The Ugandan insurance market, a 16% increase in 2017

The Ugandan insurance market generated 737.2 billion UGX (204 million USD) in premiums in 2017, up by 16% compared to 634.8 billion UGX (178.7 million USD) in 2016. This performance is due, in part, to the introduction in 2017 of an agricultural insurance cover which is highly subsidized by the State. The spread of health insurance for employees has also contributed to this growth.

The non-life class of business accounted for 70% of the premiums, increasing by 14,6% from 450.1 billion UGX (126.70 million USD) in 2016 to 516 billion UGX (142.88 million USD) in 2017.

This is the first time in three years that non life insurance has recorded an increase of more than 10%.

Read also :

• Increase of Uganda insurance market turnover in 2016