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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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SanlamAllianz General Insurance Uganda has launched a new policy, the SanlamAllianz On-the-Go Accident Cover, at their head office on Prince Charles Drive in Kololo. This will be Uganda’s first local…
Uganda’s brokerage sector for both insurance and reinsurance recorded another quarter of steady growth in Q2 2025, with leading firms increasing commissions and maintaining — in some cases, expanding —…
Uganda’s insurance sector is set for a major shake-up following regulatory approval for the long-anticipated merger between Sanlam General Insurance (Uganda) Limited and Jubilee Allianz General Insurance Company Limited. The Insurance Regulatory Authority of Uganda (IRA) has officially sanctioned the amalgamation, marking a pivotal moment for an industry that has long grappled with fragmentation, low penetration, and limited economies of scale. The landmark merger is part of a broader Africa-wide joint venture between South Africa’s Sanlam Group and Germany’s Allianz SE, announced in September 2023. The strategic alliance spans 27 African countries, with a combined enterprise value nearing US$2 billion…
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Uganda’s Insurance Regulatory Authority (IRA) has released the official 2022 report detailing the performance of the insurance industry, showing that the sector remained on a growth trajectory in the year 2022, with Gross Written Premium (GWP) growing from UGX 1.183 trillion in 2021 to UGX 1.425 trillion in 2022⏤ a 20.4% growth. In 2021 the industry grew by 10.61% and 9.34% in 2020. According to IRA’s Chief Executive Officer, Alhaj Kaddunabbi Ibrahim Lubega, “The impressive growth is evidence of recovery of business activity from the effects of Covid -19 pandemic.” “Of the UGX 1.425 trillion, the non-life business generated UGX…
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The dispute stems from a 1st July 2016 to 30th June 2017 performance bond worth USD3,000,000 the three companies made to Rift Valley Railways (RVR), then a concessionaire of URC’s assets. The bond was co-insured between Old Mutual Insurance Uganda Ltd (40 per cent); Sanlam General Insurance Uganda Ltd (30 per cent) and Britam Insurance Uganda Ltd (30 per cent). It shall be remembered that URC entered into a concession agreement with Rift Valley Railways Uganda Ltd (RVRU) allowing the latter to run the operations of URC for twenty-five years effective 1st November 2006. As a condition, RVR had to…
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Uganda’s insurance industry has grown quite significantly, nearly touching the UGX1 trillion in premiums mark in 2019- what are some of the key highlights of this growth? First of all, in general, I must say, for the period I have been at the helm of the Insurance Regulatory Authority (IRA), the insurance industry has continued to register a two-digit positive growth year in, year out and 2019 was no exception. In 2019, the insurance industry registered a growth of 13.22 percent in gross written premiums- from UGX860 billion in 2018 to UGX974 billion. Broken down into classes, general or non-life…
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Prudential has today, March 30, 2020, announced a cash pay-out to its customers, should they, unfortunately, be diagnosed with Covid-19. This pay-out is intended to help their family manage expenses while they are in recovery. In addition, if a customer is admitted to a hospital with Covid-19, Prudential will provide a daily allowance at no extra cost to the client. “Covid-19 is impacting everyone and all aspects of our lives. In times of uncertainty, it is important that an insurer delivers on its promises. For nearly two centuries, Prudential has been standing up for clients and communities in good times…
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