IRA



 
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Insurance Regulatory Authority of Uganda
The Insurance Regulatory Authority of Uganda (IRA) was established under section 14 of the Insurance Statute 1996 now The Insurance Act,(Chap213) Laws of Uganda, 2000(Insurance Act)which came into effect on 4th April 1996 and commenced operations in April 1997

The main object of the Authority is to ensure the effective administration, supervision, regulation and control of the business of Insurance in Uganda.

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Our Key Functions
The Objective of the Authority is to ensure the effective administration, supervision, regulation  and control of the business of Insurance in Uganda.
 
  • establish standards for the conduct of insurance and reinsurance business;
  • license all persons involved in or connected with insurance business, including insurance and reinsurance companies, insurance and reinsurance intermediaries, loss adjusters and assessors, risk inspectors and valuers;
  • approve texts of policies proposal forms;
  • approve minimum rates of insurance premiums and maximum commissions in
    respect of all classes of insurance;
  • safeguard the rights of insurance policyholders and insurance beneficiaries to any insurance contract;
  • provide a bureau to which complaints may be submitted by members of the public;
  • advise the Government on adequate insurance protection and security for national
    assets and national properties;
  • promote a sound and efficient insurance market in the country;
  • supervise and control transactions between insurers and re-insurers;
  • ensure strict compliance with this Act and regulations made under it and any
    other law relating to insurance; and
  • undertake other functions as the Minister may designate.
IRA licenses 114 insurance players..
Under section Sections 34 (1), 35, 36 (1), 82 (1) and 83 of the Insurance Act, No. 6 of 2017 (Act), the Insurance Regulatory Authority of Uganda has granted licenses to 114 insurance players to transact insurance business in the year 2019.

The Authority has licensed 32 insurance companies (21 non-life firms, 9 life insurance firms; one Micro Insurance firm, one re-insurer, five Health Membership Organizations (HMOs), 35 insurance brokers, two re-insurance brokers and 24 Loss ..Read more.

IRA and FSDU launch micro insurance challenge fund..

The Director Financial Sector Deepening Ms. Rashmi Pillai, the IRA Ag. Director Market Research and Development Mr. Sande Protazio and Mr. Paul Kavuma, Chief Executive Officer Uganda Insurers Association in discussion after the launch of the Micro Insurance Challenge Fund at Protea Hotel, Kampala.

The Insurance Regulatory Authority of Uganda (IRA) in partnership with Financial Sector Deepening Uganda (FSDU) launched a Micro insurance Challenge Fund in which 3 to 5 Successful companies will secure a development support of £100,000 (approximately Shs500M) each. The fund aims at Read more.

IRA to embrace more digital platforms in year 2019..

IRA's Chief Executive Officer Alhaj Kaddunabbi Ibrahim Lubega, and Mr. Joseph Ndiho, the CEO of NEON Insurance Brokers sharing updates on the Online Motor Third Party payment platform starting next year.

The Insurance Regulatory Authority of Uganda will start online licensing of Insurance Brokers, Bancassurance Agents and Loss Assessors in 2019 and perpetual licensing of Insurance Companies in 2020..Read more.

 
 
See a list of licensed Players;

 
 
Information Center
 
Important Links
 
Our Contacts
Address:
Plot5,Kyadondo Road, Nakasero. Legacy Towers, Block B, 2nd Floor.
Kampala 22855 - Uganda
 
E-mail: [email protected]
Telephone: 0312-266364/ 0414-346712 / 041-4253564
Fax: 256 414 349260
https://www.ira.go.ug
 

Employee of the Month

To Make a Complaint, Click Here or Call Toll Free 0800 124 124
Complaints Bureau
 
About the Bureau
The Authority set up a Complaints Bureau in 1998 as per Section 15(f) of the Insurance Act to handle complaits against Insurance players. The public is urged to always lodge complaints with the Bureau for prompt settlement to complaints and avoidance of lengthy and costly Court cases
For complaints / Suggestions

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