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The Insurance Industry in Uganda, Key Trends and Opportunities to 2017

Uganda insurance market: Latest market analysis presented


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2014-03-05 14:07:02 - The Insurance Industry in Uganda, Key Trends and Opportunities to 2017 - a new market research report on companiesandmarkets.com

The Ugandan insurance industry recorded a positive growth rate during the review period and was supported by relatively stable macro-economic conditions, a favorable investment climate and economic growth. The total number of policies issued in Uganda grew in 2010 and in 2011. The industry is dominated by the non-life insurance segment. For low income earners, Uganda has promoted micro insurance products. However, there are many challenges in operating this kind of product such as a lack of public awareness and inefficient distribution channels. The Ugandan life insurance segment is highly concentrated with the five-leading insurers representing a market share of more than 90% in 2011 in gross written premium terms.

Key Highlights

• In 2011, the Insurance Act was modified and a

 

 

number of amendments were brought into force regarding deposits, health insurance premiums, membership of the Insurance Institute of Uganda (IIU) and the Policyholder Compensation Fund
• These new guidelines focus more on insured interests and its hoped they will instill a level of professionalism and discipline into the industry
• The main insurance classes in the non-life insurance segment are motor, fire, engineering, marine and aviation, workers compensation, burglary and public liability
• Due to changing market demands, the Ugandan insurance industry is introducing new insurance products to enhance its customer base
• The strengths of the Ugandan insurance sector lie in its vibrant regulatory framework
• Travel insurance in Uganda is expected to record significant growth over the forecast period

Report Scope

This report provides a comprehensive analysis of the insurance industry in Uganda:

• It provides historical values for the Ugandan insurance industry for the reports 2008–2012 review period and forecast figures for the 2012–2017 forecast period
• It offers a detailed analysis of the key segments and categories in the Ugandan insurance industry, along with industry forecasts until 2017
• It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions
• It profiles the top insurance companies in Uganda and outlines the key regulations affecting them

Reasons to Buy

• Make strategic business decisions using in depth historic and forecast industry data related to the Ugandan insurance industry and each segment within it
• Assess the competitive dynamics in the Ugandan insurance industry
• Understand the demand-side dynamics, key market trends and growth opportunities within the Ugandan insurance industry
• Identify the growth opportunities and market dynamics within key segments
• Gain insights into key regulations governing the Ugandan insurance industry and its impact on companies and the industrys future

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