December 09, 2025
The insurance industry in Uganda is experiencing rapid growth. This article seeks to explore and appreciate the broad role of insurance brokers in delivering quality insurance services. Brokers play a crucial part in bridging the gap between insurers and clients, ensuring that the population has access to comprehensive and reliable coverage. Despite Uganda’s significant potential for a more widespread uptake of insurance services, challenges such as trust and accessibility continue to hinder growth. Similarly, brokers face their own limitations in fully meeting the needs of the population. However, market research highlights that insurance broking has demonstrated remarkable resilience in overcoming these obstacles.
An insurance broker is an independent, regulated company that provides personalized solutions tailored to individual insurance needs. Brokers act on behalf of clients, negotiating insurance contracts with insurers to secure the most suitable coverage. Uganda is home to several insurance broking companies, including Minet Uganda, Clarkson, Africef, Kenbright Uganda, and Padre Pio. These companies operate under the oversight of the Insurance Regulatory Authority (IRA), which is mandated to ensure the effective administration, supervision, regulation, and control of the insurance sector in the country. Additionally, brokers are represented by the Insurance Brokers Association of Uganda (IBAU), whose mandate includes promoting professional and ethical practices in insurance broking and lobbying for policies and regulations that align with international standards.