Recommendations of the Insurance Commission

The insurance commission recommends that small companies merge with the sector's leaders. As a reminder capital requirement per branch, (Life and Non-Life), for new companies is set at 0.5 million USD. The capital of companies having a license must exceed 250 000 USD per branch in September 2004, and 0.5 million USD in 2006.
According to Uganda's insurance commission (UIC), the bulk of gross premiums achieved by the 18 insurers operating in the country has reached 29 million USD in 2002 (+54% in relation to 1999). The 4 leaders AIG Uganda Ltd, United Assurance, Jubilee and National Insurance Corporation Limited (NIC) made 60% of the turnover.

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