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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 —…
Liberty Life Assurance Uganda has announced a phased withdrawal from its health insurance business in Uganda, signaling a major realignment of its business priorities in East Africa. The development follows a comprehensive business review by its parent company, Liberty Group, in 2024, which saw the decision to wind down the South African operations of Liberty Health (Pty) Ltd (LH) and localize operations to markets with in-country insurance licensing. In a letter dated 19 June 2025 addressed to healthcare providers and signed by Joseph Almeida, the Managing Director of Liberty Life Assurance Uganda, the company confirmed that it would cease offering…
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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 three months to December 2024, gross written premiums from bancassurance rose by 25.36% to UGX 225 billion from UGX 179.4 billion, contributing 12.56% to gross insurance written premiums. Life continues to dominate in terms of written premiums under bancassurance, contributing 78.26%, compared to 21.74% for nonlife. IRA data indicates that in the three months to December 2024, banks wrote 619,719 life policies, from which UGX 176 billion was generated, leading…
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Insurance gross written premiums grew by 12.04%, increasing by at least UGX 192.4 billion in the three months to December 2024. Details contained in the Insurance Regulatory Authority (IRA) Market Performance Report show that gross written premiums rose from UGX 1.5 trillion in the same period in 2023 to UGX 1.7 trillion supported by considerable growth in microinsurance, Health Maintenance Organizations (HMOs) and life premiums. During the period, microinsurance posted the largest share of growth of 67.4%, doubling gross written premiums from just UGX 888 million to UGX 1.4 billion, while premiums under HMOs grew by 24.01%, rising from UGX…
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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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