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The insurance sector has continued to be pivotal in the financial sector. However, it is largely dominated by a few companies with the largest share of premiums written by just 10 companies for both non-life and life insurance. Under non-life, at least 58.9% of premiums are generated by five companies, while another five generate more than 88.5% of life premiums, according to data from the Insurance Regulatory Authority (IRA). IRA Market Performance Report for the three months to December 2024 indicates that the insurance sector has about 31 companies, of which 20 are non-life, while eight and three are life…
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Hardly two years after arriving in Uganda to take up her very first CEO role at Uganda’s largest telco, MTN Uganda, Sylvia Mulinge has emerged as Uganda’s most admired CEO, in the CEO East Africa Magazine’s inaugural 100 Leading & Most Admired CEOs In Uganda Survey. The 2-in-1 CEO East Africa Magazine’s Most Trusted and Respected Companies & The Most Admired CEOs in Uganda Survey 2024 is part of the magazine’s thought leadership agenda that seeks to create a body of knowledge on what exactly great companies and great leaders are made of, as well as recognise them. “This, we…
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ICEA LION Life Assurance Company (U) Ltd has unveiled the ICEA Annuity Plan for retirees and those nearing retirement. The ICEA Annuity plan guarantees the holder a regular stream of income for life after retirement. The ICEA Annuity plan allows the holder to make a lump sum deposit with the promise of guaranteed regular payments for the rest of one’s life. “Typically, retirement benefits are provided through lump-sum payouts by retirement benefit schemes like NSSF and others. It’s commonplace to find retirees unable to sustain themselves because they invested in ventures that cannot guarantee a regular income during retirement. This…
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