Tag Archives: Insurance

In a dramatic regulatory shake-up that has sent shockwaves through Uganda’s insurance sector, the Insurance Regulatory Authority (IRA) has suspended the licence of CIC Africa Life Assurance Limited, stopping the company from signing up any new customers effective 7th November 2025. In a strongly worded public notice, the Authority warned Ugandans NOT to seek new life insurance products from the …

Business mogul Hassan Basajjabalaba has revealed he spent a jaw-dropping USD 6million ( about Sh20 billion) on medical treatment for his late 86-year-old mother, Hajjati Azida Basajjabalaba, as he renewed calls for Uganda to urgently introduce a National Health Insurance Scheme. Speaking emotionally at her burial in Katungu, Ishaka–Bushenyi on Sunday, Basajjabalaba said he made over 20 international medical trips …

Uganda’s banking and insurance industries are on high alert as a courtroom battle erupts over who should pay for a trail of disastrous land valuations that left Finance Trust Bank exposed to massive loan losses. At the centre of the fight is a Shs300 billion claim—one of the largest ever—based on allegations that Katuramu & Company Consulting Surveyors filed wildly …

Post Views: 5 Tycoon Hassan Basajjabalaba By Wilber Muhwezi KasibanteIn Bushenyiwww.mknewslink.comThe chairman entrepreneurs’ league and member of CEC NRM and also the party chairman for Bushenyi District, tycoon Hassan Basajjabalaba has warned government against spending money in PDM with a hope of alleviating poverty is not possible.Basajjabalaba said this today November 15, 2025 at Katungu Ishaka during the sendoff …

20 companies, including CIC Insurance, Equity Bank, and several universities, have been penalised a total of Sh2.2 billion for failing to hand over unclaimed financial assets to the Unclaimed Financial Assets Authority (UFAA), Kenya media reports. The fines follow a detailed audit by Kenya’s Auditor-General, which revealed that these firms withheld dividends, insurance payments, dormant savings, and other idle funds …