The Ugandan insurance industry is forecast to continue on its positive growth trend in 2026, driven by increased public awareness and public trust, according to the CEO of the Insurance Regulatory Authority (IRA), Mr Kaddunabbi Ibrahim Lubega.
The GWP generated by the industry as a whole increased by 13% to UGX1.57tn ($454m) in the first nine months of 2025, compared to UGX1.39tn posted in the corresponding period in 2024. GWP rose by 10% year on year to UGX1.76tn in 2024.
Mr Kaddunabbi, commenting on developments in the insurance market in 2025, said that two insurance companies entered the market, reported the news organisation New Vision. The newcomers are Tamini General Insurance Uganda and AAR General Insurance Uganda. Tamini is the country’s first takaful company. AAR converted its licence from that of a Health Membership Organisation to one for general insurance.
2025 also saw several insurance M&As. Among them, Jubilee Allianz General Insurance Company merged with Sanlam General Insurance to form one company (as part of a pan-African groupwide merger); Jubilee Health Insurance Company of Uganda was amalgamated into Jubilee Life Insurance Company of Uganda ;while Marsh Insurance Brokers Uganda merged with OLEA Uganda Insurance Brokers.
Microinsurance showed significant growth, driven by increased awareness and product innovation. In 2024, it grew by 131.42% to UGX1.64bn from UGX700m in 2023.
Separately, the CEO of the Uganda Insurers Association (UIA), Mr Jonan Kisakye, said that in 2026, innovation and digital transformation will remain central to the industry’s future. One significant milestone in 2025 was the launch of a digital system for motor third-party insurance that allows motorists to purchase and verify their policies online.
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