WAKISO, UGANDA | THE INDEPENDENT | When an incident happens to or at a property and there are spillover impacts to neighbouring properties and/or human lives, there may be questions unanswered as to where to seek redress, if any. These may be a building, finished or under construction, collapsing or a …
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Kampala, Uganda | THE INDEPENDENT | On Friday, 18th October 2024, UAP Old Mutual Insurance received the prestigious resilience and sustainable impact award in the insurance category at the 3rd edition of the Corporate Governance Awards. The event, held at Sheraton Hotel, Kampala, was themed “Recognizing Resilience and Sustainable Impact.” Organized …
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Non-life insurance continues to dominate the market, holding 58% of the aggregate industry written premiums Kampala, Uganda | THE INDEPENDENT | Insurance companies in Uganda reported gross written premiums of Shs 933.8 billion (approximately US$249 million) in the first half of 2024, according to a sector performance report released by the …
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Kampala, Uganda | THE INDEPENDENT | All Ugandan importers are required to insure their imports still on the high seas with local insurance companies through the Local Marine Insurance Portal, starting next month. This follows the completion of all the necessary processes, including integrating the Uganda Revenue Authority (URA), Uganda Insurers …
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Parametric insurance has grown in popularity in recent years, with the World Economic Forum recently describing it as a potential “game changer” for mitigating disaster risk ANALYSIS | AGENCIES | Liberty Mutual Reinsurance (LM Re) has partnered with Kenyan financial services provider Britam and farming-focused insurtech Sprout to offer a parametric insurance …
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Kampala, Uganda | THE INDEPENDENT | Insurance companies in Uganda paid out over 820.1 billion shillings to various customers in claims in 2023. The Insurance Regulatory Authority of Uganda (IRA) said the payments amounted to more than half (51.17 percent) of the total amount of money that the insurance policy …
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Kampala, Uganda | THE INDEPENDENT | The insurance industry has successfully implemented a product incubation project aimed at supporting seamless role out of innovative products onto the market. The project, a regulatory sandbox, provides a controlled environment for the live-testing of new products, technology, or business models under the watchful …
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Kampala, Uganda | THE INDEPENDENT | The Uganda Insurers Association (UIA) has expressed optimism that recognizing top-performing industry agents will significantly boost insurance penetration and contribute to the sector’s overall growth. During the 13th Annual UIA Insurance Agents Awards held on April 26 at Speke Resort Munyonyo, UIA’s Chairman of the …
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Kampala, Uganda | THE INDEPENDENT | The Uganda Revenue Authority (URA) has appealed to traders who are already registered on Electronic Fiscal Receipting and Invoicing Solutions (EFRIS) to popularize it. It emerges that those opposed to this solution think that it is a form of tax. Electronic Fiscal Receipting and Invoicing …
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NAIROBI, KENYA | Xinhua | East African countries unveiled a strategic plan on Thursday aimed at increasing insurance penetration in the region. Kaddunabbi Ibrahim Lubega, Chairman of the East African Insurance Supervisors’ Association and CEO of the Insurance Regulatory Authority of Uganda, announced the plan in Nairobi, Kenya. Lubega said …
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