The Insurance Regulatory Authority of Uganda issued a circular to all licensed insurance and reinsurance brokers setting out the renewal process for licences covering 2026–2027, requiring applications through its online licensing portal and payment of a non-refundable annual compliance fee of UGX 1,000,000 by Monday, 1 September 2025. Late or incomplete applications will attract a UGX 300,000 penalty, and licences are scheduled to be renewed by Monday, 1 December 2025 for a two-year period. The Authority clarified that the 1 September deadline applies because the statutory deadline of 31 August 2025 falls on a Sunday. The circular lists information and documents required for licence issuance, including evidence of paid-up capital composition and investment as at 30 June 2025; corporate governance and control function details (board, senior management, and risk and compliance staff); evidence of statutory security deposits; professional indemnity insurance with a minimum sum insured of UGX 100 million expiring on or after 31 December 2026; and external auditor details, including an engagement letter, professional indemnity cover of at least UGX 100 million valid until 31 December 2026, and compliance with auditor rotation requirements. Applicants must also clear any outstanding obligations to the Authority, resolve any queries on 2024 audited accounts and regulatory returns, provide proof of membership for 2026 in the Insurance Training College of Uganda and the Insurance Brokers Association of Uganda, submit the 2024 company annual return, provide management accounts as at 30 June 2025 for firms first licensed between January and June 2025 (endorsed by an external auditor), and supply work permits for non-Ugandan staff, property title documentation, and a valid Personal Data Protection Office registration certificate. Brokers must submit original signed audited accounts for 2025 together with regulatory returns by Tuesday, 31 March 2026. The Authority will publish the list of licensed entities for 2026–2027 on Thursday, 1 January 2026.
Uganda Insurance Regulatory Authority 2025-06-19
Insurance Regulatory Authority of Uganda sets 1 September 2025 deadline and UGX 1,000,000 fee for 2026–2027 broker licence renewals
The Insurance Regulatory Authority of Uganda issued a circular on the 2026–2027 licence renewal for insurance and reinsurance brokers, requiring online applications and a UGX 1,000,000 compliance fee by 1 September 2025. It specifies documentation needs, including evidence of paid-up capital, corporate governance details, and professional indemnity insurance. Brokers must submit audited accounts for 2025 by 31 March 2026, with licensed entities listed on 1 January 2026.