Owek. Charles Peter Mayiga receiving a Cheque from Ruth Namuli UIA chairperson
The insurance fraternity through the Uganda Insurers Association (UIA) has once again partnered with the Buganda Kingdom for the upcoming Kabaka Birthday Run 2025. This collaboration was marked by a visit from the UIA delegation to Bulange, Mengo, where they were warmly welcomed by the Katikkiro of Buganda Kingdom, Owek. Charles Peter Mayiga.
In his remarks, Owek. Mayiga emphasized the importance of insurance in any meaningful endeavor. He noted that anyone engaged in significant activity needs four essential people: a doctor, a lawyer, an accountant, and an insurer. Highlighting the need for an insurer, he explained that risk is an inherent part of business, and insurance provides a necessary safety net.
Owek. Mayiga shared a personal anecdote about his newly constructed house almost catching fire in 2007 due to a burning candle. This incident prompted him to acquire insurance for his house from UAP Old Mutual, reinforcing the idea that anyone focused on growth must have insurance at all times.
Katikkiro speaking to insurers during the visit
The Buganda Kingdom Premier also addressed the common tendency in developing countries to wait for calamity to strike before taking action. He urged insurers to improve their claims settlement processes, citing delays or failures to settle claims as a significant drawback to the growth of the insurance industry.
Furthermore, Owek. Mayiga advocated for the support of Buganda Kingdom’s initiatives, including Weerinde Brokerage Services, BBS TV, and CBS FM. He expressed gratitude to the UIA for supporting the Kingdom’s fight against HIV/AIDS through the Kabaka Birthday Run and emphasized the importance of prioritizing healthy living and having health insurance.
UIA Chairperson Ruth Namuli thanked the Katikkiro for the engagement and congratulated him on the many successful initiatives undertaken by the Buganda Kingdom. She noted that the insurance industry is proud to be involved in the Buganda fraternity, with many industry figures serving in various capacities.
Ruth Namuli- Chairperson -UIA
The UIA Chairperson also highlighted some of the Association’s initiatives, including the Agro Consortium, which currently supports 800 farmers, and the mandatory Local Marine Insurance for all importers. She acknowledged the challenges facing the insurance industry, such as weak implementation of mandatory covers and public mistrust, but expressed optimism that ongoing solutions would improve insurance penetration. As a show of support, the UIA contributed UGX 5 million towards the Kabaka Birthday Run 2025, the UIA Chairperson sought support from the Buganda Kingdom to grow the insurance industry, emphasizing the Association’s commitment to promoting best practices, high standards, and consumer protection.
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