The Ministry of Finance and Economic Planning has unveiled Rwanda's first National Insurance Strategy (NIS). This positions insurance as a critical pillar for economic resilience, aligning with Rwanda's ambitious vision to achieve upper-middle-income status by 2035 and high-income status by 2050, the ministry said in a statement.
The Strategy was launched by the Minister of Finance and Economic Planning Yusuf Murangwa, during the Inclusive FinTech Forum 2026 last week.
The Strategy sets clear and measurable targets to be met by 2035:
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Insurance penetration to grow from 1.9% to 5%
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Insurance density to increase from RWF25,000 ($17.15) to RWF45,000
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Policyholder coverage to expand from 27% to 45%
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Insurance sector assets to rise from 6% to 16% of GDP
Developed by the National Bank of Rwanda (BNR), which is the country’s central bank, the Strategy will guide reforms aimed at making insurance services more accessible, efficient, and trusted by the public, while also encouraging innovation and stronger participation from private-sector players.
Strategic pillars
The Strategy is built around eight key pillars:
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Public awareness and education
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Digital transformation
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Universal coverage and inclusion
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Financial sustainability
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Customer-focused products
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Governance and regulation
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Integration with social protection
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Climate & disaster risk resilience
There are practical initiatives under each pillar to ensure the realisation of NIS targets.
The NIS will be implemented in four phases, with quick wins to be achieved in the first two years. An NIS Secretariat will be established to drive implementation.