THE Uganda Insurance Association (UIA) chairman, Geoffrey Kiryabwire, has revealed that a Ugandan re-insurance company called Uganda-Re, is in the pipeline.
Speaking last week, Kiryabwire said Uganda-Re has already been registered and that it will be capitalised to a tune of sh9b.
A re-insurance company covers extra-ordinary claims which cannot be covered by the common insurance companies.
â€œUganda-Re will not only create jobs and introduce a new tax payer, but will save on the great amount of foreign exchange that is paid out by way of premiums to foreign re-insurance companies.â€ Kiryabwire told guests at a UIA party held at Nile Hotel in Kampala.
A State minister for finance and guest of honour, Sam Kutesa, said the Government was â€œexcitedâ€ by this new initiative UIA had undertaken to set up Uganda-Re. Ends
Uganda-Re Begins To Take Shape