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insurers/reinsurers/ insurance agents and insurance

brokers. The Insurance Supervisory Authority (ISA, which is

part of the MOF) assists the MOF in supervising the

insurance business and market in Vietnam. [11]

8. Uganda: The Insurance Regulatory Authority of Uganda

(IRAU) is a government agency mandated to "ensure the

effective administration, supervision, regulation and

control of the business of Insurance in Uganda".

The agency was created in 1997 by an Act of Parliament.

This followed the liberalization and privatization policies of

Uganda's government, which ended its direct provision of

goods and services and the adoption the role of supervisor

and regulator.
[12]

There is a seven-member board of directors for policy-

setting. The four member Senior Management Team also

sits on the board.

In July 2014, IRAU directed every insurer in the country to

form separate companies dealing in life business and

general business. The objective was to prevent a downturn

in one type of business from spreading risk across the

entire industry. Also, foreign insurance companies were

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