Equity Bank Uganda Expands Insurance Access, Ranks High in Bancassurance

Equity Bank Uganda is significantly expanding access to insurance and financial protection, solidifying its position in the country's growing bancassurance market. The bank ranked fourth among Uganda's 22 licensed bancassurance providers in the first quarter of 2026, generating UGX 6.69 billion in Gross Written Premiums (GWP) and securing an 8.28% market share.

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The performance reflects the growing confidence Ugandans have in accessing insurance through trusted financial institutions and highlights the increasingly important role banks are playing in expanding insurance inclusion across the country.

This performance underscores a broader trend in Uganda, where banks generated over UGX 80.8 billion in insurance premiums during the same quarter. The industry report highlights growing confidence among Ugandans in accessing insurance through financial institutions, signaling banks' crucial role in broadening insurance inclusion. Insurance is increasingly viewed not just as a product for post-loss claims, but as an essential financial planning tool.

Bancassurance, the distribution of insurance via banks, has been a key driver of this transformation. It simplifies access for customers by allowing them to obtain financial protection from the same trusted institution where they manage their savings, investments, and transactions. This model is vital for protecting individuals, families, and businesses against unforeseen risks, enabling swift recovery from life's uncertainties.

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From medical emergencies and accidents to business interruptions, property loss and cyber threats, insurance provides the financial safety net that allows customers to continue pursuing their ambitions with confidence.

James Sserumaga, Head of Bancassurance at Equity Bank Uganda, emphasized the bank's commitment to financial inclusion. "At Equity Bank Uganda, we believe that protecting what matters is just as important as creating wealth," Sserumaga stated. He added that insurance empowers customers to manage risks effectively and recover from setbacks without jeopardizing years of progress. The bank's objective is to ensure insurance is simple, affordable, and accessible to all its customers.

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At Equity Bank Uganda, we believe that protecting what matters is just as important as creating wealth. Insurance enables our customers to manage risks effectively and recover from unexpected setbacks without losing years of progress. Our objective is to make insurance simple, affordable and accessible to every customer.