A model regulator of a secure and developed insurance industry

IRA AUTHORISES 139 INDUSTRY PLAYERS TO TRANSACT IN 2024

Licensed insurance Players

IRA AUTHORISES 139 INDUSTRY PLAYERS TO TRANSACT IN 2024 The Insurance Regulatory Authority of Uganda (IRA) has authorised a total of 139 industry players to conduct insurance business, effective January 2, 2024. The players include two (2) Re-insurers, 20 Non-life Insurers, eight (8) Life Insurers, five (5) Micro Mnsures, two (2) Health Membership Organisations (HMOs),… Continue reading IRA AUTHORISES 139 INDUSTRY PLAYERS TO TRANSACT IN 2024

INSURANCE INDUSTRY POSTS IMPRESSIVE Q2 PREMIUM GROWTH

Q1 Press briefing

The Insurance Regulatory Authority of Uganda (IRA) has reported strong second-quarter results, showcasing impressive growth in written premiums on the back of a resilient sector. The industry’s written premiums posted an upswing of 16.5% from UShs711.6 billion posted in Q2, 2022 to uShs828.9 billion as at the end of June 2023. The IRA Chief Executive… Continue reading INSURANCE INDUSTRY POSTS IMPRESSIVE Q2 PREMIUM GROWTH

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

WHY ALL WORK-RELATED INJURIES MUST BE PAID FOR BY WORKERS COMPENSATION INSURANCE

By Alhaj Kaddunabbi Ibrahim Lubega Just like Motor Third Party Insurance is mandatory for all motorists driving on Ugandan roads, Workers’ Compensation insurance is also mandatory for all businesses operating in Uganda, irrespective of size. This is provided for under section 18 of the Workers Compensation Act, which provides for compensation to workers for injuries… Continue reading WHY ALL WORK-RELATED INJURIES MUST BE PAID FOR BY WORKERS COMPENSATION INSURANCE

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

THE ANNUAL INSURANCE WEEK IS BACK!

Annual Insurance Week 2023

This week is dedicated to sensitizing and educating you on matters of insurance. The week brings together all licensed insurance players to physically interact with you so as to understand your insurance needs and serve you better. This week will start on Monday 6th to Thursday 9th March 2023 at Railway Grounds in Kampala, and… Continue reading THE ANNUAL INSURANCE WEEK IS BACK!

134 INSURANCE PLAYERS AUTHORDISED TO TRANSACT IN 2023

134 INSURANCE PLAYERS AUTHORDISED TO TRANSACT IN 2023 The Insurance Regulatory Authority of Uganda (IRA) has authorised a total of 134 industry players to conduct insurance business in 2023. The authorised insurance players include two (2) reinsurers, 20 non-life insurers, eight (8) life insurers, two (2) micro insures, two (2) Health Membership Organisations (HMOs), three… Continue reading 134 INSURANCE PLAYERS AUTHORDISED TO TRANSACT IN 2023

IRA LAUNCHES THIRD INSURANCE INDUSTRY INNOVATION AWARDS

The Insurance Regulatory Authority of Uganda (IRA) has launched the 2022 insurance Industry Innovation Awards. This is the third edition of the awards and it comes on the heels of the earlier two that were successfully held in 2020 and 2021, respectively. The awards will among others identify and reward innovations that are ensuring that… Continue reading IRA LAUNCHES THIRD INSURANCE INDUSTRY INNOVATION AWARDS

INSURANCE INDUSTRY GROWS FASTER IN THIRD QUARTER

Uganda’s insurance industry grew faster in the third quarter of 2022 than had been earlier projected. Figures released by the Insurance Regulatory Authority of Uganda (IRA) at a media briefing held at the Insurance Tower on November 21, indicate that the industry grew by 18.57% as at the end of September, surpassing the 15% growth… Continue reading INSURANCE INDUSTRY GROWS FASTER IN THIRD QUARTER