A model regulator of a secure and developed insurance industry

INSURANCE INDUSTRY REGISTERS ROBUST GROWTH IN 2023

Uganda’s insurance industry registered robust growth rate in 2023 on the back of enhanced insurance customer confidence, improved distribution channels, and growth in online transactions. Statistics released by the Insurance Regulatory Authority of Uganda (IRA) at a press briefing on July 4, indicate that the industry’s gross written premiums grew by 11.29% in 2023 from… Continue reading INSURANCE INDUSTRY REGISTERS ROBUST GROWTH IN 2023

IGNITING EXCELLENCY IN THE INSURANCE SECTOR

This magazine profiles a journey that transcends boundaries, defies norms, and champions the very essence of progress within our dynamic sector. Within this information-rich pieces, you will find not only a retrospective tapestry of the preceding three award galas, but also a compelling collection of narratives about the current edition. The profiles of the nominees… Continue reading IGNITING EXCELLENCY IN THE INSURANCE SECTOR

FIRMS, INDIVIDUALS SHINE AT THE 2023 INNOVATION AWARDS GALA

It was all joy on Friday, March 15, as the Insurance Regulatory Authority of Uganda (IRA) once again awarded the most innovative industry solutions at a colorful ceremony held at Kampala Serena Hotel. With nine categories and plaques of gold and silver, the 2023 Insurance innovation awards recognized the “cream of the crop” in Uganda’s… Continue reading FIRMS, INDIVIDUALS SHINE AT THE 2023 INNOVATION AWARDS GALA

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