IMF Staff Country Reports

Uganda: Technical Assistance Report-Moving Towards Risk-Based Supervision of Insurance in Uganda: Training on Supervision of Reinsurance and Assisting on an Industry Seminar on Risk-Based Supervision

January 16, 2018

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Uganda: Technical Assistance Report-Moving Towards Risk-Based Supervision of Insurance in Uganda: Training on Supervision of Reinsurance and Assisting on an Industry Seminar on Risk-Based Supervision, (USA: International Monetary Fund, 2018) accessed October 19, 2024

Summary

This Technical Assistance Report discusses the recommendations made by the IMF mission to assist Uganda in moving toward risk-based supervision of insurance sector. It highlights that under the revised insurance legislation, the Insurance Regulatory Authority of Uganda (IRA) will be requiring nonlife insurers to provide certification for adequacy of technical provisions by an actuary as is currently required for life insurers. When the requirement comes into effect, it will be necessary for it to be supported by guidance from IRA in terms of its expectations for the actuarial reports to be filed. This will ensure consistency in reporting to the IRA and that the reports will provide the information needed by the IRA for supervisory purposes.

Subject: Financial institutions, Financial regulation and supervision, Insurance, Insurance companies, Risk-based supervision

Keywords: CR, Global, Industry IRA Board, Insurance, Insurance companies, IRA supervision manager, IRA team, ISCR, Life insurance insurance premium, Net premium, Premium, Reinsurance, Reinsurance training, Risk-based supervision, Staff of IRA, Uganda insurance market

Publication Details

  • Pages:

    19

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2018/007

  • Stock No:

    1UGAEA2018001

  • ISBN:

    9781484337400

  • ISSN:

    1934-7685

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