Can insurance regulator’s new CEO, Sande Protazio, unlock Uganda’s untapped insurance market?

The appointment of Protazio Sande as Acting Chief Executive Officer of the Insurance Regulatory Authority of Uganda (IRA) marks more than a leadership transition.

It signals continuity, institutional stability and a sustained focus on deepening insurance penetration in a market that remains largely untapped.

Dr. Sande takes over from Kaddunabbi Ibrahim Lubega, whose contract ended on May 31, 2026, after a tenure widely credited with transforming Uganda’s insurance sector through regulatory reforms, market expansion and increased consumer protection.

For industry stakeholders, the key question is what Dr. Sande brings to the role and what his appointment could mean for the future of Uganda’s insurance industry.

Deep Institutional Knowledge

Unlike an external appointee who would require time to understand the regulator’s operations, Dr. Sande assumes leadership from within the institution.

As the substantive Director of Strategy and Market Development, he has been directly involved in shaping many of the initiatives that have driven the sector’s growth in recent years.

His familiarity with the Authority’s strategic priorities, regulatory framework and stakeholder relationships means the transition is likely to be seamless.

This continuity is particularly important at a time when the insurance industry is pursuing ambitious targets to increase penetration, expand financial inclusion and leverage technology to reach underserved populations.

The Board itself cited Dr. Sande’s institutional knowledge as a key reason for his appointment.

Strategic and Market Development Expertise

Dr. Sande’s professional background is closely aligned with one of the biggest challenges facing Uganda’s insurance industry, market growth.

Despite years of steady expansion, insurance penetration in Uganda remains among the lowest in the region, with a significant proportion of the population lacking insurance coverage.

His experience overseeing strategy and market development places him at the center of efforts aimed at expanding insurance uptake, improving public awareness and promoting innovative products tailored to local needs.

Industry observers expect him to continue championing initiatives such as agricultural insurance, microinsurance, digital insurance solutions and inclusive products designed for low-income earners and small businesses.

These areas are increasingly viewed as critical to unlocking the next phase of growth in Uganda’s insurance market.

Focus on Financial Inclusion

One of the most significant opportunities for Uganda’s insurance industry lies in expanding coverage beyond the traditional corporate and urban customer base.

Dr. Sande has been closely associated with programs aimed at increasing insurance accessibility and affordability.

As Acting CEO, he is expected to strengthen partnerships with government, financial institutions, telecommunications companies and development partners to drive wider adoption of insurance products.

Such efforts align with Uganda’s broader financial inclusion agenda, which seeks to ensure more citizens have access to financial protection against risks such as illness, crop failure, accidents and property loss.

Strengthening Innovation and Digital Transformation

The future of insurance globally is increasingly digital, and Uganda is no exception.

The sector is witnessing growing adoption of mobile-based insurance services, digital claims processing and data-driven underwriting.

With a background in strategy and market development, Dr. Sande is expected to support innovations that improve efficiency, reduce costs and enhance customer experience.

Digital transformation could also help insurers reach previously underserved communities, particularly in rural areas where access to traditional insurance channels remains limited.

For regulators, the challenge is balancing innovation with consumer protection—a task that will likely remain a key priority under his leadership.

Regulatory Stability During Transition

The insurance sector depends heavily on regulatory certainty and stakeholder confidence.

By appointing an experienced insider, the IRA Board appears to have prioritized stability and continuity.

This is important not only for insurance companies but also for investors, policyholders and development partners who rely on predictable regulatory oversight.

The Board has already assured stakeholders that the Authority’s regulatory functions, supervisory activities and services will continue uninterrupted during the transition period.

Such stability is essential as the industry navigates emerging risks, changing consumer expectations and evolving financial technologies.

Building on Kaddunabbi’s Legacy

Dr. Sande also inherits a sector that has undergone significant transformation under Dr. Kaddunabbi’s leadership.

Over the past decade, the industry has recorded growth in gross written premiums, improved regulatory compliance, increased public awareness and strengthened policyholder protection mechanisms.

The challenge for the new Acting CEO will be maintaining this momentum while identifying new opportunities for growth.

Key areas likely to demand attention include increasing insurance penetration, improving claims settlement practices, expanding agricultural insurance coverage and strengthening public trust in insurance products.

A Critical Moment for the Sector

The appointment comes at a time when Uganda’s economy is expanding and new sectors such as oil and gas, infrastructure development and digital services are creating fresh demand for insurance solutions.

At the same time, climate risks, public health challenges and economic uncertainties are increasing the need for risk management products.

These dynamics present both opportunities and challenges for the insurance industry.

For Dr. Sande, success will likely be measured by his ability to translate the Authority’s strategic vision into tangible growth while maintaining strong regulation and consumer confidence.

His appointment may be temporary, but industry stakeholders will be watching closely to see how his leadership influences the next chapter of Uganda’s insurance sector development.

As Uganda seeks to build a more resilient and inclusive financial system, the insurance regulator’s role has never been more important, and Dr. Protazio Sande now finds himself at the center of that mission.