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Uganda's Insurance Peneration Least in East Africa

Uganda’s insurance penetration remains the least in the East African region, but insurers are optimistic that with enhanced innovations, the country’s performance could be uplifted.

Insurance penetration in East Africa is below 3% of the countries’ total gross domestic product. Uganda trails at a mere 0.65%, Rwanda’s rate is at 2.3% and Kenya at 2.76% while Tanzania is at 2.2%.

Alex Wanjohi, the AIG Insurance managing director, pointed out that industry needs to new innovations and align the market with the fast changing needs of the already existing and potential clientele.

11-Dec-2012

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