National Insurance Corporation Limited, commonly referred to as National Insurance Corporation (NIC), is an insurance company in Uganda. The company is a leading provider of insurance and risk management services in the country.[1]
Overview
NIC, one of the licensed insurance companies in the country, is a medium-sized insurance services provider in Uganda. As of, the company's total assets were valued at USh 108 billion (approximately US$30 million). During the year that ended December 2017, the company realized USh 1.9 billion (approximately US$520,000) in after-tax profit.[1] At that time, shareholders' equity was calculated at USh 38 billion (approximately US$10.5 million).[1]
History
NIC was established by an Act of Parliament in 1964. Before 2005, all of the company was owned by the Ugandan government