business in the country, formalising a move the AAR Group has long telegraphed: a strategic shift from being primarily a dominant health membership organisation. The approval, which comes amid a year of intense supervisory change and an industry reset, places AAR squarely in a non-life sector that is large, concentrated and claims-intensive, and in which incumbents were already spending heavily mid-year to defend and expand market share.  AAR’s entry is not being attempted from scratch. The IRA’s market report shows…

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About the Author

Paul Murungi is a Ugandan Business Journalist with extensive financial journalism training from institutions in South Africa, London (UK), Ghana, Tanzania, and Uganda. His coverage focuses on groundbreaking stories across the East African region with a focus on ICT, Energy, Oil and Gas, Mining, Companies, Capital and Financial markets, and the General Economy.

His body of work has contributed to policy change in private and public companies.

Paul has so far won five continental awards at the Sanlam Group Awards for Excellence in Financial Journalism in Johannesburg, South Africa, and several Uganda national journalism awards for his articles on business and technology at the ACME Awards.

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