Uganda Re Joins Uganda Insurers Association in 60th-Anniversary Visit to Bulange Mengo
Uganda Re, represented by CEO Ronald Musoke, proudly participated in the Uganda Insurers Association’s (UIA) 60th-anniversary visit to Bulange Mengo. The visit, led by UIA Chairperson Ruth Namuli, was a moment of reflection and appreciation, as the association members expressed gratitude to the Katikiro of Buganda, Charles Peter Mayiga, for his contributions to the kingdom’s development.
Among the key initiatives recognized were the Etafaali project, the Kabaka Birthday Run, Emwanyi Terimba and the construction of Masengere and Muganzirwazza Plaza. These projects have played a vital role in the economic and social development of Buganda and the UIA reaffirmed its commitment to supporting similar initiatives in the future.
As Buganda prepares to celebrate Kabaka Ronald Muwenda Mutebi II’s 70th birthday, the UIA also marks six decades of fostering growth in the insurance industry. During the visit, Ruth Namuli highlighted the sector’s impressive achievements, including:
- Gross Written Premiums (GWP) of UGX 1.6 trillion
- UGX 820 billion in claims paid
- 11% industry growth rate
- UGX 520 billion in tax contributions
- UGX 250 billion invested in securities
- Insurance contributing 2% to Uganda’s economy
She emphasized UIA’s interest in collaborating with the Buganda Kingdom to insure key projects like Emwanyi Terimba through the Agro Consortium. This initiative aims to support coffee farmers by providing financial security. Additionally, UIA proposed partnerships to offer Local Marine Insurance, ensuring traders can safeguard their investments and goods in transit.
Katikiro Charles Peter Mayiga welcomed the UIA delegation, acknowledging insurance as a crucial pillar for economic resilience, just like doctors, lawyers and accountants. However, he noted that many in developing countries seek these professionals only after disaster strikes, often too late.
He urged insurers to prioritize timely claim settlements and avoid unnecessary technicalities that may delay or deny compensation. This, he said, would build trust in the sector and encourage more people to embrace insurance.
The Katikiro also thanked UIA for its commitment to social causes, particularly its participation in the 2025 Kabaka’s Birthday Run, which supports the fight against HIV/AIDS.
As a proud member of the Uganda Insurers Association, Uganda Re remains dedicated to advancing the insurance industry and supporting initiatives that drive economic growth and social impact. The company looks forward to further collaborations that strengthen the partnership between the insurance sector and key stakeholders in Uganda.
