What is ICOGU?

The Insurance Consortium for Oil and Gas Uganda (ICOGU) is a body consisting of local licensed Non-Life Insurance Companies to provide insurance cover to the Oil & Gas sector under a co-insurance arrangement. ICOGU is managed by the national reinsurance company- Uganda Reinsurance Company.

As a special purpose vehicle, the Consortium only insures medium and high risks implemented through well-constructed contracts that particularly relate to the International Oil Companies, the East Africa Crude Oil Pipeline (EACOP) and the Refinery Consortium.


In the wake of the Oil and Gas sector in Uganda, it was evident that the risks to be covered were too enormous to be adequately insured in Uganda. 

Therefore, in a bid to grow local capacity and ensure that the risks are sufficiently covered, the insurance industry players under the Insurance Regulatory Authority (IRA) sanctioned the formation of the Insurance Consortium for Oil and Gas Uganda (ICOGU), a co-insurance group, consisting of licensed local insurance companies, to undertake local insurance for the oil and gas sector in Uganda in accordance with the Insurance Act. 

It was set up to enable and foster consolidation of the financial and technical capacity required of insurance companies participating in the underwriting of oil and gas risks. This consortium came into force in 2016. 


  • To provide a framework for regulation, supervision, monitoring and control of the Consortium.
  • To facilitate and consolidate the financial and technical capacity of the Ugandan insurance companies to participate in the underwriting of oil and gas risks.
  • To enable local retention and effective spread of risks amongst Ugandan insurance and reinsurance companies. 
  • To protect the interests of Ugandans and enhance local capacity in tandem with local content requirements.
  • To provide an arrangement that is fair, open, and equitable for the participation of other insurance intermediaries in the oil and gas sector in Uganda.

ICOGU Membership

  • Alliance Africa General Insurance Ltd
  • APA Insurance (Uganda) Limited
  • Britam Insurance Company (Uganda) Ltd
  • Excel Insurance Company Ltd
  • First Insurance Company Ltd
  • GoldStar Insurance Company Ltd
  • Liberty General Insurance Uganda Ltd
  • Jubilee Allianz General Insurance Company Ltd
  • MUA Insurance Uganda Ltd
  • NIC General Insurance Company Ltd
  • GA Insurance Uganda Limited
  • Pax Insurance Company Limited
  • Sanlam General Insurance Uganda Ltd
  • Statewide Insurance Company Ltd
  • TransAfrica Assurance Company Ltd.
  • UAP Old Mutual Insurance Uganda Ltd.
  • ICEA LION General Insurance Co. (U) Ltd
  • CIC General Insurance Uganda Ltd.
  • Mayfair Insurance Company Uganda Ltd