African Reinsurance Corporation ("Africa Re") announces its membership of Africa Finance Corporation ("AFC"), and becomes the first multi-lateral financial institution to invest in AFC. Africa Re, owned by 41 African states, approximately 107 insurance/reinsurance companies and non-African strategic investors, is the continent's premier reinsurance corporation, operating across 41 African countries.
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President Yoweri Museveni has said that a country’s human resource is greater than any natural resource and must be nurtured and protected. He said this coupled with the unity and stability of our nation is the best insurance for its people. The President was addressing the first Special Forces Command
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Uganda is such an interesting country where wonders never cease! On Tuesday, the leadership of Parliament decided to table a motion to pay tribute to Alhaj Ibrahim Kaddunabbi Lubega, the Insurance Regulatory Authority (IRA) Executive Director for being elected President of African Insurance Organisation. However, the decision to include this
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By Aloysious Kasoma Diamond Trust Bank Uganda has received a license from Insurance Regulatory Authority (IRA) to provide Bancassurance as a product on the Ugandan market. Bancassurance simply means the selling of insurance products and services by banks. Bancassurance takes effect in Uganda following the passing of the Financial Institutions
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Sanlam Emerging Markets Proprietary Limited (SEM) on November 21 announced that it had successfully concluded the transaction whereby its subsidiary, Sanlam General Insurance Uganda Limited (SGIU), acquired close to 100% interest in the share capital of Lion Assurance Company Limited (LAC) in Uganda from Trans Industries Proprietary Limited and certain
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Unmarried couples in the East African country of Burundi have until the end of the year to legalise their relationships through church or state registrations. In May, President Pierre Nkurunziza signed a new law which the government says will help protect women and create a more moral society, but some disagree. The government insists
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Following passage of the Financial Institutions Amendment bill 2016 which included a provision for Bancassurance and the subsequent approval of the regulatory guidelines by the Bank of Uganda (BoU), Stanbic Bank Uganda has become the first bank in Uganda to be granted a license to provide Bancassurance as a product
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The International Finance Corporation (IFC), the World Bank’s private arm, has completed buying a 10.3% stake in Nairobi-based insurance firm Britam. Britam announced the completion of the transaction set in motion in January in a notice on Friday, reports the Daily Nation. The shareholding guarantees IFC a board seat. “...Britam
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By Lydia Kayonde, One of the most significant changes in financial services over the past few decades has been the growth and adoption of Bancassurance. Whileit may sound like a complex word, it isa simple term coined by combining two words, bank and insurance. The sale and distribution of insurance
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Insurance regulators from the East African Community meet in Arusha on Thursday in efforts to adopt common regulatory standards meant to protect policyholders and ensure stability of the sector. The meeting, called by the East African Insurance Supervisory Association (EAISA), will explore emerging issues including common regulatory standards, according to
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