MUA Insurance (Uganda) Limited

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MUA Insurance (Uganda) Limited (2021-11)
  • MUA Insurance (Uganda) Limited
  • Year : Dec 2021
3 Tokens
USD 300.00
Summary

The insurer’s risk adjusted capitalisation represents a key credit strength, underpinned by consistent internal capital generation over the review period and nil dividend pay-out at FY20 which offset increases in risk exposures. In this respect, the capital base increased to UGX15.5m (FY16: UGX10m). The statutory Capital Adequacy Ratio “CAR” also demonstrated an improvement to 197% (FY19: 176%). Going forward, GCR expects these levels to be sustained at similar levels underpinned by consistent earnings support from investment income.

Additional Information

The insurer is the subsidiary of the MUA group domiciled in Mauritius. The rating took into consideration MUA Uganda’s relevance to the subgroup as well as evidence of operational integration and brand alignment with both its subgroup and ultimate parent.

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