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Record high insurance premiums in 2015

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Magazine Issue: 
Afro-optimism [3]
Magazine date: 
Jun 2016

According to the Insurance Regulatory Authorities (IRA), insurance premiums witnessed an increase of 21.58% at 733 billion UGX (218.8 million USD) during the year 2015. In 2014, the market had already reported a 9% increase.

The strong progression of the 2015 year is accounted for by the development of local infrastructure, especially some projects such as the hydro-electrical dam, Isimba, Entebbe airport, the “Nile Bridge”, the high-speed railroad between Kampala and Entebbe.

The State has increased considerably the budget allocated to transport and mega works. In fact, the budget went twofold at 3 300 billion UGX (985 million USD) in 2015. Life insurance also reported an important growth of 35.67% in 2015.

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[4] http://www.atlas-mag.net/en/article/the-country-will-host-the-44th-aio-general-assembly
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[6] http://www.atlas-mag.net/en/article/liberty-holdings-is-building-up-in-east-africa