The 5th Annual Insurance Week, organized by the Insurance Regulatory Authority (IRA), officially took place from March 19th to March 26th, 2026, at Constitutional Square in the heart of Kampala. This year’s event was held under the theme “Future Eri Ku Sure Ne Insure,” a message designed to emphasize the certainty and protection that insurance provides in an increasingly unpredictable world. For Statewide Insurance Company (SWICO), participation in this week was not merely a ceremonial duty but a strategic opportunity to connect with the public, showcase our innovative solutions, and reaffirm our position as a foundational pillar of the Ugandan insurance industry. As the oldest privately owned insurance company in Uganda, we’ve spent over four decades building a legacy of resilience and trust. This year’s Insurance Week provided the perfect platform to demonstrate that while our history is deep, our vision for the future is even sharper.
The timing of this year’s Insurance Week coincides with a pivotal moment for the financial services sector in Uganda. According to industry data, the insurance sector is steadily growing, with gross written premiums reaching approximately sh1.85 trillion, reflecting an annual growth rate of about 10%. However, despite this financial progress, insurance penetration in Uganda remains critically low, stagnating at below 1% of GDP, far behind regional counterparts like Kenya. Speaking at the launch of the Insurance Week, IRA CEO Al Hajji Ibrahim Lubega Kaddunabbi noted that the industry must work harder to demystify insurance, urging the public to “insure anything that has value”. He further stressed that “no country has grown without insurance,” linking the industry’s expansion directly to Uganda’s national development agenda. SWICO took this message to heart, positioning our booth as an educational hub where visitors could learn not just about policies, but about the importance of financial risk management in everyday life.
Throughout the week at Constitutional Square, SWICO engaged with a diverse cross-section of the Ugandan public. The event provided a unique platform for the industry to address consumer complaints in real time, showcase product innovations, and facilitate meaningful dialogue between providers and the public. For SWICO, this meant face-to-face conversations with boda boda riders, small business owners, and families. The Annual Insurance Week also served as a reminder of the collective effort required to move the needle on insurance penetration. The event brought together 24 insurance companies, the Bank of Uganda, and various government entities, all operating from temporary tents at Constitutional Square. It was a collaborative atmosphere where competitors became collaborators in the mission to build a more resilient Uganda.
As the week drew to a close on March 26th, SWICO walked away with more than just new leads; we walked away with a renewed sense of purpose. The insurance sector in Uganda is at a tipping point, with gross written premiums surpassing UGX 2 trillion in 2025 and annual growth holding steady between 10% and 12%. Yet, with penetration still languishing below 1%, the room for growth is immense. The IRA’s decision to extend the Insurance Week schedule to include a full weekend was a strategic move to give the public more time to engage, and we at SWICO made the most of every minute. We listened to your concerns, answered your questions, and demonstrated that insurance is not a complex puzzle reserved for the wealthy, but a practical tool for anyone who wants to protect what matters most. Whether you are a trader in the city center, a farmer in Masaka, or a boda boda rider in Gulu, SWICO has a solution for you. With SWICO, you are sure!