Uganda Insurance Market

Identity

Population: 45 741 000 inhabitantsUganda flag
PIB : 37.372 billion USD
GDP per inhabitant: 817 USD
GDP growth rate: 2.85 %
Inflation rate: 3.8 %

Data as of 31/12/2019, Source: World Bank

The ugandan insurance market: main indicators

 2020
Turnover281.430 millions USD
Penetration rate0.75%
Insurance density6 USD

Structure of the ugandan insurance market

Insurance and reinsurance companies
Non-life
21
Life
9
Reinsurance
2
Total32
Intermediaries
Insurance brokers
41
Reinsurance brokers
2
Total43

Data as of 31/12/2019 , Source: Insurance Regularity Authority of Uganda (IRA)

Supervisory authority
Insurance Regularity Authority of Uganda (IRA)
www.ira.go.ke
Professional body
Uganda Insurers Association
www.uia.co.ug

The ugandan insurance market: evolution of premiums

Figures in million USD
Activities20162017201820192020
Non-life
121.527136.958173.319188.486181.670
Life
35.77545.50358.85274.60699.760
Total157.302182.461232.171263.092281.430

Source: Insurance Regularity Authority of Uganda (IRA) & Atlas Magazine

Exchange rate as at 31/12/2016: 1 UGX = 0.00027 USD ; at 31/12/2017: 1 UGX = 0.00027 USD ; at 31/12/2018: 1 UGX = 0.00027 USD ; at 31/12/2019: 1 UGX = 0.00027 USD ; at 31/12/2020: 1 UGX = 0.00027 USD

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