Uganda’s insurance sector continues to register steady growth and resilience, driven by increased market activity, expanding coverage, and rising public awareness.

In an interview, Antony George Mutyabule, Business Transformation Manager at Old Mutual, highlighted the industry’s progress, ongoing challenges, and the growing role of innovation in improving customer experience.

He noted that while the sector is expanding, trust, customer education, and consistency—particularly in claims processing—remain critical to unlocking its full potential.

“The industry is showing steady growth and resilience, supported by increased market activity and expanding coverage,” Mutyabule said.

Data from the Insurance Regulatory Authority (IRA) shows that Gross Written Premiums rose from Shs1.7 trillion in 2024 to Shs2 trillion in 2025, signaling increased appreciation of insurance among Ugandans.

According to Mutyabule, key trends shaping the sector include digital transformation, the growth of inclusive products such as microinsurance targeting underserved communities, and a stronger focus on customer experience.

However, he acknowledged that trust remains a major barrier to wider adoption, largely due to concerns around claims handling and service reliability.

He emphasized that insurance is no longer a luxury, but an essential pillar of financial wellbeing—playing a crucial role in protecting households and supporting long-term economic stability.