A model regulator of a secure and developed insurance industry
History of The Insurance Regulatory Authority of Uganda (IRA)
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 establishment of the Insurance Regulatory Authority of Uganda was a consequence of Government’s adoption of the liberalization and privatization policies which ended its role of directly engaging in the provision of goods and services and taking on the role of supervisor or regulator.
A Trusted and Proactive Regulator of a Resilient and Inclusive Insurance Sector
that Drives Socio-Economic Transformation
To transform Uganda’s Insurance Sector by ensuring financial stability, driving
Innovation and advancing social-economic transformation.
To deepen insurance sector development and resilience through effective regulation, Innovation and inclusion for national transformation
The Authority shall, at all times, uphold the following values;
- Collaboration.
- Accountability
- Professionalism
- Integrity
- Innovation.
WHY WE EXIST!
The establishment of the Insurance Regulatory Authority of Uganda was a consequence of Government’s adoption of the liberalization and privatization policies which ended its role of directly engaging in the provision of goods and services and taking on the role of supervisor or regulator.
