Insurance Regulatory Authority

NIC Holdings speaks out on suspension of NIC Life Assurance Licence in Uganda 

by Nelson NambooleNews & AnalysisSeptember 5, 2022September 5, 2022

NIC Holdings has come out to explain the suspension of the operating licence for NIC Life Assurance Company Limited (NIC Life). The Insurance Regulatory Authority – IRA recently suspended the…

Stanbic Bank retains 22% bancassurance market lead for 2021

by CEO ReporterCompany NewsNews & AnalysisMarch 19, 2022March 19, 2022

Bancassurance contributed UGX103.5 billion to the UGX1.1 trillion Gross Written Premium (GWP) recorded by Uganda’s insurance sector in 2021 with Stanbic Bank accounting for 22 percent to consolidate its position…

Probably Uganda’s most innovative insurer—Prudential Uganda wins 3 awards at regulator’s 2021 Insurance Innovation Awards

by Nelson NambooleCompany NewsNews & AnalysisThe Big StoryMarch 16, 2022March 16, 2022

Prudential Uganda has won three awards; the Most Innovative Life Insurance Product, Most Innovative Insurance Agent and the Overall Judges’ Special Award in the second edition of the Insurance Innovation…

VisionFund Uganda partners with Insurtech Turaco to provide affordable and inclusive insurance for its 40,000 Ugandan customers

by Muhereza KyamuteteraCompany NewsNews & AnalysisThe Big StoryMarch 4, 2022March 9, 2022

VisionFund Uganda and Turaco Insurance Brokers Limited (T/A Turaco) are proud to officially announce the launch of their partnership with a microinsurance product called “VisionFund Cares”. The product offering, available to over…

Stanbic dominates as bancassurance sees 54% growth in Q2

by CEO ReporterCompany NewsNews & AnalysisSeptember 20, 2021September 20, 2021

The Insurance Regulatory Authority of Uganda (IRA) has published industry performance for the period April-June 2021 (Q2) with Bancassurance recording a 54% growth dominated by Stanbic Bank Uganda which consolidated…

Every great vision needs solid people: Meet IRA’s senior executives daring to drive insurance penetration to 1.4% by 2022

by Muhereza KyamuteteraCompany NewsAugust 24, 2020August 24, 2020

ALHAJ KADDUNABBI IBRAHIM LUBEGA Chief Executive Officer Alhaj Kaddunabbi Ibrahim Lubega is a Fellow and Certified Insurance Professional of the Australian and New Zealand Institute of Insurance and Finance (ANZIIF)…

HOW WE MADE IT: ICEA Life Chairman, James Ndegwa tells how Uganda’s leading insurance and asset management business was built

by Muhereza KyamuteteraCompany NewsFinanceThe Big StoryMarch 30, 2020March 30, 2020

In November 1964, soon after the completion of political independence in East African, three companies, Eagle Star Insurance, the Welfare Insurance, and the New Zealand Insurance Company merged their regional…

Prudential to cover Covid-19 expenses for its customers

by Muhereza KyamuteteraCompany NewsThe Big StoryMarch 30, 2020

Prudential has today, March 30, 2020, announced a cash pay-out to its customers, should they, unfortunately, be diagnosed with Covid-19. This pay-out is intended to help their family manage expenses…

CEO OF THE WEEK: Meet Alhaj Kaddunabbi, the insurance regulator who has grown the industry by 257%

by Muhereza KyamuteteraThe Big StoryMarch 1, 2020March 1, 2020

Alhaj Kaddunabbi Ibrahim Lubega has been the Chief Executive Officer of the Insurance Regulatory Authority (IRA) since 2010. Under his leadership, the industry has undergone, unprecedented and robust growth. Non-life…

Who are the top 10 non-life insurance companies in Uganda?

by Muhereza KyamuteteraCompany NewsFinanceThe Big StoryJune 2, 2019June 5, 2019

The top 10 non-life insurance companies, control 87.7% of the category, having underwritten UGX499.8 billion in premiums- out of a total of UGX569.96bn in non-life category premiums. They are: Jubilee…