Why Tanzania’s insurance market remains stable

The Commissioner of Insurance, Dr Baghayo Saqware.

Dar es Salaam.  A new report from the insurance market shows that the market remained stable, with key indicators such as policyholders and beneficiaries increasing by 32.0 percent, alongside growth in claims and expanded employment opportunities.

The overall market grew by 7.4 percent, achieving Gross Premiums Written (GPW) of Sh1.24 trillion compared to previous years, the Tanzania Insurance Regulatory Authority (Tira) report for 2023 revealed.