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Starting of the microinsurance business in the country

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Magazine Issue: 
The digital revolution [3]
Magazine date: 
Jun 2015

The Insurance Regulatory Authority (IRA) will soon start licencing microinsurance companies. This initiative will enable low income earners to access insurance services at affordable prices.

Micro-insurers are required to have a minimum capital of 100 million UGX ( 30 880 USD) to start their business. As a reminder, the insurance penetration rate in Uganda stands, currently at 0.85%. For the year 2014, the overall written premiums are estimated at 500 billion UGX (154 million USD).

Mon, 29/06/2015 - 11:56

Source URL: https://www.atlas-mag.net/en/article/starting-of-the-microinsurance-business-in-the-country

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