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…
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…
This year holds a promise of growth with more Ugandans taking on insurance, The sector, even as penetration remains under 1 percent, has been expanding in terms of premiums, supported by especially growth in health or…
Beyond the conventional channels of writing insurance premiums, insurers have also built a new revenue stream of bancassurance through which they partner with banks to recruit new policyholders. During the…
The insurance industry registered robust growth rates in the first three quarters of 2024. The total gross written premium grew to Ugx.1.39 trillion in the third quarter of 2024 compared…
NIC Holdings has come out to explain the suspension of the operating licence for NIC Life Assurance Company Limited (NIC Life). The Insurance Regulatory Authority – IRA recently suspended the…
Bancassurance contributed UGX103.5 billion to the UGX1.1 trillion Gross Written Premium (GWP) recorded by Uganda’s insurance sector in 2021 with Stanbic Bank accounting for 22 percent to consolidate its position…
Prudential Uganda has won three awards; the Most Innovative Life Insurance Product, Most Innovative Insurance Agent and the Overall Judges’ Special Award in the second edition of the Insurance Innovation…
VisionFund Uganda and Turaco Insurance Brokers Limited (T/A Turaco) are proud to officially announce the launch of their partnership with a microinsurance product called “VisionFund Cares”. The product offering, available to over…
The Insurance Regulatory Authority of Uganda (IRA) has published industry performance for the period April-June 2021 (Q2) with Bancassurance recording a 54% growth dominated by Stanbic Bank Uganda which consolidated…
