Ugandan insurers post higher half-year turnover

Insurance companies operating in Uganda closed the first half of 2024 with a turnover of 933.8 billion UGX (252.2 million USD), up 12.65% over one year.

The market is dominated by the non-life segment, which recorded 542.3 billion UGX (146 million USD) in written premiums as at 30 June 2024, or 58.07% of the overall portfolio.

Life premiums amounted to 357.8 billion UGX (97 million USD), representing 38.32% of total underwriting in the first half of the current year.

The remaining 3.61% was accounted for by health maintenance organizations (HMOs) and microinsurance companies, with 3.54% and 0.07% respectively.