• Latest
  • Trending
  • All
  • News
  • Business
  • Politics
  • Lifestyle
Insurance firms reeling from poor economic performance

Insurance firms reeling from poor economic performance

June 29, 2018
Age limit consultative meetings are moving on smoothly – Police

“I never had a Gamba Nogu in my police career, Chosen book tells my grass to grace story,” Kasingye reveals (video)

July 2, 2022
Jovan Kagezi scoops Shs 60 million in MTN’s Nsindika Njake entrepreneurship show

Jovan Kagezi scoops Shs 60 million in MTN’s Nsindika Njake entrepreneurship show

July 2, 2022
Civil society fault ministry on destroying expired drugs

NDA impounds drugs worth Shs 100 million in Western Uganda

July 2, 2022
CiplaQCIL, Mengo Rotary Blood Bank launch blood donation drive

CiplaQCIL, Mengo Rotary Blood Bank launch blood donation drive

July 2, 2022
Kabuleta rallies public to fight for Mityana fishermen who face eviction

Kabuleta rallies public to fight for Mityana fishermen who face eviction

July 2, 2022
Five ways to celebrate Valentine’s Day when you’re single

“My boyfriend likes it shaven, my sugar daddy likes it bushy. I am confused!”

July 2, 2022
Fashionista Olaide Daniel Named New Abryanz Ambassador

Fashionista Olaide Daniel Named New Abryanz Ambassador

July 2, 2022
Inside Karuma dam, Uganda’s new tourism marvel

Inside Karuma dam, Uganda’s new tourism marvel

July 2, 2022
Museveni extends contracts for Brig Ddamulira, four other  police directors

Museveni extends contracts for Brig Ddamulira, four other  police directors

July 2, 2022
The Wamala art gives a sneak peak of his art prowess ahead of the Guinness Bright House 

The Wamala art gives a sneak peak of his art prowess ahead of the Guinness Bright House 

July 1, 2022
Logo
  • News
    • Business
    • 2021 Elections Watch
      • The Election Podcast
    • Exclusive
    • Investigations
  • Politics
  • Education
  • Security
    • Cyber Security
  • Health
    • Coronavirus outbreak
  • Opinions
    • Columns
      • Parting Shot
      • Two Sides of a Coin
      • Bazanye’s Quick Shots
      • Mable Twegumye Zake’s #BitsOfMe&You
      • But this Year!
      • What Did I Miss?
  • Lifestyle
    • Hatmahz Kitchen
    • Food Hub
    • Let’s Talk About Sex
    • Entertainment
    • Tour & Travel
    • Love Therapist
    • Homes
  • Global
    • Africa
    • Asia
    • Middle East
    • Europe
    • The Americas
  • East Africa
    • Kenya
    • Rwanda
    • Tanzania
    • South Sudan
    • DR Congo
    • Ethiopia
    • Sudan
  • Technology
  • Special Reports
    • Kabaka Mutebi’s 25th Coronation Series
    • Focus on Somalia
    • Sino-Africa
    • Uganda at 56
    • Anti-Corruption Fight
    • Age Limit Map
    • Tuve Ku Kaveera
  • Sports
    • Place-It
    • StarTimes Uganda Premier League
    • Bundesliga
    • World Cup
  • Jobs
No Result
View All Result
Logo
No Result
View All Result
Home News

Insurance firms reeling from poor economic performance

Lydia Nabakooza by Lydia Nabakooza
June 29, 2018
in News
Reading Time: 1 min read
0
Insurance firms reeling from poor economic performance

The Insurance Regulatory Authority (IRA) has revealed that at least 15 insurance companies are on the verge of collapse due to the dire economic situation which has slowed down uptake of insurance services.

Ibrahim Kaddunabi, the chief executive officer of IRA said unless some of these firms invest more capital or seek mergers, they may not live to see the light of day in the coming months.

ADVERTISEMENT

“They have to find ways of surviving,” Kaddunabi said.

AD-03 AD-03 AD-03
ADVERTISEMENT

Some of the failing firms, according to Kaddunabi are:  AIG Uganda, Nova Insurance Company, Rio Insurance Company, First Insurance Company, Pax Insurance Company, Excel Insurance Company , Alliance Insurance Company limited among others.

According to the figures they are below Shs 20 billion in capitalisation.

ADVERTISEMENT

However the general performance of the insurance sector was above average in 2017. Generally, the sector grew by 16% while the total income in the industry  increased to Shs 3.81 billion from Shs 3.4 billion in 2016.

But with growth comes challenges such as failure to do due diligence on some of the claims hence leading to losses.

 

 

 

 

Tags: aigibrahim kaddunabinova insurancerio insurance
ShareTweetSend
Previous Post

School girls petition parliament over sexual harassment, teenage pregnancies and marriages

Next Post

Bridge co-founder wins Business Women of Year Award

Lydia Nabakooza

Lydia Nabakooza

Related Posts

Age limit consultative meetings are moving on smoothly – Police

“I never had a Gamba Nogu in my police career, Chosen book tells my grass to grace story,” Kasingye reveals (video)

by Samuel Muhimba
July 2, 2022
0

Former Police’s Chief Political Commissar, AIGP Asan Kasingye commonly known as Afande Kasingye has revealed that at no time in...

Kabuleta rallies public to fight for Mityana fishermen who face eviction

Kabuleta rallies public to fight for Mityana fishermen who face eviction

by Muhamadi Matovu
July 2, 2022
0

The leader of the National Economic Empowerment Dialogue (NEED), Joseph Kabuleta has rallied all patriotic Ugandans to fight along with...

Fashionista Olaide Daniel Named New Abryanz Ambassador

Fashionista Olaide Daniel Named New Abryanz Ambassador

by NP admin
July 2, 2022
0

Fashion Guru Ahumuza Brian has recruited the services of model Olaide Olasoji Daniel as the ABRYANZ brand ambassador. Olaide will...

Inside Karuma dam, Uganda’s new tourism marvel

Inside Karuma dam, Uganda’s new tourism marvel

by Kenneth Kazibwe
July 2, 2022
0

The Uganda Tourism Board(UTB) has finalized plans aimed at diversifying the country’s tourism products by identifying Karuma hydropower dam into...

Next Post
Bridge co-founder wins Business Women of Year Award

Bridge co-founder wins Business Women of Year Award

  • Trending
  • Comments
  • Latest
“My life is in danger” journalist who broke the story on Speaker’s Shs 2.8 bn cars cries out

“My life is in danger” journalist who broke the story on Speaker’s Shs 2.8 bn cars cries out

June 28, 2022
Museveni to continue with army meetings amidst internal unsettlement rumors

Museveni to continue with army meetings amidst internal unsettlement rumors

June 26, 2022

Pastor who divorced wife for denying him conjugal rights for 10 years advises women to deny men sex if they are not developing

June 28, 2022
Age limit consultative meetings are moving on smoothly – Police

“I never had a Gamba Nogu in my police career, Chosen book tells my grass to grace story,” Kasingye reveals (video)

July 2, 2022
Jovan Kagezi scoops Shs 60 million in MTN’s Nsindika Njake entrepreneurship show

Jovan Kagezi scoops Shs 60 million in MTN’s Nsindika Njake entrepreneurship show

July 2, 2022
Civil society fault ministry on destroying expired drugs

NDA impounds drugs worth Shs 100 million in Western Uganda

July 2, 2022
  • About
  • Advertise
  • Privacy & Policy
  • Careers
Call us: +256-417-720-101
Email: [email protected]

© 2020 Nile Post Uganda Ltd. - A Next Media Services Company.

No Result
View All Result
  • News
    • Business
    • 2021 Elections Watch
      • The Election Podcast
    • Exclusive
    • Investigations
  • Politics
  • Education
  • Security
    • Cyber Security
  • Health
    • Coronavirus outbreak
  • Opinions
    • Columns
      • Parting Shot
      • Two Sides of a Coin
      • Bazanye’s Quick Shots
      • Mable Twegumye Zake’s #BitsOfMe&You
      • But this Year!
      • What Did I Miss?
  • Lifestyle
    • Hatmahz Kitchen
    • Food Hub
    • Let’s Talk About Sex
    • Entertainment
    • Tour & Travel
    • Love Therapist
    • Homes
  • Global
    • Africa
    • Asia
    • Middle East
    • Europe
    • The Americas
  • East Africa
    • Kenya
    • Rwanda
    • Tanzania
    • South Sudan
    • DR Congo
    • Ethiopia
    • Sudan
  • Technology
  • Special Reports
    • Kabaka Mutebi’s 25th Coronation Series
    • Focus on Somalia
    • Sino-Africa
    • Uganda at 56
    • Anti-Corruption Fight
    • Age Limit Map
    • Tuve Ku Kaveera
  • Sports
    • Place-It
    • StarTimes Uganda Premier League
    • Bundesliga
    • World Cup
  • Jobs

© 2020 Nile Post Uganda Ltd. - A Next Media Services Company.