ask http://contenthog.com/pr/wp-includes/class-json.php sans-serif; color: #222222;”>This leaves the economy at a risk since investors don’t value insurance risk management.
Hadj Kadunabi Lubwega, the Chief Executive Officer of the Insurance Regulatory Authority, attributes this to the misconception which people attach to the insurance industry.
The misconception leaves many Ugandans referring to the insurance industry as a cheat.
Kadunabi says this has resulted into an undeveloped economy.
He made the remarks at a function where Britam insurance company was appointing a new Chief Executive Officer.
Britam, who are the new entrants in the Ugandan insurance market, join the existing most competing markets which include UAP and Jubilee insurance.
Allan Mafabi, the new CEO, who is so much informed about the insurance industry, joins Britam insurance after handling different tasks at the UAP insurance.
Such tasks include; business development, loss adjustment, reinsurance and under writing.
Officiating at function where the new manager was introduced, Benson Wairegi, the Britam Group Managing Director, said they are to inject Shs 1.2tn in the Ugandan market.