Uganda has reaffirmed its leadership in regional financial cooperation by hosting the annual summit of the East African Insurance Supervisors’ Association (EAISA), a pivotal gathering of top insurance regulators from across the East African Community (EAC). Held at the Lake Victoria Serena Golf Resort in Kigo, the high-level week-long meeting brought together delegates from Uganda, Kenya, Tanzania, Rwanda, and Burundi.
The conference culminated in significant breakthroughs, including the formal ratification of the EAISA constitution, the adoption of a standardized reporting template for the East African Insurance Market Report, and the development of a national sector reporting framework. These key documents are designed to enhance regulatory cohesion and operational transparency across the region’s insurance markets.
Alhaj Kaddunabbi Ibrahim Lubega, Chief Executive Officer of the Insurance Regulatory Authority (IRA) of Uganda and the current EAISA Chairperson, described the adoption of the documents as a major milestone. “These foundational tools are not just bureaucratic necessities—they are critical instruments that will drive our regulatory efforts towards deeper integration, greater resilience, and increased insurance penetration across East Africa,” Lubega stated. He added that the new strategies align with EAISA’s strategic vision running through to 2029.
From Kenya, Godfrey Kiptum, CEO of the Insurance Regulatory Authority, emphasized the transformative power of harmonized frameworks. He noted that standardized metrics would improve tracking of core sector indicators such as gross written premiums, market penetration, policyholder grievances, and technological advancements.
“With a shared vision and coordinated regulation, we can unlock the full potential of the region’s insurance industry,” Kiptum said, expressing optimism about future growth through cooperation.
Despite facing challenges such as limited public awareness, socio-economic disruptions, and occasional political instability, delegates remained hopeful about the sector’s trajectory. They highlighted digital innovation, robust regulatory reforms, and deeper regional collaboration as engines for sustainable development.
Speaking on behalf of the National Bank of Rwanda, Shelagh Kahonda, Executive Director for Financial Stability, echoed this sentiment of cautious optimism. “Even in the face of regional conflicts and uncertainties, the insurance industry continues to stand as a beacon of financial security. EAISA offers us a unique platform to craft collective, actionable solutions. Ultimately, our goal is simple: every East African citizen deserves peace of mind, knowing their risks are covered and that claims will be honored when misfortune strikes.”
