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Article: Uganda: Insurance Sector in Marginal Growth for 2007.
- Article from:
- TendersInfo
- Article date:
- July 16, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: pinto03
The insurance industry in Uganda grew by 22.9 per cent in 2007, earning Ush23 billion ($12.1 million) more in premiums than it did in 2006.The 20 insurance companies wrote Ush125.7 billion ($71 million), 23 per cent rise from Ush102 billion ($58.2 million) in gross premium for the previous year.However, this is still low compared with Kenya, which writes in excess of $500 million in premiums annually.
Insurance experts say the market is operating below par and in order to live to its potential there is need to raise per capita premiums if Uganda is to become an attractive emerging market for big capital. Solomon Rubondo, chair of the ...