Financial strength and renewed confidence

According to the Uganda Insurance Commission (UIC), the insurance sector is reporting a financial soundness as well as a renewed confidence. The total volume of underwritten premiums has risen from 64.7 billion UGX (35.6 million USD) in 2003 - 2004 to 84.4 billion UGX (46.5 million USD) in 2004, that is, a 20% increase.
Property insurance (16 million USD), motor (13 million USD) and fire (7.9 million USD) account for the most underwritten classes of business.
The American group AIG tops the list with a premium volume of 10.1 million USD, followed by United Assurance (6.47 million USD) and Jubilee Insurance (5.4 million USD).