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Tag Archives: Insurance

MMI Holdings enters Uganda’s insurance market

The South African company is projected to boost the country’s insurance penetration that now standing at 0.86%, the lowest in the region Low income earners, who often forgo insurance due to the expense, now have an affordable option that they could consider. South Africa-based insurance company, Metropolitan & Momentum International …

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Kenyan cooperative insurer makes bold move in Uganda

CIC Insurance Group seeks Shs7.25billion in share offer to fund expansion Regional insurance firm, CIC Africa Insurance holds just 0.01% of Uganda’s insurance business but it has signaled its determination to change that with plans offer shares to selected Ugandan cooperatives and Savings and Credit Cooperative Societies (SACCOS). The plan …

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Lion Assurance’s AIG takeover

What happens after `minnow’ swallows former giant of Uganda’s insurance sector? When regional insurance firm Lion Assurance Company (LAC) confirmed plans to take-over agents and business formerly under the American International Group (AIG), the first question was “how?” AIG-Uganda has been the third leading insurance company by assets in Uganda, …

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Need some insurance? No thanks

Last month, Benon Oluka, a journalist with The Observer newspaper, penned an article to narrate his experience with Insurance Company of East Africa (ICEA), an insurance company, which had refused to compensate him as a third party after he was injured in a nasty accident in Kibaale District last year. …

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Uganda Insurance industry tops Shs 700 bn

Uganda’s insurance industry premiums are expected to grew 20% to Shs733 billion this year on the back of sustainable economic expansion and demographic shifts and new opportunities. Five years ago, the insurance industry in Uganda could barely raise Shs 500 billion in total premiums. Across the border in Kenya, total …

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Scaling up the insurance industry

By Agnes E. Nantaba Newton Jazire is the managing director of Lion Assurance Company Ltd. He spoke to Agnes E. Nantaba about their operations and pertinent issues in the insurance industry in Uganda. What are the key elements in your management philosophy as a manager? Management is about the people; …

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Setting a standard in insurance

By Agnes E. Nantaba Paul Kavuma is the deputy managing director of Goldstar Insurance Company Ltd. He spoke to Agnes E. Nantaba about their operations in particular and the insurance industry in general. What are the key elements in your management style as a manager? I believe in creating an …

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Insurance body cracks whip

By Isaac Khisa Insurers warn on IRA-U’s new guidelines on health insurance Uganda’s move to introduce new guidelines in the medical segment of the insurance industry are likely to hurt the growth of Health Membership Organizations, as the country moves to streamline their operations. The new guidelines, which came into …

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