By Musis Lwanga
Goldstar Insurance Company Limited is celebrating 30 years of operations in Uganda, marking three decades of growth, financial resilience and commitment to protecting businesses, institutions and individuals across the country.
(Goldstar Insurance Company Limited is proud to mark three decades of dedicated service in Uganda. Over the past 30 years, Goldstar Insurance Company have grown alongside it’s clients, providing reliable insurance solutions that protect businesses, institutions, and individuals across the country and abroad.
This milestone reflects the company unwavering commitment to financial resilience, innovation, and customer satisfaction with valued clients, partners and team members for their trust and support throughout this journey.
Since 1996, GoldStar has grown into an established general insurer, building its business around prudent underwriting, claims settlement, customer service and long-term financial sustainability.
The anniversary comes at a significant point in GoldStar’s journey, with GCR Ratings reaffirming the company’s AA (UG) National Scale Financial Strength Rating with a Stable Outlook in May 2026. The rating reflects GoldStar’s strong capitalization, sound liquidity, governance framework and capacity to meet its obligations to policyholders.
WHY IS GOLDSTAR INSURANCE?
In 2025, Goldstar Insurance company recorded a statutory capital adequacy ratio of 311%, compared with the Insurance Regulatory Authority of Uganda’s minimum requirement of 200%, supported by a capital base of UGX 43.6bn.
Goldstar has also demonstrated sustained business growth. Insurance revenue increased by 21% to UGX 51.2 billion in 2025, while its market share rose to approximately 5.3%, supported by performance across engineering, transport and other commercial insurance lines.
However, this month of September 2026, the Chief Executive Officer John Kawuma reported that the company (GOLDSTAR) had written approximately UGX 53bn in business and paid about UGX 15bn in claims, demonstrating the central role claims settlement continues to play in GoldStar’s promise to policyholders.
The company payment has remained a major part of GoldStar’s record. The company reports having paid UGX 69bn in claims over the five years covered by its published corporate highlights, while its 2023 financial highlights recorded UGX 11.2bn in claims paid that year alone.
HIGHLIGHTS; THREE IMPORTANT DECADES OF MILESTONES;
Goldstar Insurance company’s journey, has been defined by steady expansion and institutional development. The company commenced operations in January 1996 and recorded a profit in its first year. Premiums written crossed UGX 5 billion in 2003, UGX 10bn in 2008, UGX 15bn in 2011 and UGX 20bn in 2012. In 2013, Goldstar attained ISO 9001:2008 certification, before becoming the first Ugandan insurance company to receive the ISO 9001:2015 Quality Management System standard in 2018.
The company’s financial-strength journey has developed alongside that growth. Goldstar received an A (UG) rating in 2007, later achieved A+ ratings and was upgraded to AA financial strength in 2023. Its AA (UG) rating has since been reaffirmed with a Stable Outlook in 2026.
Goldstar Insurance, has indicated plans to deepen investment in digital insurance platforms, enterprise management systems, artificial intelligence, cybersecurity, staff development and customer service, while continuing to strengthen its financial position and claims-paying capability.
The 30th anniversary of GoldStar Insurance marks a significant milestone, celebrating the company’s rich history of service and dedication. It also signifies a renewed commitment to the future, focusing on delivering dependable insurance protection, honoring legitimate claims, and actively contributing to the growth and resilience of Uganda’s insurance industry.
Here’s to many more years of safeguarding Uganda’s future!
Goldstar Insurance Company Limited – Protecting What Matters Most.
