Browsing: Insurance companies

In the years between 2000 and 2010, several insurance companies collapsed and the joke in the industry then was on those clients who were demanding to be served even as the doors were being shut for good.
But industry insiders, like yours truly, knew companies that were in the red and it was only a matter of time before they were shut down. Most insurance consumers did not have a clue as to what was going on. …

Uganda’s insurance companies raised about $144.54 million in the second quarter of 2020 in gross written premiums, a 7 percent increase from about $133.9 million during the same period in 2019.

According to data from the Insurance Regulatory Authority (IRA) showing performance of the insurance sector from April to June this year, indicates that across all sectors there was an increase in premiums despite the impacts of COVID-19 on economies.

General insurance is also known as non-life insurance registered a 3.4 percent increase in gross written premiums to about $93.9 million in 2020 from about $90.9 million in 2019.

Health membership organizations recorded $10 million in 2020 compared to $9.47 million in the same period in 2019.

Also Read: Taking a looking at Tanzania insurance industry

Life insurance, which has been growing exponentially, collected about $40.49 million in the second quarter of 2020, a 20 percent increase from 2019.

However, …

Insurance industry to aggressively embrace technology and help expand access to insurance services…