African insurance regulators have agreed on measures aimed at reducing regulatory fragmentation and strengthening oversight of an increasingly interconnected regional insurance market.The decisions were reached during meetings of the East African Insurance Supervisors Association (EAISA) in Nairobi, bringing together regulators from Burundi, the Democratic Republic of Congo, Kenya, Rwanda, Tanzania and Uganda. Discussions focused on… Continue reading EAST AFRICA INSURANCE REGULATORS MOVE TO HARMONIZE SUPERVISION AS REGIONAL MARKET DEEPENS
Insurance for All: Building Resilience, Inclusion and Growth
Tag: Insurance Performance in Uganda
INSURERS CHALLENGED TO BE PART OF UGANDA’S 10-FOLD GROWTH STRATEGY
Insurers have been challenged to move beyond traditional insurance products and play a bigger role in supporting investment, infrastructure, production and other areas of Uganda’s economic transformation in the wake of the implementation of the 10-fold growth framework. According to the National Planning Authority Executive Director, Dr. Joseph Muvawala, insurance should be part of the… Continue reading INSURERS CHALLENGED TO BE PART OF UGANDA’S 10-FOLD GROWTH STRATEGY
WILLINGNESS TO CONFRONT THE FUTURE KEY TO SUSTAINABLE PROFITABILITY – INSURERS TOLD
Faridah Kulabako: Insurance industry captains must prioritize curiosity and open-mindedness to navigate today’s complex business landscape characterized with uncertainty, disruption, and rapid technological advancements if they are to drive sustainable growth. The call was made by Dr. Peter Kimbowa, the Team leader at CEO Summit during the 68th CEO’s Breakfast Meeting organised by the Insurance… Continue reading WILLINGNESS TO CONFRONT THE FUTURE KEY TO SUSTAINABLE PROFITABILITY – INSURERS TOLD
THE INSURANCE BUZZ – JULY TO SEPTEMBER 2024 EDITION
As the Insurance Regulatory Authority (IRA) continues to champion progress in the insurance industry, the dedication to promoting community well-being remains unwavering. In the recent months, we have actively engaged in a range of initiatives, from transformative discussions to participating in impactful Corporate Social Responsibility events. Our participation in the 2024 Rotary Cancer Run and… Continue reading THE INSURANCE BUZZ – JULY TO SEPTEMBER 2024 EDITION
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
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
