INSURANCE : The Insurance Regulatory Authority of Uganda (IRA) has authorized a total of 143 industry players to conduct insurance business, effective January 2, 2025.
The players include two (2) Reinsurance companies, 20 non-life insurance companies, nine (9) life insurance companies, four (4) micro insurance companies, one (1) Health Membership Organisation (HMO), six (6) Reinsurance Brokers and 49 insurance Brokers.
The others are 20 Bancassurance agents, 11 Loss Assessors, three (3) Loss Adjustors, three (3) Loss Assessor and Loss Adjustors, six (6) Loss Assessors and Risk Advisors, five (5) Loss Adjustors and Risk Advisors, three (3) Risk Advisors, Loss Adjustor and Loss Assessors and one (1) Risk Advisor.
“This is an increase from 139 authorized over the same period in 2024. The growth attributed to the conducive and supportive regulatory environment created by IRA has facilitated Kenbright Insurance Brokers’ transition to Kenbright Reinsurance Brokers, an indication that new entrants in Uganda’s insurance market space are encouraged.” The statement from Insurance Regulatory Authority revealed.
