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

WHY NHIS SHOULD BE MANDATORY FOR ALL

By Alhaj Kaddunabbi Ibrahim Lubega – IRA CEO Reference is made to an article titled “Exclude the poor from health insurance contributions – experts” that was published in the media on August 15, 2023. In the article, the writer quotes Dr Githinji Gitahi, the Chief Executive Officer of Amref Health Africa, saying that government should… Continue reading WHY NHIS SHOULD BE MANDATORY FOR ALL

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

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

THE IRA NEWSLETTER

Insurance Tower

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

THE IRA NEWSLETTER (7TH EDITION)

The IRA Newsletter - 7th Edition

In this 7th edition of the IRA Newsletter, you will find out how the Inaugural Insurance Week went down ending with the 2nd edition of the Annual Insurance Innovation Awards. You also get to learn of IRA’s new and permanent home, which has now been occupied. Your feedback on this newsletter by way of comments… Continue reading THE IRA NEWSLETTER (7TH EDITION)

INSURANCE SECTOR HITS SHS1 TRILLION GWP MARK

IRA CEO at speaking at the press conference

INSURANCE SECTOR HITS SHS1 TRILLION GWP MARK AS INSURANCE COMPANIES PAY OUT SHS440BN IN CLAIMS.