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IRA


 
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Insurance Regulatory Authority of Uganda
The Insurance Regulatory Authority of Uganda (IRA) was established under section 14 of the Insurance Statute 1996 now The Insurance Act,(Chap213) Laws of Uganda, 2000(Insurance Act)which came into effect on 4th April 1996 and commenced operations in April 1997

The main object of the Authority is to ensure the effective administration, supervision, regulation and control of the business of Insurance in Uganda.

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Our Key Functions
The Objective of the Authority is to ensure the effective administration, supervision, regulation  and control of the business of Insurance in Uganda.
 
  • establish standards for the conduct of insurance and reinsurance business;
  • license all persons involved in or connected with insurance business, including insurance and reinsurance companies, insurance and reinsurance intermediaries, loss adjusters and assessors, risk inspectors and valuers;
  • approve texts of policies proposal forms;
  • approve minimum rates of insurance premiums and maximum commissions in
    respect of all classes of insurance;
  • safeguard the rights of insurance policyholders and insurance beneficiaries to any insurance contract;
  • provide a bureau to which complaints may be submitted by members of the public;
  • advise the Government on adequate insurance protection and security for national
    assets and national properties;
  • promote a sound and efficient insurance market in the country;
  • supervise and control transactions between insurers and re-insurers;
  • ensure strict compliance with this Act and regulations made under it and any
    other law relating to insurance; and
  • undertake other functions as the Minister may designate.
Parliament honors Alhaj. Kaddunabbi...

Rubaga South MP Hon. Kato Lubwama and Rakai Woman MP Hon. Suubi Kyinyamatama congratulating Alhaj Kaddunabbi Ibrahim Lubega after parliament passing a resolution recognizing his achievement.

The Parliament on Tuesday 9th January 2018, adopted a motion in honor of Alhaj Kaddunabbi for being elected President of African Insurance Organisation.

The motion congratulated Kaddunabbi and took cognizance of the services he has rendered, contributed and achieved for the insurance sector. The motion was moved by Hon. Henry Musasizi (Rubanda County East) and seconded by Anthony Okello (Kioga County).

Kaddunabbi is the Chief Executive Officer of the Insurance Regulatory Authority of Uganda and the chairperson of the East African.. Read more.

IRA Licenses 95 Insurance players..

Under section 28 (1) and 72 (1) of the Insurance Act (Cap 213), the Insurance Regulatory Authority of Uganda has granted licenses to 95 players to transact insurance business in the year 2018.

The Authority has licensed 28 insurance companies (19 non-life firms and 9 firms for life assurance business); one re-insurer, five Health Membership Organizations (HMOs), 32 insurance brokers, one re-insurance broker  and 22 Loss Assessors/Adjusters.

It has also licensed six banks namely; Bank of Africa, Barclays Bank, Diamond Trust Bank, Finance Trust Bank, NC Bank and Stanbic Bank to start selling insurance products and provide insurance services to its clients. Read more.

Insurance players challenged on research and mergers.

Dr. Isaac Nkote, the IRA Board Chairman addressing insurers and brokers at a cocktail at the Uganda Insurers Association Offices.

Insurance industry has been challenged on research, innovation, and mergers to improve the low penetration levels.

Dr. Isaac Nkoote, the IRA Board chairman told insurers and Brokers to consider carrying out research, investment in innovations and product development, and that small insurance firms should consider mergers and acquisitions as options to consolidate the sector.Read more.

 
 
See a list of licensed Players;

Important Links
 
Our Contacts
Address:
Plot5,Kyadondo Road, Nakasero. Legacy Towers, Block B, 2nd Floor.
Kampala 22855 - Uganda
 
E-mail: ira@ira.go.ug
Telephone: 0312-266364/ 0414-346712 / 041-4253564
Fax: 256 414 349260
https://www.ira.go.ug
 
Information Center
 

Employee of the Month

To Make a Complaint, Click Here or Call Toll Free 0800 124 124
Complaints Bureau
 
About the Bureau
The Authority set up a Complaints Bureau in 1998 as per Section 15(f) of the Insurance Act to handle complaits against Insurance players. The public is urged to always lodge complaints with the Bureau for prompt settlement to complaints and avoidance of lengthy and costly Court cases
For complaints / Suggestions
Your Name:
E-mail:
Telephone Number
Insurers
Comments

Insurance Players
Regulations
Licenced Insurance Brokers
Licenced Loss Adjusters
Licenced Insurance Companies
HMOs
Licenced Agents
Insurance Regulations 2002
HMOs Regulations
Investment Regulations of Paidup Capital

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