Insurance

While Tanzania’s insurance premiums have increased over the past year, elevated competition has affected underwriting profits. Larger players may welcome an agenda of wholesale regulatory reform as a basis for more sustainable growth, but many insurers with lower levels of capitalisation face an uncertain period, as legislation is given an overhaul and more stringent requirements are established. Nevertheless, the country’s considerable population and low insurance penetration rate make it one of the most promising markets in the region over the long term. This chapter contains a viewpoint with Baghayo Abdallah Saqware, Commissioner, Tanzania Insurance Regulatory Authority.