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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To remain competitive in the market, ICEA Life Assurance has trained its staff members on reinsurance. The three-day training that took place at the beginning of this month at Royal Suites, Bugolobi was conducted by ZEP -RE, a leading reinsurance company. Julie Zaake, the Head of Human Resource at ICEA
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In a bid to expand operations and distribution of their products, ICEA Group which consists of ICEA General Insurance, ICEA Life Assurance Company Limited and ICEA Asset Management Limited Company has officially launched their Mbale Agency office. The agency office will act as a one-stop centre for operations in the
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ICEA General Insurance Managing Director, John Karionj has said General Products remain key to Uganda’s insurance industry. He made the remarks on May19 during the inauguration of the company’s agency office that is now based at Rumee Towers, Lumumba Avenue. Previously, its agency office has been at Hannington road, Kampala. Speaking
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British global insurer AON has quit 10 African markets including Uganda, citing weak economy that can’t permit its growth. According to a February 20, 2017 statement, Capitalworks, a leading Africa focused and based private equity firm specialising in investing on the continent, is to acquire AON’s shareholding in 10 countries
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Failure to implement existing laws have played a big role in the slow growth of Uganda’s insurance industry, players say. According to the Uganda Insurers Association (UIA), non- enforcement of the compulsory insurances; Motor Third Party Insurance, Workers Compensation Insurance and Marine Insurance have seen Uganda lag behind her counterparts
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British American Tobacco Uganda (BATU) net profit have reduced by 25% to Shs7.8bn in 2016, down from Shs10.4bn recorded in 2015, thanks to the tough economic situation in 2016. Its profit before tax stood at Shs11.1bn, down from Shs11.9bn in 2015. The profit relate to cigarette business only owing to
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