AIG Uganda posts UGX5bn profit

Alex Wanjohi, AIG Uganda's managing director, attributed the good results to an increase in income from all premiums by 13.9% from UGX20,1bn to UGX22,9bn, an increase in the company's liquidity ratio from 57% to 61% and the rise in AIG's solvency margin from 40% to 46%, in 2006.

Last year, AIG emerged the best paying insurer in the financial year under review with a remittance of UGX2,1bn and over UGX200m in “pay-as-you-earn” tax. AIG was followed by National Insurance Company and Gold Star Insurance Company, respectively.