There are years when an industry grows quietly, and then there are years when it changes character. For Uganda’s insurance industry, 2025 was unmistakably a change of character. Viewed from…
Deepak Pandey is poised to make a return to the top of Uganda’s insurance industry after being lined up as Chief Executive Officer of the reorganised Jubilee Life Insurance, according to sources familiar with the matter. The development follows the recent restructuring of Jubilee’s life and health insurance operations in Uganda, which saw the consolidation of the businesses into a single entity aimed at improving operational efficiency, governance, and market competitiveness. People with knowledge of the discussions say the reorganisation created room for a leadership reset at the life insurance unit. Sources say Pandey’s comeback reflects renewed confidence by the…
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MUA Insurance has appointed seasoned insurance executive Nicholas Lutakome as its new Chief Executive Officer, marking a leadership transition aimed at accelerating growth and deepening the company’s footprint in Uganda’s increasingly competitive insurance market. Lutakome, who is currently the Chief Executive Officer of CIC General Insurance, will take over from Latimer Mukasa, who is set to retire on December 31, 2025, after more than eight years at MUA. Lutakome is expected to assume office on January 2, 2026. A trained actuary and transformation-focused leader, Lutakome brings over 18 years’ experience spanning life, non-life, and medical insurance, with deep exposure in…
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The newly merged SanlamAllianz Uganda has officially become the country’s second-largest general insurer. Market performance report for the 2025 third quarter by Insurance Regulatory Authority (IRA) shows that the merged entity, resulting from the union of Sanlam General and Jubilee Allianz, which was formally licensed in August 2025, has immediately reshaped the structure of Uganda’s non-life insurance market. IRA data shows that SanlamAllianz now holds 19.8% of the general insurance market, with UGX 173.33 billion in gross written premiums. This places it just behind long-time market leader Old Mutual, which posted UGX 185.88 billion and a 21.2% market share. As…
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Jubilee Holdings Limited has announced a major restructuring of its Ugandan operations following the approval of the Insurance Regulatory Authority of Uganda (IRA) to amalgamate its two subsidiaries—Jubilee Health Insurance Company of Uganda Limited (JHICU) and Jubilee Life Insurance Company of Uganda Limited (JLICU). Under the approved arrangement, the new business will operate under a single entity: Jubilee Life Insurance Company of Uganda Limited (JLICU). The decision, the company said, follows a comprehensive internal review of its Ugandan portfolio and is aimed at boosting efficiency, improving customer experience, and strengthening its market leadership position in one of East Africa’s fastest-evolving…
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In Uganda’s fast-evolving insurance market, questions of trust, innovation, and growth remain central. The insurance industry has been expanding, attracting bigger regional players and new products, but challenges of low penetration and uptake continue to shape the everyday business. We spoke to Ambrose Kibuuka, Chief Executive Officer of ICEA Lion General, about where the market is headed, what is driving competition, and how insurers can grow by serving the largely uninsured majority. Below are excerpts. Beyond the CEO title, who are you? What values or habits define Ambrose Kibuuka as a person? I am proudly Ugandan, born and bred here….
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Ugandans can now buy motor third-party insurance from the comfort of their homes, thanks to a new WhatsApp-based digital platform launched by Excel Insurance Company in partnership with Service Cops….
Customer complaints in the insurance sector have more than doubled in just three years, from under 150 to over 350. But to Chief Executive Officer Ibrahim Kaddunabbi Lubega, this isn’t…
In Uganda, where insurance penetration remains below 1% of GDP, at 0.883% in 2024, according to the Insurance Regulatory Authority (IRA), the sector sits in a paradox. On paper, it is growing: gross written premiums rose by more than 10% in 2024 to UGX 1.76 trillion, and the number of licensed players increased to 143 companies in 2025. Mergers among major insurers, such as the April tie-up between Sanlam General and Jubilee Allianz, dominate headlines. The regulator has also tightened oversight, enforcing a 200% capital adequacy ratio that has compelled firms to strengthen their balance sheets. Yet for the average…
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In a rare case of an efficiently managed public institution in Uganda, the Insurance Training College (ITC) emerges as an island of financial discipline in a sea of inefficient state enterprises. In his report for the 12 months ended June 2024, Auditor General Edward Akol delivers glowing praise: the College’s books are clean, its statements comply with International Financial Reporting Standards (IFRS), and its liquidity is not just adequate – it’s exemplary. But behind the commendation lies a quiet dysfunction: an execution gap that threatens to erode the very mandate the College was created to uphold. Clean accounts are no…
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