Uganda’s Insurance Grows 11.29% as Equi-Life Boosts Inclusion

Uganda’s Insurance Grows 11.29% as Equi-Life Boosts Inclusion

Uganda’s insurance sector continues to show strong growth, with gross written premiums rising from UGX 1.44 trillion in 2022 to UGX 1.6 trillion in 2023—an 11.29% increase—according to the Insurance Regulatory Authority of Uganda’s (IRA) latest performance report. Despite these gains, insurance penetration remains low, with only 4.5% of Ugandans covered as of 2022. To close this gap, the sector is increasingly relying on innovative distribution …

Equi-Life To Increase Insurance Penetration In Uganda » Business Focus

Uganda’s insurance sector has demonstrated significant growth in recent years, with gross written premiums increasing from UGX 1.44 trillion in 2022 to UGX 1.6 trillion in 2023 according the Insurance Regulatory Authority of Uganda (IRA) performance report reflecting an 11.29% increase. Despite this progress, insurance penetration in Uganda remains relatively low. As of 2022, only about 4.5% of the population was covered by insurance.   To addre…