The Ugandan government cedes its 40% stakes in NIC

The Ugandan government is willing to yield its 40% stakes in National Insurance capital. The turnover written by NIC in 2008 amounts to 13.7 billion UGX (7.154 million USD) while pre-tax profits reached 3.2 billion UGX (1.671 million USD) in 2008. Non life insurance accounts for 89.4% of the portfolio whereas life business represents just 10.6%.