A model regulator of a secure and developed insurance industry

IRA LAUNCHES FOURTH INSURANCE INNOVATION AWARDS

The Insurance Regulatory Authority of Uganda (IRA), in partnership with the industry umbrella bodies, has launched the fourth round of the Innovation awards. Speaking at the launch ceremony at the Insurance Tower in Kampala on November 23, the IRA Chief Executive Officer, Alhaj Kaddunabbi Ibrahim Lubega said the innovation awards have become change agents by… Continue reading IRA LAUNCHES FOURTH INSURANCE INNOVATION AWARDS

INSURANCE SECTOR POSTS STRONG GROWTH IN 2022

INSURANCE SECTOR POSTS STRONG GROWTH IN 2022

Uganda’s insurance sector recorded a year of strong growth of 20.4% in 2022 compared to 10.61% in 2021. Statistics released by the Insurance Regulatory Authority of Uganda (IRA) show that the sector’s Gross Written Premium (GWP) grew from UShs1.183 trillion in 2021 to UShs1.425 trillion in 2022. The IRA Chief Executive Officer Alhaj Kaddunabbi Ibrahim… Continue reading INSURANCE SECTOR POSTS STRONG GROWTH IN 2022

IRA RECEIVES GIANT SAVINGS BANK FROM UIA

The Insurance Regulatory Authority of Uganda (IRA) has today received the giant savings bank from the Uganda Insurers Association at a function held at the Insurance Tower in Kampala. The giant savings bank was received by the IRA Director in charge of Planning, Research and Market Development, Mr. Protazio Sande on behalf of the Chief… Continue reading IRA RECEIVES GIANT SAVINGS BANK FROM UIA

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

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

PRICING FOR LIFE INSURANCE PRODUCTS SIMPLIFIED

From left are, a representative from World Bank, Brain Akimanzi, Deputy Secretary to the treasury, Patrick Ocailap, the Chief Executive office of Uganda Insurance Regulatory Authority of Uganda, Kaddunabbi Ibrahim Lubega and a representative of Uganda Insurance Association, Emmanuel Mwaka pose for a photograph after signing on the board during the launch of the mortality table at Kampala Serena Hotel on March 28 2022. Photo by Ronnie Kijjambu

Life insurance product buyers are set to enjoy more accurate pricing for life insurance products following the launch of the Assured Lives Mortality Tables by the Insurance Regulatory Authority of Uganda (IRA). The 2015-19 tables will offer up-to-date reflective statistics that will be used by Life Insurance companies currently operating in the market, as a… Continue reading PRICING FOR LIFE INSURANCE PRODUCTS SIMPLIFIED

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

IRA, PARTNERS SUCCESSFULLY HOLD INAUGURAL INSURANCE

The Insurance Regulatory Authority of Uganda (IRA), successfully held the inaugural Insurance Week from March 7 – 11, at the Railways Grounds in Kampala. The event sought to take insurance information closer to the people so as to enable them make informed buying decisions and increase the uptake of insurance services. The week-long event was… Continue reading IRA, PARTNERS SUCCESSFULLY HOLD INAUGURAL INSURANCE

2021 INSURANCE PRODUCT INNOVATION AWARDS SLATED FOR MARCH 11

The Insurance Regulatory Authority of Uganda (IRA) will on March 11, award the most innovative industry players. This follows the launch of the second Insurance Product Innovation Awards at the Authority’ office at Kyadondo Road, Kampala. Speaking at the launch ceremony, the IRA Chief Executive Officer Alhaj Kaddunabbi Ibrahim Lubega, said the awards seek to… Continue reading 2021 INSURANCE PRODUCT INNOVATION AWARDS SLATED FOR MARCH 11