Uganda: Draft bill authorizing bancassurance

The regulators have submitted a draft bill introducing bancassurance in the country. Banks will, henceforth, be authorized to market insurance products. This news is source of concern to insurers and brokers who are afraid that their best customers will desert them to join banking institutions.

The amendment, poised to see the light of day very soon, will push upwards the insurance penetration which is stagnating at 0.8% of GDP. Insurers are strained by a crisis of image which has hindered their development.

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