Rwanda: Insurers request the introduction of bancassurance

Just like the neighboring countries, Rwandan insurers are asking for an amendment of the legislation with a view to instituting bancassurance. Lagging behind in terms of growth drivers, the penetration rate has been stagnant at 1.5% for three years now.

According to analysts, marketing of insurance products by the banks is likely to boost substantially the turnover of the business and to double the insurance penetration rate.

In Kenya and Tanzania, banks will now be able to distribute insurance policies. In Uganda, the Parliament has recently voted in favor of a law in this regard.

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