Uganda: We Have Capacity to Cover Govt Assets, Insurers Say

Kampala — Insurers have said the sector has more than enough capacity to take on government assets in case it heeds to their appeal made last month.

"Yes, we do have the capacity to underwrite those assets because what happens is that the whole market pools their resources which is addressed as capacity to make sure that they can undertake that risk. We also work with external markets to make sure the risk is appropriately covered as well as managed," Uganda Insurers Association (UIA) chief executive officer Miriam Magala, said. According to UIA, insurance of government assets would drive penetration up by 1.5 per cent.

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