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How Uganda’s insurance firms performed in 2018

Insurance firms that recorded profits

Insurance firm 2017 2018
Jubilee 10.5bn 17.8bn
UAP 4.8bn 10.8bn
Sanlam 1.5bn 5.5bn
Britam 1.3bn 2.9bn
Goldstar 2.02bn 1.5bn
Alliance Africa 475million loss 680million
Statewide 474million loss 176million
Excel 313million loss 115million
Rio 130million loss 30million

 

Loss making insurance firms

Insurance firms 2017 2018
Transafrica Assurance 845million profit 21.8million loss
APA 1.1bn profit 632million loss
Mayfair 654million loss
PAX Insurance 1.8bn profit 866million loss
MUA 919million loss 889million loss
NIC 2.5bn loss 1bn loss
Liberty 2.2bn loss 1.1bn loss
Nova 1.1bn loss 1.1bn loss
First Insurance company 567million loss 1.5bn loss
ICEA 1.6bn loss 2.5bn loss
CIC 623million loss 3.5bn loss
AIG Uganda 8.6bn loss 5.7bn loss
     

 

Gross underwritten premiums for non-life insurance firms

Insurance firm Performance in 2017 (Bns) Performance in 2018 (Bns) Market share
Jubilee Insurance 146.6 133.4 25.7
UAP General Insurance 111.9 103.4 19.6
Sanlam General 71.4 63.2 12.5
Britam 56.8 44 10
Goldstar 24.5 20.8 4.3
ICEA 21.9 19.8 3.8
MUA 21.9 16.3 3.2
Statewide 16.5 13.5 2.9
NIC 15.9 15.7 2.8
APA 15.9 15 2.7
Liberty General 13.6 12.7 2.4
CIC General 13.4 10.8 2.3
Alliance Africa General 12.5 10.1 2.2
Excel Insurance 8.0 9.0 1.6
TransAfrica Assurance 7.3 7.6 1.4
Pax Insurance 5.3 5.8 1
First Insurance 3.8 4.0 0.7
Nova 1.77 2.65 0.5
Rio 1.15 1.17 0.2
Mayfair 37million 0.01
AIG insurance 482 00
Total 507.2 569.2

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