Goldstar Insrance Co. Ltd

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Financial Condition Report

An insight into our Financial health as reported to Insurance Regulatory Authority of Uganda at 31/12/2022

Financial Performance Statement (Amounts in Ushs '000') Dec-22 Dec-21
Gross written premium 32,285,330 28,225,283
Net earned premium 9,030,725 7,759,299
Net claims incurred (2,646,942) (4,292,668)
Net commissions incurred 2,392,053 3,467,029
Underwriting expenses (5,484,130) (5,091,243)
Investment income 1,833,140 1,459,723
Other income & expenses (14,326) 9,847
Other expenses (526,955) (283,751)
Profit before tax 4,583,565 3,028,236

1.Appropriate awareness and education programmes will be conducted to inform employees about AIDS and HIV which will enable them to protect themselves and others against infection by HIV. Some of these will include the families of employees and the local community

2.The Company will treat employees who are infected or affected by HIV/AIDS with empathy, care and reasonable assistance

3.It is the policy of the Company to respond to  the  changing  health  status  of  employees  by  making  reasonable  accommodation  in  the work place for those infected with HIV. Employees may continue to work as long as they are able to  perform  their  duties  safely  and  in  accordance  with  accepted  performance  standards

Employees living with HIV/AIDS will be treated no less favourably than staff with any other  serious  illness/condition  in  terms  of  statutory  and  company  benefits,  work place compensation, where appropriate, and other available services