Kampala, Uganda | THE INDEPENDENT | The insurance industry has attributed the recent high growth rates in business to the innovation trends, that have seen delivery of services to the public become easier. The business value, measured by the value of the Gross Underwritten Premiums (the money that the public gives …
Read More »Report shows Ugandan insurers not doing enough to satisfy customers
Kampala, Uganda | THE INDEPENDENT | A new study of the insurance industry in Uganda has revealed persistent continued dishonesty as well as withholding vital information by practitioners, a major source of public mistrust. The Policyholder Satisfaction Survey that was conducted this year courtesy of the Insurance Regulatory Authority (IRA) …
Read More »Insurance puts COVID-19 effects behind it, booms 3rd straight year
Kampala, Uganda | THE INDEPENDENT | The insurance industry has declared the direct effects of the COVID-19 pandemic on the business behind them, following sustained growth in premiums raises and claims paid. According to the figures, the industry remained on a positive growth path in 2022, with Gross Written Premium …
Read More »Insurance premiums reach Shs1.08tn in quarter three of 2022
The projected total Gross Written Premium at the end of year 2022 is Shs1.3tn supported by a strong economy according to industry regulator Kampala, Uganda | THE INDEPENDENT | Uganda’s insurance sector has remained on a positive growth trajectory in the third quarter of 2022, with the total gross written …
Read More »Uganda’s insurance premiums up 18.5% to Shs711.6bn
The market boasts of two reinsurance companies, 29 insurance players, and three HMOs | THE INDEPENDENT | Insurers in Uganda have recorded an 18.5% growth in gross written premiums for the six-month period ending June.30 to Shs 711.6bn. Results released in Kampala on Aug.18 indicate that the non-life insurance business …
Read More »Uganda unveils mortality table for life insurers
Kampala, Uganda | ISAAC KHISA | Insurance Regulatory Authority of Uganda has unveiled the first ever mortality table for life insurance companies in the country to help determine pricing, which may decrease or increase payments popularly known as premiums for new life insurance products and annuities. The table dubbed Uganda …
Read More »Insurance sector boost
Players are changing tactics to deal with the sector’s penetration headache | THE INDEPENDENT | Why has Uganda’s insurance penetration remained below 1% for many years? This is the question that has been asked several times and players continue to scratch their head to answer it. The public will be waiting …
Read More »Insurances industry sees positive growth amidst COVID-19
Failure to operationalise the National Health Insurance Scheme and resurgence of COVID-19 may constrain demand for insurance Kampala, Uganda | ISAAC KHISA | Uganda’s insurance industry is projected to register consistent growth in 2022 riding on technology innovations, government’s investment in infrastructure and increased economic activities as economy opens up. …
Read More »Insurance sector records slow growth in premiums
IRA hopes that 2021 will be a better year compared with last year amidst the new wave of coronavirus pandemic Kampala, Uganda | ISAAC KHISA | Enhanced distribution and sustainable growth in the uptake of medical and life insurance policies helped Uganda’s insurance industry to record a 9% growth in …
Read More »Insurance industry records 8% drop in profit to Shs17.93bn
Gross underwritten premiums to plummet in 2020 THE INDEPENDENT | ISAAC KHISA | A surge in claims and management expenses saw Uganda’s nonlife insurance firms record 8% drop in profit to Shs17.93bn for the year ended Dec.2019. However, the industry executives said there is nothing to worry about since the …
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