Uganda’s insurance industry recorded UGX 1.016 trillion in gross written premium (GWP) for the first half of 2025, an 8.78% increase from UGX 933.76 billion in the same period of 2024, according to the latest Insurance Regulatory Authority (IRA) data.
Life insurance outperformed non-life, expanding 12.55% to UGX 402.71 billion, compared to non-life’s marginal growth 5.59% growth to UGX 572.60 billion.
Health Management Organizations (HMOs) grew 15.76% to UGX 38.28 billion, while microinsurance surged 242.70%, albeit from a small base, to UGX 2.10 billion.
| Category | Leader | Gross Written Premium (UGX ‘000) | Market Share (%) |
|---|---|---|---|
| Non-Life | UAP General | 123,369,350 | 21.50 |
| Life | Prudential | 115,850,582 | 28.80 |
| HMO | AAR Health Services | 22,655,034 | 59.18 |
| Microinsurance | Turaco | 927,415 | 44.10 |
| Reinsurance | Uganda Re | 63,771,253 | N/A |
Prudential Narrows the Gap with UAP General
UAP General remains the largest single insurer in Uganda with UGX 123.37 billion in GWP (21.5% share of the non-life market).
However, Prudential, the life market leader, is closing the gap fast—posting UGX 115.85 billion in GWP (28.8% share of life premiums).
While UAP General dominates policy numbers with over 81,000 policies, Prudential’s premium base continues to grow strongly, supported by disciplined claims management, reflected in a 36.05% loss ratio—well below several peers.
| Rank | Company | GWP (UGX ‘000) | Market Share (%) |
|---|---|---|---|
| 1 | UAP General | 123,369,350 | 21.50 |
| 2 | Jubilee Health | 58,805,543 | 10.30 |
| 3 | Jubilee Allianz | 51,472,751 | 9.00 |
| 4 | Sanlam General | 69,428,676 | 12.10 |
| 5 | Britam | 51,970,258 | 9.10 |
Non-life insurers collectively wrote 234,689 policies. Jubilee Health was the second-largest by premium volume at UGX 58.81 billion (10.3% share), followed by Jubilee Allianz at UGX 51.47 billion (9.0% share).
The average non-life loss ratio stood at 37.13%, but medical insurance lines remain under pressure—Jubilee Health posted a 91.10% loss ratio, indicating high claims costs in the segment.
Life Insurance: Prudential Leads, ICEA Lion and Jubilee Life in Pursuit
Top 5 Life Insurers – Q2 2025
| Rank | Company | GWP (UGX ‘000) | Market Share (%) |
|---|---|---|---|
| 1 | Prudential | 115,850,582 | 28.80 |
| 2 | ICEA Lion Life | 78,406,906 | 19.50 |
| 3 | Jubilee Life | 62,744,395 | 15.60 |
| 4 | Old Mutual Life | 57,297,882 | 14.20 |
| 5 | Liberty Life | 42,417,659 | 10.50 |
The segment’s overall loss ratio was 51.38%, with Prudential maintaining healthier ratios compared to Jubilee Life’s 76.20%, signaling stronger underwriting discipline. Life insurers managed 144,703 active policies by mid-year.
HMO and Microinsurance: Niche Segments on the Rise
Tribunal Backs URA in UGX 10.2 Billion Century Bottling Tax FightTop 2 HMO Providers – Q2 2025
| Rank | Company | GWP (UGX ‘000) | Market Share (%) |
|---|---|---|---|
| 1 | AAR Health Services | 22,655,034 | 59.18 |
| 2 | Case Med Care | 15,628,888 | 40.82 |
Top 4 Microinsurance Providers – Q2 2025
| Rank | Company | GWP (UGX ‘000) | Market Share (%) |
|---|---|---|---|
| 1 | Turaco | 927,415 | 44.10 |
| 2 | Padre Pio | 709,747 | 33.80 |
| 3 | GMI | 407,123 | 19.40 |
| 4 | Edge Micro | 56,700 | 2.70 |
HMOs accounted for 3.77% of total market premiums, led by AAR Health Services (UGX 22.66 billion) and Case Med Care (UGX 15.63 billion).
Microinsurance grew sharply, with Turaco writing UGX 927.4 million and Padre Pio UGX 709.7 million, reflecting greater penetration into underserved markets.
Reinsurance: Uganda Re Dominates Local Premiums
Top 2 Reinsurers – Q2 2025
| Rank | Company | GWP (UGX ‘000) |
|---|---|---|
| 1 | Uganda Re | 63,771,253 |
| 2 | Kenya Re | 13,662,076 |
Uganda Reinsurance posted UGX 63.77 billion in premiums, dwarfing Kenya Re’s UGX 13.66 billion. Retention ratios stood at 62.61% for Uganda Re and 97.47% for Kenya Re. Loss ratios were moderate—33.67% for Uganda Re and 44.18% for Kenya Re.
Outlook: Life Sector Set to Challenge Non-Life Leadership
With Prudential narrowing the premium gap on UAP General, the second half of 2025 could see a shift in market leadership for the first time in years.
Life insurance growth continues to outpace non-life, and the rapid expansion of HMOs and microinsurance signals strong potential in health and inclusive insurance markets.
If the current growth trajectory holds, Uganda’s insurance industry could surpass UGX 2 trillion in annual premiums within three years, cementing its status as one of East Africa’s fastest-growing markets.
