By David Mwanje
SanlamAllianz General Insurance Uganda has introduced a low-cost personal accident policy designed to protect road users from financial loss after traffic accidents.
The product, called On-the-Go Accident Cover, was launched at the company’s offices in Kololo. It provides total benefits of up to 3.15 million shillings, including 1 million shillings each for accidental death and permanent disability, 650,000 shillings for medical expenses, and 500,000 shillings for funeral costs. The policy costs 1,300 shillings and covers users of both public and private transport, including motorcycles up to 750cc.
SanlamAllianz Chief Executive Officer Ruth Namuli said the product addresses the low uptake of personal accident insurance in Uganda and can be purchased through the company’s mobile app. Dr. Donato Laboke, head of marketing, said the cover was designed for easy access and quick purchase, while Steven Kaddu Mukasa, representing the Insurance Regulatory Authority (IRA), said the regulator approved the policy after a detailed review.
Uganda’s insurance industry continues to grow gradually. IRA data shows that gross written premiums rose by 10% to 1.76 trillion shillings in 2024, while the first quarter of 2025 recorded 24% year-on-year growth to 629 billion shillings. However, insurance penetration remains below 1% of GDP, compared to Kenya’s 2.14%, due to low awareness and affordability challenges.
SanlamAllianz, which emerged from the 2023 merger between South Africa’s Sanlam Group and Germany’s Allianz, operates in 27 African markets and controls about 12% of Uganda’s non-life insurance segment. The company is also expanding its investment portfolio through the Sanlam Unit Trust Fund, whose income fund reported a 13.19% annual return as of May 2025.
