Uganda’s insurance sector is showing steady growth and resilience, supported by increased market activity and expanding coverage across the country.
In an interview, Antony George Mutyabule, Business Transformation Manager at Old Mutual, shared insights into the industry’s progress, persistent barriers to uptake, and how innovation is reshaping customer experience.
He highlighted the central role of trust, education, and consistency—especially in claims processing—in unlocking industry growth, and emphasized why insurance is increasingly becoming not optional, but an essential pillar of financial wellbeing.
Mutyabule noted that the industry continues to demonstrate steady growth and resilience, driven by expanding coverage and rising awareness among consumers.
“The industry is showing steady growth and resilience, supported by increased market activity and expanding coverage,” he said.
According to the Insurance Regulatory Authority (IRA), Gross Written Premium grew from Shs1.7 trillion in 2024 to Shs2 trillion in 2025, an indicator that more Ugandans are beginning to appreciate the value of insurance.
Mutyabule explained that key trends shaping the sector include digital transformation, the rise of inclusive products such as microinsurance targeting underserved communities, and a growing focus on customer education and experience.
He added that despite the positive momentum, trust remains a major barrier to wider insurance uptake, particularly due to concerns around claims handling and service consistency.
Mutyabule further emphasized that insurance is no longer a luxury or optional product, but a critical pillar of financial wellbeing, essential for protecting households and supporting long-term economic stability.
