Uganda's first reinsurer launched

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The Uganda Reinsurance Co. Ltd., the country's first reinsurer, has been launched and the company is optimistic about its growth prospects, reports Ugandan newspaper New Vision.

Uganda Re chairman Samson Muwanguzi said the company is confident of growing by "at least 15% every year" and it is also confident of listing on the Uganda Securities Exchange "within the next two years." The reinsurer aims to underwrite 15 billion Ugandan shillings ($6 million) in premiums in 2014 and UGX 22.6 billion in 2014, New Vision reported.

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