Uganda Reinsurance Company: Building a Stronger Insurance Future

The Uganda Reinsurance Company is a vital player in the country's insurance industry, working tirelessly to build a stronger insurance future for all Ugandans.

The company was established in 1993, with the primary goal of providing reinsurance services to local insurance companies.

By doing so, it helps to reduce the risk of losses and increase the stability of the insurance market.

This, in turn, makes it easier for Ugandan businesses and individuals to access insurance services and manage their risks.

The Uganda Reinsurance Company has a solid track record of growth and development, with a strong presence in the region.

Uganda Reinsurance Company is a state-owned reinsurer that operates within the Ugandan insurance market. It was established in 1993.

The company's board of directors oversees its operations, ensuring that the company remains financially stable and compliant with regulatory requirements. This board is responsible for making key strategic decisions.

The company's management team, led by the Managing Director, is responsible for implementing the board's decisions and overseeing the day-to-day operations of the company.

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Uganda Re's ownership is a bit complex, but essentially, the shares of the stock are privately owned.

The major shareholders are listed in a table, and it's interesting to see who holds the biggest stakes.

Zep Re is the largest shareholder with 21.0% ownership, followed closely by Kenya Re with 11.0%.

Other notable shareholders include Old Mutual Insurance Company, Uganda Insurers Association, and Local Insurance Brokers, each holding around 9.0%, 8.0%, and 5.6% respectively.

Continental Reinsurance Company from Nigeria also has a significant stake, holding 5.0% of the shares.

Lastly, there's a category for Other Institutional Investors, which includes a mix of African institutions, holding a whopping 38.9% of the shares.

Here's a breakdown of the top shareholders:

The governance structure of a company is crucial for its success. Uganda Re is governed by a seven-person board of directors.

The board is chaired by Twaha Kigongo Kaawaase, who plays a key role in overseeing the company's operations.

Uganda Reinsurance Company Limited is a proudly local company that has earned the trust of its clients.

The company has a wide range of services, including engineering, marine, general, accident, motor, agriculture, political, violence, sabotage, and terrorism, making it a one-stop-shop for all reinsurance needs.

Based in Kampala, Uganda Re has a strong presence in the country and is committed to building long-term relationships with its stakeholders.

With a full staff compliment of local workers, Uganda Re is dedicated to providing high-quality services that meet the industry's high standards.

The company's commitment to reliability and quality, as well as its ability to meet customer needs and expectations, has earned it a reputation as a responsible and corporate citizen.

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Placing trust in local reinsurance is crucial for any business, and Uganda Reinsurance Company Limited is a shining example of this. They are the country's first and only reinsurance outfit, providing a wide range of services.

Uganda Re is based in Kampala and has a full staff compliment of local workers, which is a testament to their commitment to the local community. They hold the title of the country's first and only reinsurance outfit.

Their client base includes the entirety of insurance companies located in Uganda, as well as risks that spread across the African Continent and Indian Ocean Islands. This shows the scope of their operations and their ability to meet the needs of a diverse range of clients.

Uganda Re is committed to building long-term relationships with stakeholders, particularly due to their predominantly local work. They strive to build trust with their clients and partners.

Their strong values of reliability, quality, and meeting customer needs and expectations are at the heart of everything they do. This commitment to excellence is essential for building trust in local reinsurance.

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Uganda Re has a team of experienced professionals who have been instrumental in its success over the past four years.

Their objective is to serve clients with excellence and professionalism, just like a top-class reinsurance company anywhere in the world.

The company has honed in on its ability to provide value-added services to business partners, which is a key aspect of its success.

These services are delivered in a timely and efficient manner, supporting business partners in achieving their corporate goals.

Uganda Re supports almost all classes of business and offers treaty and facultative capacities, backed by internationally rated retrocession partners.

The company's specialist knowledge of risks is another key strength that sets it apart from others in the industry.

The Uganda Reinsurance Company has been a game-changer for the local insurance industry, reducing the risk of large claims and spreading the risk among clients.

In 2013, the company was formed with a requirement for insurance companies to invest 15 percent of their reinsurance business into Uganda Re, which has helped balance fluctuations in financial results for these companies.

The company's growth over the past four years has been significant, with a big part of that growth coming from local support.

Uganda Re aims to be the reinsurer of choice for its Uganda insurance companies and in the region, with a vision of providing consistently excellent and reliable service to its clients.

The Ugandan insurance industry has taken a significant step forward with the establishment of Uganda Re in 2013. The company was formed to reduce the risk associated with underwritten policies by spreading the risk among reinsurance companies.

Companies were required to invest 15 percent of their reinsurance business into Uganda Re, a move that has played a crucial role in balancing fluctuations in insurance companies' financial results. This collective effort has been a long time coming, taking 17 years to set up a national reinsurance company.

A big part of Uganda Re's growth over the past four years has come from local support.

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Uganda Re has a clear vision for the future, aiming to be the re-insurer of choice for its Uganda insurance companies and in the region. This vision is built on providing excellent and reliable service to clients, with a focus on expertise, quick responses, and excellent claim payment turnaround.

The company has made significant strides in achieving this vision, with premiums growing from $177,000 in its first year to $7,039,000 as of 2016. This represents a massive growth, demonstrating Uganda Re's ability to be a leading reinsurer in the industry.

To drive this growth, Uganda Re has prioritized hiring staff with the right skills and continuously training them to meet the needs of insurers. This approach has been crucial in delivering high-quality services to clients.

The company's leadership is optimistic about its future prospects, with a target of achieving $15,000,000 in written premiums over the next four years.

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