The Big Story

Policy covers generating the most income for insurance companies 

The Insurance Regulatory Authority boss, Alhaj Kaddunabi Ibrahim Lubega

Insurance gross written premiums grew by 12.04%, increasing by at least UGX 192.4 billion in the three months to December 2024.   Details contained in the Insurance Regulatory Authority (IRA) Market Performance Report show that gross written premiums rose from UGX 1.5 trillion in the same period in 2023 to UGX 1.7 trillion supported by considerable growth in microinsurance, Health Maintenance Organizations (HMOs) and life premiums.  During the period, microinsurance posted the largest share of growth of 67.4%, doubling gross written premiums from just UGX 888 million to UGX 1.4 billion, while premiums under HMOs grew by 24.01%, rising from UGX…

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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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