Uganda Insurance Market
Identity
| Population: 45 741 000 inhabitants |  |
| 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 | |
| Turnover | 281.430 millions USD |
| Penetration rate | 0.75% |
| Insurance density | 6 USD |
Structure of the ugandan insurance market
Non-life | 21 |
Life | 9 |
Reinsurance | 2 |
| Total | 32 |
Insurance brokers | 41 |
Reinsurance brokers | 2 |
| Total | 43 |
Data as of 31/12/2019 , Source: Insurance Regularity Authority of Uganda (IRA)
Insurance Regularity Authority of Uganda (IRA) | www.ira.go.ke |
Uganda Insurers Association | www.uia.co.ug |
The ugandan insurance market: evolution of premiums
Figures in million USD| Activities | 2016 | 2017 | 2018 | 2019 | 2020 |
Non-life | 121.527 | 136.958 | 173.319 | 188.486 | 181.670 |
Life | 35.775 | 45.503 | 58.852 | 74.606 | 99.760 |
| Total | 157.302 | 182.461 | 232.171 | 263.092 | 281.430 |
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
