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GLOBAL FOCUS

Insurance market in East Africa aims to enhance stability

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The Cross Border and Group Widening Supervision Manual, which was created in 2013 and is now being implemented, will strengthen East Africa's insurance industry, East African Business Week reported.

Alhaji Ibrahim Lubega Kaddunabbi, chief executive of the Insurance Regulatory Authority in Uganda, said "the manual once completed will guide the surveillance of market conduct activities of insurance registrants in the region."

Meanwhile, Bonaventure Sangano, representative of the governor of Bank of Rwanda, said the Rwandan insurance industry was not growing at the same rate as the other industries.

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