Plot 3 Pilkington Road., 3rd Floor N.I.C. Building Annex, Kampala (U).
P. O. Box 22855, K’la (U) Tel: 256-41-346712, 256-41-253564, Fax: 256-41-349260
E-mail:uic@uginscom.go.ug Website:uginscom.go.ug

The Uganda Insurance Commission (Commission) Congratulates the entire National Insurance Corporation Limited (NICL) family and all its existing and potential esteemed clients on the occasion of NICL's inauguration of its re-branded corporate identity. This updating of its corporate image is a logical consequence of:

i. A self-review since the establishment of the then National Insurance Corporation (NIC) in 1964; and

ii. Government divestiture of 60% of its shares in NIC in June 2005 to the Industrial and General Insurance Company Limited (IGI) of Nigeria.

The Commission, additionally, congratulates NICL on:

i. Its visible efforts since the divestiture in the areas of re-branding, and introduction of new products;
ii. Rejuvenation and reinvigoration of its marketing function,

All the foregoing in an effort to reclaim and even excel its predecessor's glory as
Uganda's leading and most successful indigenous, insurer.

In its bid for even better performance and up-dated and a more wholesome corporate image, an effort in which all other players are engaged in one way or another, we call upon them and all the other licensed insurance players to join the Commission in its aim of ensuring a sound, stable and progressive insurance industry in Uganda. This would be, for instance, by all licensed players.

i. Operating professionally and ethically;
ii. Voluntarily (without waiting for the Commission's enforcement) complying with the standards established for the conduct of insurance and reinsurance business, as enunciated in the Insurance Act;
iii. Settling insurance claims equitably and promptly and, thus, minimize the work of the Commission's Complaints Bureau;
iv. Apply the economic premium and commission rates approved by the Commission;
v. Continuous public education on insurance and loss prevention;
vi. Ensuring saturation of the Ugandan market before exporting insurance business abroad; etc.