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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Uganda non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Uganda's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Uganda non-life (P&C) market as well as trends by line of business. Axco analysts also report on Uganda's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes Uganda's insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Uganda, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in Uganda, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in Uganda with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
Following the civil war in Uganda in the 1980s, the insurance industry was essentially restarted with the introduction of the Jubilee insurance company in 1991. From this start, the industry has grown rapidly from a nil base but has yet to reach a meaningful penetration rate. Growth is hampered by the low formal employment ratio with possibly 80% of the employable population working in informal employment such as agriculture. The Ugandan non-life insurance sector has grown well in local currency terms, generally outstripping the country's ....
This is a brief extract of information; more updated information may be available in the latest published report.