Insurance is often misunderstood and overlooked in Uganda, but its value cannot be overstated. It is a financial safety net, protecting families, businesses, and livelihoods against unforeseen risks. However, insurance penetration in Uganda remains low, a challenge that calls for innovation, awareness, and strategic collaboration.
With stakeholder engagement being high on our agenda as a way to improve the perception and penetration of insurance in the country, the Uganda Insurers Association (UIA) led by our Chairperson, Ms. Ruth Namuli & CEO, Jonan Kisakye, met with Buganda Kingdom officials at Bulange, Mengo. This stakeholder engagement, held on 2nd April, 2025 at the Katikkiro’s Office, was a pivotal moment in exploring how collaboration between UIA and Buganda Kingdom could drive insurance adoption within the kingdom and across the country. Here’s a closer look at what was discussed.
During the discussions, Deputy Katikkiro - Minister for Finance, Investments, Planning and Economic Development, Owek. Waggwa Nsibirwa, welcomed us and praised the UIA for it’s efforts to expand insurance services. However, he didn’t shy away from addressing the challenges faced by the Insurance Industry, emphasizing the need for more innovation and awareness campaigns to change this status quo.
He highlighted Munno Mukabi, Buganda Kingdom’s microinsurance product developed in partnership with Liberty Insurance, as a shining example of what collaboration can achieve. “This product shows that insurance can be affordable and accessible to ordinary Ugandans,” he said. Owek. Waggwa Nsibirwa also encouraged insurers to explore solutions like Medical Co-Insurance, to ably manage risk and make health insurance more affordable for everyone.
Buganda Kingdom’s grassroots networks and the trust of its people make it an ideal partner for promoting insurance solutions. Owek. Waggwa Nsibirwa pointed out that farmers and business owners, in particular, could greatly benefit from products like crop and livestock insurance. “These solutions can protect livelihoods and ensure that Ugandans are better prepared for unexpected challenges,” he said. The Deputy Katikkiro urged UIA to collaborate with the Kingdom to develop tailored solutions. “Buganda Kingdom is home to a large portion of Uganda’s business community, making it a strategic partner for insurance expansion,” he said.
The Katikkiro of Buganda Kingdom, Owek. Charles Peter Mayiga, shared a personal story that underscored the importance of insurance. He recounted a near-fire incident at his home in 2007, which served as a wake-up call. It made me realize that insurance isn’t just for others, it’s something everyone should take seriously,” he said. He revealed that anyone engaged in meaningful activity needs four cardinal people: a Doctor, a Lawyer, an Accountant and an Insurer. Elaborating on the need for an insurer, he explained that risk is part and parcel of business.
The Katikkiro also highlighted a key challenge in the industry: delayed claim settlements. “This remains a significant issue,” he noted and urged insurers to improve efficiency in handling claims to build public trust.
Owek. Charles Peter Mayiga thanked UIA for supporting the Kingdom’s fight against HIV/AIDS through supporting the Kabaka Birthday Run with a cheque worth UGX. 5 Million Shillings, thus the UIA and the Industry at large’s commitment to Corporate Social Responsibility. He further emphasized prioritizing healthy living & having Health Insurance.
Speaking on behalf of UIA, our Chairperson Ms. Ruth Namuli expressed gratitude for the opportunity to collaborate with Buganda Kingdom. She congratulated the Katikkiro of Buganda Owek. Charles Peter Mayiga on his successful economic & social development initiatives for Buganda Kingdom like the Emwanyi Terimba Project, the Etofaali Project, the Kabaka Birthday Run, Muganzirwazza & Masengere Buildings, the Masaza Cup, Weerinde Insurance Brokers, among others.
Ms. Namuli highlighted the progress made by the insurance sector, with the average industry growth standing at about 11%, Gross Written Premiums of approximately UGX. 1.6 Trillion, claims paid amounting to UGX. 820 Billion and contributing about UGX. 520 Billion in taxes. However, she acknowledged the challenges that persist, such as weak enforcement of mandatory insurance policies and public mistrust. “Only about 500,000 Ugandans are currently covered by health insurance,” she revealed, emphasizing the need to increase uptake.
She outlined UIA’s ongoing initiatives, including the Agriculture Insurance Consortium, which has already enrolled 800 farmers, and the mandatory Local Marine Cargo and Goods in Transit Insurance for importers. Looking ahead, she expressed optimism that partnerships like this one with Buganda Kingdom would accelerate insurance adoption. “We seek the Kingdom’s support in driving more insurance uptake,” she said, suggesting that agricultural insurance could be integrated into the Emwanyi Terimba Project and Local Marine Insurance extended to Buganda’s trading community.
In a special gesture, Ms. Namuli congratulated the Kabaka on his 70th birthday and expressed joy for his good health, underscoring the association’s pride in its strong ties with the Buganda fraternity.
The stakeholder engagement with Buganda Kingdom also marked the official launch of UIA’s 60th Anniversary Celebrations. With six decades of experience, UIA remains dedicated to driving innovation, building trust, and making insurance accessible to all Ugandans. Collaborations like this one with Buganda Kingdom demonstrate the transformative power of partnerships in achieving these goals. As we gear up to celebrate 60 years of service, we encourage all Ugandans to embrace insurance as a key pillar of financial security.
