List Of Insurance Companies In Tanzania

List Of Insurance Companies In Tanzania

An Insurance company is a company that provides and sells insurance.

Insurance Companies

1Alliance Insurance
2Alliance Life
3Assemble Insurance
4Beema Star Insurance
5Britam Insurance
6Bumaco Insurance
7Bumaco Life
8CRDB Insurance Company (CIC)
9First Assurance
10GA Insurance
11Heritage Insurance
12Icea Lion Insurance
13Insurance Group of Tanzania
14Jubilee Allianz Insurance
15Jubilee Health Insurance
16Jubilee Life
18Mayfair Insurance
19Meticulous General
20Metro Life
21Mgen Insurance
22Milembe Insurance
23Mo Assurance
24National Insurance Corporation
25Phoenix Of Tanzania Assurance
26Reliance Insurance
27Resolution Insurance
28Sanlam General
29Sanlam Life
30Strategis Insurance
31Tanzindia Assurance
32Uap Insurance
33Zanzibar Insurance Corporation

Takaful (Islamic) Insurance Companies

There is only one licensed takaful insurance company in Tanzania: Zic Takaful Company Limited, a subsidiary of the Zanzibar Insurance Corporation.

Reinsurance Companies

2Grand Re
3PanAfrique Re

In addition, 22 foreign reinsurance companies are accredited to transact reinsurance business in Tanzania.

Reinsurance Companies Accredited in Tanzania

1Allianz Global Corporate & Specialty SE
3Constantia Insurance Company Limited
4Continental Reinsurance Limited
5East Africa Reinsurance Company
6Factory Mutual Insurance Company
7Ghana Reinsurance Company(Kenya) Limited
8Grand Reinsurance Company Private Limited
9Guardrisk Insurance Compoany Limited
10Guardrisk International Limited Pcc
11International General Insurance Co. Ltd
12Mapfre Asistencia, Campania De Seguros Y Reaseguris, S.A
13Munich Reinsurance Company of Africa Ltd
14New Reinsurance Company Limited
15Ocean International Reinsurance Company Limited
16Optimum Global Insurance Company Limited
17Rochester Reinsurance PLC
18Santam Limited
19Score Se
20Swan Reinsurance PCC
21The Hollard Insurance Company
22Waica Reinsurance (Kenya) Limited

Insurance Intermediaries and Other Service Providers 

Insurance Brokers 

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.

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 

30 bancassurance agents are licensed to operate in Tanzania as of June 2023 compared to 23 in 2021 and 14 in 2020.

1Absa Bank Tanzania Ltd
2Access Bank
3Akiba Commercial Bank
4Azania Bank
5Bank Of Afria Tanzania Limited
6Canara Bank
7Crdb Bank Plc
8Dcb Commercial Bank Plc
9Diamond Trust Bank (T) Ltd
10Ecobank Tanzania Limited
11Equity Bank Tanzania Limited
12Exim Bank Tanzania Ltd
13Faidika Microfinance
14Finca Microfinance Bank Limited
15First Housing Finance Tanzania Limited
16I & M Bank Tanzania Limited
17Kcb Bank Tanzania Limited
18Letshego Bank Tanzania Ltd
19Maendeleo Bank
20Mkombozi Commercial Bank
21Mucoba Bank Public Limited Company
22Mwalimu Commercial Bank Plc
23Mwanga Hakika Microfinance Bank Limited
24National Bank of Commerce limited
25NCBA Bank Tanzania Limited
26NMB Bank
27Stanbic Bank Tanzania Ltd
28Standard Chartered Bank Tz Ltd
29Tanzania Commercial Bank
30Uchumi Commercial Bank Limited

Insurance Digital Platforms 

Local mobile operators and other licensed Digital Platforms sell insurance products in Tanzania.

1Axieva Africa Lab
2Bimatime Limited
3I Link Limited
4Imatic Technologies Limited
5M-Pesa Limited
6Macho Technologies Ltd
7Ottimale Technologies Limited
8Sandrox Company Limited
9Ttcl Pesa