A model regulator of a secure and developed insurance industry

BUILD AFFORDABLE FINANCIAL SOLUTIONS TO BOOST SAVINGS – BOU

Financial services providers have been urged to build and extend affordable and user friendly green financial solutions to underserved and low-income Ugandans to encourage them to save with formal financial institutions to grow savings in the country. The appeal was made by the Bank of Uganda Deputy Governor Mr. Michael Atingi-Ego at a media briefing… Continue reading BUILD AFFORDABLE FINANCIAL SOLUTIONS TO BOOST SAVINGS – BOU

IRA PARTNERS WITH UBTS IN BLOOD DONATION DRIVE

Blood Donation

The Insurance Regulatory Authority of Uganda (IRA) recently teamed up with the Uganda Blood Transfusion Services (UBTS) to mobilize blood amid its growing demand in hospitals across the country. Uganda Blood Transfusion Services (UBTS), is the body mandated to conduct blood donor recruitment and mobilization countrywide while IRA is the regulatory body for the insurance… Continue reading IRA PARTNERS WITH UBTS IN BLOOD DONATION DRIVE

IRA LAUNCHES SYSTEM TO EASE COMPLAINTS HANDLING

The Insurance Regulatory Authority of Uganda (IRA) has launched a Complaint Management System to efficiently track and address grievances between insurers and the insuring public. The online system enables the insuring public to lodge insurance-related complaints at their convenience, without necessarily having to travel to IRA offices as it has been under the manual system.… Continue reading IRA LAUNCHES SYSTEM TO EASE COMPLAINTS HANDLING

INSURANCE INDUSTRY POSTS IMPRESSIVE FIRST HALF RESULTS

The Insurance industry remained on a positive growth trajectory over the first six months of the year, further demonstrating the sector’s resilience amid a contracting economy due to challenging macroeconomic fundamentals. Figures from the Insurance Regulatory Authority of Uganda (IRA) released on Thursday August 18, 2022 show that the industry’s gross underwritten premiums grew from… Continue reading INSURANCE INDUSTRY POSTS IMPRESSIVE FIRST HALF RESULTS

AN UPDATE ON THE NATIONAL HEALTH INSURANCE SCHEME

The conversation on the National Health Insurance Scheme is not yet over. It still remains a subject that everyone should be interested in for the advantages it carries. IRA’s CEO Alhaj Kaddunabbi Ibrahim Lubega spared some time and responded to some of the important questions on this subject. What is health insurance all about? Health… Continue reading AN UPDATE ON THE NATIONAL HEALTH INSURANCE SCHEME

ANYONE CAN INVEST IN INSURANCE

By Alhaj Kaddunabbi Ibrahim Lubega Reference is made to an article published titled “Over regulation is killing small businesses – expert” that was published in the New Vision of July 1, 2022 on page 24. In the article, the writer quotes the Makerere University Business School (MUBS) Principal, Prof. Wasswa Balunywa, saying that “people interested… Continue reading ANYONE CAN INVEST IN INSURANCE

EQUITY BANK UGANDA GIVEN GREEN LIGHT TO OFFER BANCASSURANCE SERVICES

Equity Bank Uganda has joined the list of banks offering bancassurance services in the country. The bank with a network of about 50 branches across the country, officially received clearance from the Insurance Regulatory Authority of Uganda (IRA) on Monday at the Insurance Tower, in Kampala. Its entrance in this space brings the number of… Continue reading EQUITY BANK UGANDA GIVEN GREEN LIGHT TO OFFER BANCASSURANCE SERVICES

2021 INSURANCE INDUSTRY INNOVATORS AWARDED

Insurance Innovation Awards Gala

At least six firms in the insurance industry have been awarded for their innovativeness in the just concluded second edition of the Insurance Product Innovation awards. The 2021 Insurance Product Innovation awards were organsied under the theme; “Innovation amidst turbulence”. The firms were awarded in six categories including the most Innovative Insurance Product (Life), most… Continue reading 2021 INSURANCE INDUSTRY INNOVATORS AWARDED

INSURANCE INDUSTRY POSTS GROWTH, COMPANIES TO GET MORE RESILIENT

The Insurance Regulatory Authority Chief Executive Officer, Alhaj Kaddunabbi Ibrahim Lubega said enforcing the new CAR will ensure that the insured enjoy better and faster service provision.

131 INSURANCE PLAYERS AUTHORISED TO CONDUCT INSURANCE BUSINESS IN 2022

The Insurance Regulatory Authority of Uganda (IRA) has authorised a total of 131 industry players to conduct insurance business in 2022, effective January 1. These include two (2) Reinsurance companies, twenty-one (21) non-life companies, eight (8) life companies, two (2) Micro Insurance Companies, three (3) Health Membership Organisations (HMOs), three (3) Reinsurance Brokers and forty-seven… Continue reading 131 INSURANCE PLAYERS AUTHORISED TO CONDUCT INSURANCE BUSINESS IN 2022