Highlights

Gross Premium IncomeUGX 24.5 billion

  • Gross Premium Income

In 2018 Goldstar managed to achieve 18% growth in Gross Written Premiums, which far exceeded the industry average. Gross Premium Income has grown by over 25% in the last 5 years, and Goldstar has cemented a position within the Top 5 Insurance Companies in Uganda.

U/W ProfitUGX 1.6 billion

  • U/W Profit

Goldstar has consistently demonstrated strong underwriting profits year on year. This further highlights disciplined underwriting and excellent management of the business. Goldstar reinvests profits to ensure the financial stability of the company for many years to come.

Capital Adequacy Ratio 622%

  • Capital Adequacy Ratio

Goldstar has one of the highest capital adequacy ratios (CAR) in the Ugandan Insurance Industry at over 622%. The capital adequacy ratio measure the amount of capital an insurance company has relative to the minimum requirement by the regulatory – i.e. Goldstar has over 6 times the minimum requirement, further highlighting its financial strength.

CapitalUGX 24.9 billion

  • Capital

Goldstar has one of the highest capital reserves in the Ugandan insurance industry at UGX 24.9 billion. The minimum requirement in the industry currently is UGX 4 billion for insurance companies, therefore Goldstar has significantly more than the minimum as dictated by the Regulator. Having sufficient capital gives customers greater comfort that in the event of a claim, there are enough resources to settle all claims regardless of the size.

Liquidity Ratio 342%

  • Liquidity Ratio

The Liquidity Ratio reflects a company’s ability to meet its short-term financial obligations. Goldstar has a liquidity ratio in excess of 342% which means you have the assurance that in the event of a claim, Goldstar can settle all genuine claims quickly and in a timely manner.

Solvency Ratio 1575%

  • Solvency Ratio

The Solvency Ratio reflects a company’s ability to meet its long-term financial obligations. Goldstar has consistency held a high Solvency Ratio demonstrating its deep financial strength and capacity. In 2018, the Solvency Ratio stood at over 1575%.

Management Express Ratio 22%

  • Management Express Ratio

Management expense ratio remained low and below market average at 22% for the year ending 2018. Management expense control is important as it demonstrates efficient business operations and control on expenditure.

Loss Ratio 27%

  • Loss Ratio

Goldstar has one of the lowest loss ratios in the market, which highlights one of the key foundations of the business – prudent and disciplined underwriting. Loss ratio is the ratio between claims reported and the total premium written.

Combined Ratio 49%

  • Combined Ratio

Combined Ratio is the expenses and losses expressed as a percentage of the total premiums written. Goldstar had a combined ratio of 49% for the 2018 year, which is below the market average and significantly below the worldwide average. This further demonstrates the effective risk management procedures in place.