Insurance Companies
List of Insurance Companies in Tanzania in 2023
As of June 2023, there are 33 insurance companies licensed to operate in Tanzania, 1 takaful company, and 3 reinsurance companies.
Insurance Companies
| 1 | Alliance Insurance | |
| 2 | Alliance Life | |
| 3 | Assemble Insurance | |
| 4 | Beema Star Insurance | |
| 5 | Britam Insurance | |
| 6 | Bumaco Insurance | |
| 7 | Bumaco Life | |
| 8 | CRDB Insurance Company (CIC) | |
| 9 | First Assurance |  |
| 10 | GA Insurance | |
| 11 | Heritage Insurance | |
| 12 | Icea Lion Insurance | |
| 13 | Insurance Group of Tanzania | |
| 14 | Jubilee Allianz Insurance | |
| 15 | Jubilee Health Insurance | |
| 16 | Jubilee Life | |
| 17 | Maxinsure | |
| 18 | Mayfair Insurance | |
| 19 | Meticulous General | |
| 20 | Metro Life | |
| 21 | Mgen Insurance | |
| 22 | Milembe Insurance | |
| 23 | Mo Assurance | |
| 24 | National Insurance Corporation | |
| 25 | Phoenix Of Tanzania Assurance | |
| 26 | Reliance Insurance |  |
| 27 | Resolution Insurance | |
| 28 | Sanlam General |  |
| 29 | Sanlam Life | |
| 30 | Strategis Insurance |  |
| 31 | Tanzindia Assurance |  |
| 32 | Uap Insurance | |
| 33 | Zanzibar 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
| 1 | Tan-Re |  |
| 2 | Grand Re | |
| 3 | PanAfrique Re |
In addition, 22 foreign reinsurance companies are accredited to transact reinsurance business in Tanzania.
Reinsurance Companies Accredited in Tanzania
| 1 | Allianz Global Corporate & Specialty SE |
| 2 | Cica-Re |
| 3 | Constantia Insurance Company Limited |
| 4 | Continental Reinsurance Limited |
| 5 | East Africa Reinsurance Company |
| 6 | Factory Mutual Insurance Company |
| 7 | Ghana Reinsurance Company(Kenya) Limited |
| 8 | Grand Reinsurance Company Private Limited |
| 9 | Guardrisk Insurance Compoany Limited |
| 10 | Guardrisk International Limited Pcc |
| 11 | International General Insurance Co. Ltd |
| 12 | Mapfre Asistencia, Campania De Seguros Y Reaseguris, S.A |
| 13 | Munich Reinsurance Company of Africa Ltd |
| 14 | New Reinsurance Company Limited |
| 15 | Ocean International Reinsurance Company Limited |
| 16 | Optimum Global Insurance Company Limited |
| 17 | Rochester Reinsurance PLC |
| 18 | Santam Limited |
| 19 | Score Se |
| 20 | Swan Reinsurance PCC |
| 21 | The Hollard Insurance Company |
| 22 | Waica 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.
| 1 | Absa Bank Tanzania Ltd |
| 2 | Access Bank |
| 3 | Akiba Commercial Bank |
| 4 | Azania Bank |
| 5 | Bank Of Afria Tanzania Limited |
| 6 | Canara Bank |
| 7 | Crdb Bank Plc |
| 8 | Dcb Commercial Bank Plc |
| 9 | Diamond Trust Bank (T) Ltd |
| 10 | Ecobank Tanzania Limited |
| 11 | Equity Bank Tanzania Limited |
| 12 | Exim Bank Tanzania Ltd |
| 13 | Faidika Microfinance |
| 14 | Finca Microfinance Bank Limited |
| 15 | First Housing Finance Tanzania Limited |
| 16 | I & M Bank Tanzania Limited |
| 17 | Kcb Bank Tanzania Limited |
| 18 | Letshego Bank Tanzania Ltd |
| 19 | Maendeleo Bank |
| 20 | Mkombozi Commercial Bank |
| 21 | Mucoba Bank Public Limited Company |
| 22 | Mwalimu Commercial Bank Plc |
| 23 | Mwanga Hakika Microfinance Bank Limited |
| 24 | National Bank of Commerce limited |
| 25 | NCBA Bank Tanzania Limited |
| 26 | NMB Bank |
| 27 | Stanbic Bank Tanzania Ltd |
| 28 | Standard Chartered Bank Tz Ltd |
| 29 | Tanzania Commercial Bank |
| 30 | Uchumi Commercial Bank Limited |
Insurance Digital Platforms
Local mobile operators and other licensed Digital Platforms sell insurance products in Tanzania.
| 1 | Axieva Africa Lab |
| 2 | Bimatime Limited |
| 3 | I Link Limited |
| 4 | Imatic Technologies Limited |
| 5 | M-Pesa Limited |
| 6 | Macho Technologies Ltd |
| 7 | Ottimale Technologies Limited |
| 8 | Sandrox Company Limited |
| 9 | Ttcl Pesa |
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.
Last Updated: 1st June 2023
