Insurers look to partner to share oil risks, benefits
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Ugandan insurers are looking to partner to share risks and benefits related to the oil sector following the country's plan to begin oil production in 2020, The Independent reported. Maurice Amogola, chief executive of Minet Uganda Insurance Brokers Ltd., said that local insurers plan to retain part of the premiums depending on the balance sheet of each insurer while reinsuring the rest with international insurers. Government officials said that more than $15 billion is being invested in the oil and gas sector for projects such as refinery, pipeline, airport and roads.
