Traders are set to enjoy easy and convenient access to insurance for their goods following the launch of the local marine insurance platform. Dubbed the Insurance Regulatory Authority (IRA)-Uganda Revenue Authority (URA) Integrated Local Marine Insurance Platform, the online-based system allows traders to buy insurance for imports and exports from insurance companies licensed to operate… Continue reading LOCAL MARINE INSURANCE PLATFORM LAUNCHED
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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
THE IRA INSURANCE NEWS BUZZ – QUARTER 4 EDITION
Welcome to the 2023/2024 4th quarter edition of the Insurance Buzz Newsletter. This issue highlights the need for innovation and technological transformation in the insurance sector. Our commitment to enhancing insurance penetration and securing investments remains steadfast. The Insurance Regulatory Authority of Uganda (IRA) continues to raise awareness and foster innovation through technology. Recent engagements… Continue reading THE IRA INSURANCE NEWS BUZZ – QUARTER 4 EDITION
YOU CAN PROFITABLY INVEST IN AGRICULTURE WITH INSURANCE
By Alhaj Kaddunabbi Ibrahim Lubega – Chief Executive officer , IRA Uganda Reference is made to a story that appeared in one of the daily newspapers on July 19, 2024, titled “Farmers count losses as dry spell scorches maize gardens.” This is very saddening given that Uganda is predominantly an agro-based economy. This loss is… Continue reading YOU CAN PROFITABLY INVEST IN AGRICULTURE WITH INSURANCE
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
STRONG GOVERNANCE PRACTICES FUNDAMENTAL IN BUILDING RESILIENT INSTITUTIONS
With companies navigating an unprecedented mix of challenges, Boards of Directors have been urged to ensure strong governance practices to build resilient institutions. The call was made by the Insurance Regulatory Authority of Uganda (IRA) Director Legal Services/ Secretary to the Authority, Mrs. Francesca N. Kakooza during the 2023 League of East African Directors (LEAD)… Continue reading STRONG GOVERNANCE PRACTICES FUNDAMENTAL IN BUILDING RESILIENT INSTITUTIONS
INSURANCE INDUSTRY POSTS IMPRESSIVE Q2 PREMIUM GROWTH
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
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
INSURANCE CAN HELP IMPROVE ROAD SAFETY IN UGANDA
By Alhaj Kaddunabbi Ibrahim Lubega Nothing made headlines consistently last year like road crashes that claimed thousands of lives with hundreds surviving with injuries. According to the Traffic Police statistics, 1,021 boda boda riders and 401 passengers lost their lives between January and September 2022 across the country due to road crashes. In April 2022… Continue reading INSURANCE CAN HELP IMPROVE ROAD SAFETY IN UGANDA
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