Ugandan insurance market: 2020 results

The Ugandan insurance market has recorded a turnover increase of 5.7% in 2020. Written premiums went from 973.58 billion UGX (261 million USD) by the end of 2019 to 1 030 billion UGX (281.43 million USD) by the end of 2020.

This growth is driven by the non-life class of business which alone accounts for 664.9 billion UGX (181.67 million USD) of premiums in 2020, representing 65% of the market's total premium income.

The supervisory authority (IRA) is forecasting a turnover improvement in 2021.