History
NIC was established by Act of Parliament in 1964. Prior to 2005, 100% of the company was owned by the Government of Uganda. In June 2005, the Government of Uganda divested 60% of its shares in NIC. These shares were acquired by Industrial and General Insurance Company Limited (IGI) of Nigeria. In December 2009, the Government of Uganda began the process of divesting entirely from the company by floating its shares on the Uganda Securities Exchange (USE).
Read more about this topic: National Insurance Corporation
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