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ProcedureEdit

  1. To obtain a license as Insurance Broker the applicant have to approach the Uganda Insurance Regulatory Authority(UIRA).
  2. The applicant for the Licence of insurance broker business shall apply to the Authority, in a prescribed form 3B, for a Licence, which application shall be considered by the Authority.
  3. Application forms can be obtained from the respective offices which have to be filled in and submitted along with the documents that are listed under the Required Documents section.
  4. Before submitting the application processing fee has to be paid in the bank and receipt has to be attached with the application.
  5. Following links provide you information about office locations and more information about the process.
  6. If the applicant does not provide all the relevant information or if clarification is necessary, the applicant may be called upon to provide the information or Clarification to complete the application.
  7. If the Authority is satisfied that the applicant complies with the provisions of the Act, then a licence to the applicant is granted on the payment of the prescribed fee;
  • In case the Authority refuses to grant a Licence , reasons must be given in writing for its decision.
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Required DocumentsEdit

Registration requirements. Fill a form with the following information

  • The name and address of the company/firm.
  • The legal status (e.g. limited company, partnership). Also, you indicate whether the firm is local or foreign.
  • The physical location of the proposed Head office showing the plot No., the street, town, telephone number, fax, postal address and email address.
  • The physical location of Branch offices showing the information.
  • Date and Number of incorporation/registration
  • Attach a copy of the Certificate of Incorporation/Registration and a copy of the Memorandum and Articles of Association.
  • Nature of business (e.g. insurance or reinsurance brokerage).
  • Date of commencement of business.
  • Names, addresses, nationality, qualifications and occupation of Directors.
  • Names, nationality and address of shareholders.
  • Names, qualifications and experience of Senior Executive and key Management staff (attach organization chart).

License requirements. Fill an application form with the following information:

  • The name of the applicant.
  • Postal address of the Head office.
  • Telephone numbers, fax number, email.
  • Physical address.
  • Share capital.
  • Authorized and paid-up capital of not less than 75,000,000- Seventy five million shillings of which 17,500,000 -Seventeen million five hundred thousand shillings shall be invested in Government securities and on which the Authority shall have a lien.
  • Insurance business intended to be transacted for (state whether life or non-life).
  • Names and address of Bankers.
  • External auditors.
  • Names, nationality and address of the directors of the applicant.
  • If any of the directors has been convicted of any offence involving fraud or dishonesty he/she give details.
  • If any of the directors has been adjudged to be bankrupt or compounded with creditors, he/she give details.
  • If any of the directors have an interest in any firm licensed under the Statute, he/she should state the nature of the interest.
  • Names of the Chief Executive Officer of the applicant.
  • Total number of employees to be employed (managerial, supervisory, others).
  • Attach photocopy of professional indemnity insurance cover.

In addition to the above information, the following enclosures should be attached accordingly:

  • Detailed and signed curriculum vitae of all directors and the Chief Executive Officer and technical staff (ensuring compliance with Reg. 11 of the Insurance Regulations 2002).
  • List of other personnel.
  • Address, telephone numbers and details of any branch office.
  • Documentary evidence of paid-up capital.
  • Evidence of payment of statutory deposit with Bank of Uganda. (You will need an introductory letter from the IRAU).
  • For new business - original certificate of registration (Business name) OR certificate of incorporation (Company) - Uganda Registration Services Bureau.
  • On being licensed, the company will be required to become a member of the Insurance Institute of Uganda.


Office Locations & ContactsEdit

The Insurance Regulatory Authority Of Uganda - Head Office,
Insurance Towers Plot 6,
Lumumba Avenue
Kampala Uganda
P.O Box 22855
Kampala Uganda
Tel: +256 417-425500
Email: [email protected]
WebsiteL Link

EligibilityEdit

  • Persons who at the time of effecting the insurance contract are residents of Uganda;
  • Goods or assets situated in Uganda;
  • Ships, aircraft or other vehicles registered in Uganda; or
  • Goods imported from other countries except personal effects and donations.


FeesEdit

Application Fees:

  • 500,000 Ugsh. - Registration

License Fee:

  • Insurance broker:- 400,000 Ugsh.
  • Re-Insurance Broker:- 800,000 Ugsh.

ValidityEdit

Validity: The 31st day of December of the year in which it is issued (Valid for 1 year)

Documents to UseEdit

Please attach documents that can be used by people. e.g. links

Sample DocumentsEdit

Processing TimeEdit

Maximum Processing Time: 2 Weeks.

Related VideosEdit

Videos explaining the procedure or to fill the applications. 
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites. 	
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver, 
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

InstructionsEdit

  • A person shall not carry on ,or purport to carry on, insurance business, reinsurance business or the business o f a H M O in U ganda without a valid licence issued by the Authority.

Required InformationEdit

  • Name and Address of Company/Firm/Person
  • Legal Status(e.g.Limited Company, sole proprietor,partnership)mutual insurance company, also indicate whether local or foreign.
  • Physical location of Head office
  • Physical location of Branch Offices
  • Date and number of incorporation/registration
  • Attach copy of certificate of incorporation/registration and copy of Memorandum and Articles of Association.
  • In case of mutual Insurance Company, also attach instruments of subscription for members).
  • Nature of business (e.g. Life insurance, Non-life insurance, reinsurance, brokerage, agency, loss assessors, loss adjuster etc.)
  • Date of commencement of business.
  • Names, addresses, nationality, qualifications and occupation of Directors
  • Names, nationality and address of shareholders
  • Names, qualifications and experience of senior executive and key management staff.

Need for the DocumentEdit

Please provide the need for the procedure. e.g. Birth Certificate - why do we need to have a birth certificate? 
 

Information which might helpEdit

Enter other informations which might help.

Other uses of the Document/CertificateEdit

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

External LinksEdit

link
link1
link2

OthersEdit

More information which might help people.