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The Insurance Industry in Uganda, Key Trends and Opportunities to 2020

The Insurance Industry in Uganda, Key Trends and Opportunities to 2020

Synopsis

Timetric’s 'The Insurance Industry in Uganda, Key Trends and Opportunities to 2020' report provides a detailed analysis of the Ugandan insurance industry.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review (2011–2015) and forecast periods (2015–2020).

The report also gives a comprehensive overview of the Ugandan economy and demographics, and provides detailed information on the competitive landscape in the country. It also includes analysis of the impact of natural hazards on the insurance industry.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations and recent changes in the regulatory structure.

Summary

Timetric’s 'The Insurance Industry in Uganda, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Ugandan insurance industry, including:

  • An overview of the Ugandan insurance industry
  • The Ugandan insurance industry's growth prospects by segment and category
  • A comprehensive overview of the Ugandan economy and demographics
  • Details of the competitive landscape in the Ugandan insurance industry
  • Details of regulatory policy applicable to the Ugandan insurance industry
  • Analysis of natural hazards in Uganda
Scope

This report provides a comprehensive analysis of the insurance industry in Uganda:
  • It provides historical values for the Ugandan insurance industry for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.
  • It offers a detailed analysis of the key segments in the Ugandan insurance industry, with market forecasts to 2020.
  • It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions.
  • It profiles the top insurance companies in Uganda, and highlights recent developments.
  • It covers the economy and demographic structure of Uganda.
  • It analyzes the impact of natural hazards in the Ugandan insurance industry.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the Ugandan insurance industry and each segment and category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Ugandan insurance industry.
  • Assess the competitive dynamics in the Ugandan insurance industry.
  • Identify growth opportunities and market dynamics in key segments.
  • Gain insights into key regulations governing the Ugandan insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • On July 10, 2016, the Insurance Regulatory Authority of Uganda (IRA) proposed an increase in the indemnity limit for third-party motor insurance.
  • The IRA issued new draft Insurance (Bancassurance) Regulations 2016, which will allow commercial banks to sell insurance products.
  • On February 2016, the Financial Institutions Act was introduced an amended to allow Takaful insurance in the country
  • The non-life segment accounted for 58.6% of the industry's gross written premium in 2015.


  • Key Facts and Highlights
    • Table Ugandan Insurance Industry - Key Facts, 2015
    • Table Ugandan Insurance Industry - Segment Shares of the Top Insurers, 2014
  • Executive Summary
  • Economy and Demography
    • Table Ugandan Government Credit Ratings
  • Industry Outlook
    • Regional Comparison
    • Industry Indicators
      • Gross written premium
        • Table Ugandan Insurance Industry - Gross Written Premium by Segment (UGX Billion), 2011-2015
        • Table Ugandan Insurance Industry - Gross Written Premium by Segment (UGX Billion), 2015-2020
        • Table Ugandan Insurance Industry - Density (Direct Written Premium Per Capita) by Segment (UGX), 2011-2015
        • Table Ugandan Insurance Industry - Density (Direct Written Premium Per Capita) by Segment (UGX), 2015-2020
      • Policies sold
        • Table Ugandan Insurance Industry - Number of Policies Sold by Segment (Thousand), 2011-2015
        • Table Ugandan Insurance Industry - Number of Policies Sold by Segment (Thousand), 2015-2020
      • Claims
        • Table Ugandan Insurance Industry - Paid Claims by Segment (UGX Billion), 2011-2015
        • Table Ugandan Insurance Industry - Paid Claims by Segment (UGX Billion), 2015-2020
      • Assets and investments
        • Table Ugandan Insurance Industry - Total Assets by Segment (UGX Billion), 2011-2015
        • Table Ugandan Insurance Industry - Total Assets by Segment (UGX Billion), 2015-2020
        • Table Ugandan Insurance Industry - Non-Life Insurance Investment Portfolio (UGX Billion), 2011-2015
        • Table Ugandan Insurance Industry - Non-Life Insurance Investment Portfolio (UGX Billion), 2015-2020
        • Table Ugandan Insurance Industry - Personal Accident and Health Insurance Investment Portfolio (UGX Billion), 2011-2015
        • Table Ugandan Insurance Industry - Personal Accident and Health Insurance Investment Portfolio (UGX Billion), 2015-2020
  • Life Insurance Outlook
    • Individual Life Insurance
      • Gross written premium
        • Table Ugandan Individual Life Insurance - Gross Written Premium (UGX Billion and US$ Million), 2011-2015
        • Table Ugandan Individual Life Insurance - Gross Written Premium (UGX Billion and US$ Million), 2015-2020
      • Policies sold
        • Table Ugandan Individual Life Insurance - Number of Active Policies (Thousand), 2011-2015
        • Table Ugandan Individual Life Insurance - Number of Active Policies (Thousand), 2015-2020
    • Group Life Insurance
      • Gross written premium
        • Table Ugandan Group Life Insurance - Gross Written Premium (UGX Billion and US$ Million), 2011-2015
        • Table Ugandan Group Life Insurance - Gross Written Premium (UGX Billion and US$ Million), 2015-2020
      • Policies sold
        • Table Ugandan Group Life Insurance - Number of Active Policies (Thousand), 2011-2015
        • Table Ugandan Group Life Insurance - Number of Active Policies (Thousand), 2015-2020
  • Non-Life Insurance Outlook
    • Property Insurance
      • Gross written premium
        • Table Ugandan Property Insurance - Gross Written Premium (UGX Billion and US$ Million), 2011-2015
        • Table Ugandan Property Insurance - Gross Written Premium (UGX Billion and US$ Million), 2015-2020
      • Policies sold
        • Table Ugandan Property Insurance - Number of Active Policies (Thousand), 2011-2015
        • Table Ugandan Property Insurance - Number of Active Policies (Thousand), 2015-2020
      • Profitability
        • Table Ugandan Property Insurance - Loss Ratio (%), 2011-2015
        • Table Ugandan Property Insurance - Loss Ratio (%), 2015-2020
    • Motor Insurance
      • Gross written premium
        • Table Ugandan Motor Insurance - Gross Written Premium (UGX Billion and US$ Million), 2011-2015
        • Table Ugandan Motor Insurance - Gross Written Premium (UGX Billion and US$ Million), 2015-2020
      • Policies sold
        • Table Ugandan Motor Insurance - Number of Active Policies (Thousand), 2011-2015
        • Table Ugandan Motor Insurance - Number of Active Policies (Thousand), 2015-2020
      • Profitability
        • Table Ugandan Motor Insurance - Loss Ratio (%), 2011-2015
        • Table Ugandan Motor Insurance - Loss Ratio (%), 2015-2020
    • Liability Insurance
      • Gross written premium
        • Table Ugandan Liability Insurance - Gross Written Premium (UGX Billion and US$ Million), 2011-2015
        • Table Ugandan Liability Insurance - Gross Written Premium (UGX Billion and US$ Million), 2015-2020
      • Policies sold
        • Table Ugandan Liability Insurance - Number of Active Policies (Thousand), 2011-2015
        • Table Ugandan Liability Insurance - Number of Active Policies (Thousand), 2015-2020
      • Profitability
        • Table Ugandan Liability Insurance - Loss Ratio (%), 2011-2015
        • Table Ugandan Liability Insurance - Loss Ratio (%), 2015-2020
    • Marine, Aviation and Transit Insurance
      • Gross written premium
        • Table Ugandan Marine, Aviation and Transit Insurance - Gross Written Premium (UGX Billion and US$ Million), 2011-2015
        • Table Ugandan Marine, Aviation and Transit Insurance - Gross Written Premium (UGX Billion and US$ Million), 2015-2020
      • Policies sold
        • Table Ugandan Marine, Aviation and Transit Insurance - Number of Active Policies (Thousand), 2011-2015
        • Table Ugandan Marine, Aviation and Transit Insurance - Number of Active Policies (Thousand), 2015-2020
      • Profitability
        • Table Ugandan Marine, Aviation and Transit Insurance - Loss Ratio (%), 2011-2015
        • Table Ugandan Marine, Aviation and Transit Insurance - Loss Ratio (%), 2015-2020
  • Personal Accident and Health Insurance Outlook
    • Personal Accident and Health Insurance
      • Gross written premium
        • Table Ugandan Personal Accident and Health Insurance - Gross Written Premium (UGX Billion and US$ Million), 2011-2015
        • Table Ugandan Personal Accident and Health Insurance - Gross Written Premium (UGX Billion and US$ Million), 2015-2020
      • Policies sold
        • Table Ugandan Personal Accident and Health Insurance - Number of Active Policies (Thousand), 2011-2015
        • Table Ugandan Personal Accident and Health Insurance - Number of Active Policies (Thousand), 2015-2020
      • Profitability
        • Table Ugandan Personal Accident and Health Insurance - Loss Ratio (%), 2011-2015
        • Table Ugandan Personal Accident and Health Insurance - Loss Ratio (%), 2015-2020
  • Reinsurance Outlook
    • Premium Ceded
      • Table Ugandan Reinsurance - Premium Ceded by Insurance Segment (UGX Billion), 2011-2015
      • Table Ugandan Reinsurance - Premium Ceded by Insurance Segment (UGX Billion), 2015-2020
  • Distribution Channel Outlook
  • Natural Hazards
    • Flooding
    • Droughts
    • Epidemics
    • Wildfires
    • Exposure
  • Competitive Landscape
    • Table Ugandan Insurance Industry - Segment Shares (%) of Leading Life Insurers, 2015
    • Table Ugandan Insurance Industry - Segment Shares (%) of Leading Non-Life Insurers, 2015
    • Company Profiles
      • Liberty Life Assurance Uganda Ltd - company overview
        • Table Liberty Life Assurance Uganda Ltd - Key Facts
      • UAP Life Assurance Company Ltd - company overview
        • Table UAP Life Assurance Company Ltd - Key Facts
      • Jubilee Insurance Company of Uganda Ltd - company overview
        • Table Jubilee Insurance Company of Uganda Ltd - Key Facts
      • UAP Insurance Company Ltd - company overview
        • Table UAP Insurance Company Ltd - Key Facts
      • AIG Uganda Insurance Company Ltd - company overview
        • Table AIG Uganda Insurance Company Ltd - Key Facts
  • Governance, Risk and Compliance
    • Table Uganda - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table Uganda - Life Insurance Regulatory Framework
      • Property insurance
        • Table Uganda - Property Insurance Regulatory Framework
      • Motor insurance
        • Table Uganda - Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Uganda - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Motor third party liability insurance
      • Workers' compensation insurance
    • Supervision and Control
      • International Association of Insurance Supervisors (IAIS)
      • African Insurance Organization (AIO)
      • Insurance Regulatory Authority of Uganda (IRA)
      • Uganda Insurers Association (UIA)
    • Non-Admitted Insurance Regulation
      • Overview
      • Intermediaries
      • Market practices
      • Fines and Penalties
    • Company Registration and Operations
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margin
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Uganda - Corporate Tax Rates for the Financial Year 2016
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution (ADR)
  • Databook
    • Life Insurance
      • Policies and premium
        • Table Ugandan Life Insurance - Policies and Premium, 2011-2015
        • Table Ugandan Life Insurance - Policies and Premium, 2015-2020
      • Claims and expenses
        • Table Ugandan Life Insurance - Claims and Expenses, 2011-2015
        • Table Ugandan Life Insurance - Claims and Expenses, 2015-2020
      • Assets and investments
        • Table Ugandan Life Insurance - Assets and Investments, 2011-2015
        • Table Ugandan Life Insurance - Assets and Investments, 2015-2020
      • Individual life insurance
        • Table Ugandan Life Insurance - Individual Life Insurance, 2011-2015
        • Table Ugandan Life Insurance - Individual Life Insurance, 2015-2020
      • Individual life insurance by product
        • Table Ugandan Life Insurance - Individual Life Insurance by Product, 2011-2015
        • Table Ugandan Life Insurance - Individual Life Insurance by Product, 2015-2020
      • Group life insurance
        • Table Ugandan Life Insurance - Group Life Insurance, 2011-2015
        • Table Ugandan Life Insurance - Group Life Insurance, 2015-2020
    • Non-Life Insurance
      • Policies and premium
        • Table Ugandan Non-Life Insurance - Policies and Premium, 2011-2015
        • Table Ugandan Non-Life Insurance - Policies and Premium, 2015-2020
      • Claims and expenses
        • Table Ugandan Non-Life Insurance - Claims and Expenses, 2011-2015
        • Table Ugandan Non-Life Insurance - Claims and Expenses, 2015-2020
      • Assets and investments
        • Table Ugandan Non-Life Insurance - Assets and Investments, 2011-2015
        • Table Ugandan Non-Life Insurance - Assets and Investments, 2015-2020
      • Property insurance
        • Table Ugandan Non-Life Insurance - Property Insurance, 2011-2015
        • Table Ugandan Non-Life Insurance - Property Insurance, 2015-2020
      • Property insurance by product
        • Table Ugandan Non-Life Insurance - Property Insurance by Product, 2011-2015
        • Table Ugandan Non-Life Insurance - Property Insurance by Product, 2015-2020
      • Motor insurance
        • Table Ugandan Non-Life Insurance - Motor Insurance, 2011-2015
        • Table Ugandan Non-Life Insurance - Motor Insurance, 2015-2020
      • Liability insurance
        • Table Ugandan Non-Life Insurance - Liability Insurance, 2011-2015
        • Table Ugandan Non-Life Insurance - Liability Insurance, 2015-2020
      • Marine, aviation and transit insurance
        • Table Ugandan Non-Life Insurance - Marine, Aviation and Transit Insurance, 2011-2015
        • Table Ugandan Non-Life Insurance - Marine, Aviation and Transit Insurance, 2015-2020
    • Personal Accident and Health Insurance
      • Policies and premium
        • Table Ugandan Personal Accident and Health Insurance - Policies and Premium, 2011-2015
        • Table Ugandan Personal Accident and Health Insurance - Policies and Premium, 2015-2020
      • Claims and expenses
        • Table Ugandan Personal Accident and Health Insurance - Claims and Expenses, 2011-2015
        • Table Ugandan Personal Accident and Health Insurance - Claims and Expenses, 2015-2020
      • Assets and investments
        • Table Ugandan Personal Accident and Health Insurance - Assets and Investments, 2011-2015
        • Table Ugandan Personal Accident and Health Insurance - Assets and Investments, 2015-2020
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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