Slower growth in the insurance sector

The Ugandan professionals have launched a real wake up call against the slowdown of the insurance sector's growth in the course of the two recent years. While the industry's growth rate reached 24,21% in 2004, it went down to 12,45% in 2006. Apart from the hardly-promising national economic context, the sector's poor show is accounted for by the generalisation of under-rating, a practice that weakened the companies. On the initiative of the Uganda Insurers' Association, an awareness-raising campaign was launched with a view to extending insurance cover through the diversification of offer, especially micro insurance designed to low-income populations.