Challenges and opportunities for the establishment of a local reinsurance company in Uganda
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Date
2007-10
Authors
Journal Title
Journal ISSN
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Publisher
Kampala International University, College of Economics and Management
Abstract
Reinsurance is a subject which has to be given a high priority in order to safeguard
the interest of all the clients who have been insured by various insurance
companies. The topic is even more important in view of the amount of reinsurance
premium paid to the foreign reinsurers.
The topic of the study was to find out the challenges and opportunities for the
establishment of a local reinsurance company in Uganda considering the fact that
there was none.
The problem therefore being lack of a local reinsurance company in Uganda which
would have solved the problem being experienced.
The objectives of the study was to establish why Uganda had not been able to
establish a local reinsurance company and the possibility of having one, the current
state of reinsurance business and reinsurance premium outflow from Uganda and
finally on whether the establishment of one would improve the performance of
insurance companies in Uganda.
The study employed critical review of both primary data like questionnaires and
personal interviews and secondary data based on the already published work and
other related fields on the said subject of reinsurance.
The major findings being the fact that there is no local reinsurance company in
Uganda hence a lot of reinsurance outflow from Uganda despite the fact that
opportunities are there to have one.
Based on the findings, the recommendation is to have an established local
reinsurance company in Uganda in view of the benefits to be accrued. The same
idea has been supported by various parties as per the findings in the report as per
chart Nos. 2, 3 and 5 amongst others.
Description
Research thesis submitted in partial fulfillment of the requirement for the Award of Masters Degree in Business Administration of Kampala International University
Keywords
Challenges and opportunities, Establishment, Local reinsurance company, Uganda