Tanzania Insurance Regulatory Authority (“TIRA”) is a government agency responsible for supervision of insurance players.  TIRA registers insurers, insurance brokers, insurance agents, insurance surveyors, loss assessors and adjusters.  Monitoring of insurance registrants is done by means of inspections and processing of applications for registration/renewal of the same.

Tanzania Insurance sector 2023 .As of January 2023, the Tanzanian insurance sector consists of 31 insurance companies and 3 reinsurance companies, as well as insurance brokers, insurance agents, and bancassurance agents.

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According to the latest available data provided by the Tanzania Insurance Regulatory Authority (TIRA), Tanzania’s insurance industry gross written premiums (GWP) amounted to TZS 911.5 billion for the year ended 31 December 2021, representing a nominal increase of 11% from TZS 824 billion written in 2020. The growth in GWP in 2020 was 1.2%

General insurance business recorded a total GWP of TZS 746.4 billion which represents an increase of 8.4% compared to a gross premium written of TZS 688.6 billion during 2020.

Life assurance business volume has increased by 21.6% from TZS 135.7 billion in 2020 to TZS 165.0 billion in 2021

The insurance penetration (GWP / GDP) for the insurance business provided by insurance companies only for 2021 was 0.58% (GWP TZS 911.5 billion / GDP TZS 157,798.5 billion).

However overall insurance penetration which includes public and private insurance as a percentage of GDP was approximately 1.68% in 2021. The ratio slightly increased compared to a penetration ratio of 1.55% in 2020 and 1.58% in 2019


Tanzania Insurance Intermediaries and Other Service Providers 

Insurance Brokers

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The total number of registered brokers in 2021 was 81 compared to 76 and 100 in 2020 and 2019 respectively. The trend of brokers’ registration increased by approximately 6.6% from 2020. As of 31st December 2022, the number has increased to 113.

Reinsurance Brokers 

In 2022, six reinsurance brokers were licensed in Tanzania as opposed to four in 2021.

In addition, 36 foreign reinsurance brokers are accredited to transact reinsurance business in Tanzania.

Tanzania Insurance sector 2023
Tanzania Insurance sector 2023

Insurance Agents 

The total number of registered insurance agents as of 31st December 2022 was 1,294, compared to 789 in 2021, 745 in 2020, and 605 in 2019.

Bancassurance Agents 

31 bancassurance agents were licensed to operate in the insurance market as of 31st December 2022 compared to 23 in 2021 and 14 in 2020.

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Insurance Digital Platforms 

Tanzania Insurance sector, As of December 2022, 4 out of the 5 mobile operators active in Tanzania sell insurance products namely Vodacom, Tigo, Airtel, and TTCL. Other licensed Digital Platforms include Axieva Africa Lab, and Imatic Technologies.

Actuarial Firms 

The total number of licensed actuarial firms is four in 2021 compared to three and two in 2020 and 2019 respectively.

Insurance Private Investigators 

Three Insurance Private investigators are licensed in 2022, as in 2020 and 2019.


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