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Tag Archives: IRA

IRA unveils 2023 insurance innovation awards

Kampala, Uganda | JULIUS BUSINGE | The Insurance Regulatory Authority of Uganda has unveiled the 2023 insurance innovation awards for all players licensed by the Authority, including insurers, Health Membership Organisations, Brokers, Bancassurance Agents, Individual Agents and loss assessors. The Uganda Chief Executive Officer, Alhaj Kaddunabbi Ibrahim Lubega said on Nov.23 …

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Insurers Q2 premium surges 17% to Shs 828.9bn

The regulator’s focus is on expanding its customer base and increasing average spending in the insurance sector Kampala, Uganda | JULIUS BUSINGE | Uganda’s insurance sector has shown steady growth, with underwritten premiums increasing from Shs 711.6 billion in the second quarter of 2022 to Shs 828.9 billion in the second …

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REGULATOR: Medical, motor incidents dominate insurance fraud

Kampala, Uganda | THE INDEPENDENT | The Insurance industry is registering increasing cases of fraud with the regulators citing motor vehicle and medical insurance as the most affected. This according to the Uganda Insurance Regulatory Authority is also leading to the high cost of doing business and consequently the cost of …

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EACOP is locally insured: IRA boss

Kampala, Uganda | THE INDEPENDENT | The East African Crude Oil Pipeline secured lead insurers within the country with the approval of the Insurance Regulatory Authority-IRA. The IRA Chief Executive Officer, Alhaj Kaddunabbi Ibrahim Lubega told journalists in Kampala that the insurance question around the project was already resolved. While there have …

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IRA plots compulsory insurance cover for markets, high rising buildings

Kampala, Uganda | THE INDEPENDENT | The Insurance Regulatory Authority-IRA has revealed that they are strategizing to introduce a mandatory insurance cover for markets as well as high-rising buildings. When these plans finalize, this policy will be added to the already compulsory insurance policies like the motor third party, workman’s compensation, and …

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Uganda unveils mortality table for life insurers

Kampala, Uganda | ISAAC KHISA | Insurance Regulatory Authority of Uganda has unveiled the first ever mortality table for life insurance companies in the country to help determine pricing, which may decrease or increase payments popularly known as premiums for new life insurance products and annuities. The table dubbed Uganda …

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Insurance sector boost

Players are changing tactics to deal with the sector’s penetration headache | THE INDEPENDENT | Why has Uganda’s insurance penetration remained below 1% for many years? This is the question that has been asked several times and players continue to scratch their head to answer it. The public will be waiting …

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