IRA

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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.

	IRA to get a Shs.28 billion home..
	The Chairperson Parliament Finance Committee, Hon. Henry Musasizi with the IRA Board members Dr. Isaac Nkoote, Hajjat Aphwa Ssebyala and Mr. James Muwawu with the IRA Chief Executive Officer Alhaj Kaddunabbi Ibrahim Lubega and the Managing Director Roko Construction Company, Mr. Mark Koehler at the groundbreaking ceremony. March 14^th 2018, is a historic day at the Insurance Regulatory Authority of Uganda. It was the day for breaking the ground, marking the official start of the construction of a permanent home -the Insurance Tower - for the Authority. The construction works estimated at sh28 billion commenced yesterday at Plot 6 Lumumba Avenue in Kampala. Mr. Mark Koehler the Managing Director ‎of Roko Construction Company, the contracted company for the works, said the eleven-storeyed structure with 2 basements will be complete within 18 months (the contract period) and shall be handed...Read more.

Journalists trained on insurance reporting..

A cross section of the journalist who participated in the recent media engagement.

A total of 45 journalists from 30 media houses took part in a new initiative to improve insurance coverage and reporting in print, electronic and online local and national media agencies.

At the training which took place at Colline Hotel Mukono on 23^rd February 2018, the IRA appreciated the role that the media plays in covering developments in the insurance industry and other related issues as well as spreading awareness among the general public and the ..Read more.

	Insurers updated on the new accounting standards -IFRS9..
	IRA CEO Alhaj Kaddunabbi Ibrahim Lubega welcomes Mr. Wilson Kaindi a senior manager at KPMG to make a presentation at the CEOs' breakfast meeting on 25th January 2018. The insurance sector is set to change the way it will be reporting on its investment portfolio and other financial instruments. This comes in awake for insurers specifically to comply with the International Financial Reporting Standard 9 (IFRS 9), which became effective 1^st January.. Read more.

See a list of licensed Players;

Important Links
	International Association of Insurance Supervisors Insurance Regulatory Authority of Kenya Tanzania Insurance Regulatory Authority Ministry of Finance,Planning and Economic Development,Uganda Capital Markets Authority Bank of Uganda The Uganda Association of Insurance Brokers Uganda Insurers Association Uganda Investment Authority Insurance Institute of Uganda Uganda Retirement Benefits Regulatory Authority


	Plot5,Kyadondo Road, Nakasero. Legacy Towers, Block B, 2nd Floor.
	Kampala 22855 - Uganda

	ira@ira.go.ug

	0312-266364/ 0414-346712 / 041-4253564

	256 414 349260

	https://www.ira.go.ug

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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