Dar es Salaam. Tanzania’s insurance market recorded a 19.11 percent growth last year, driven by the entry of new companies and an expanding range of insurance solutions, according to industry stakeholders.
An unaudited report compiled by the Association of Tanzania Insurers (ATI) indicates that Gross Premium Written (GPW) rose to Sh1.47 trillion in 2024, up from Sh1.24 trillion the previous year.
The increase was attributed to multiple factors, including market expansion and the introduction of diverse insurance products.
The report further revealed that out of 30 non-life insurance companies, only three experienced a decline in performance. Meanwhile, all but one of the six life insurance firms recorded positive growth.
CRDB Insurance Co Ltd, which entered the market two years ago, demonstrated remarkable growth, increasing its GPW from Sh1.8 billion to Sh26.8 billion.
Speaking to The Citizen, insurance specialist Jumanne Mbepo said: “The growth rate is a positive sign, but it remains below the 22 percent target needed to achieve and attain a 5 percent insurance premium-to-GDP penetration by 2030.”
Mr Mbepo emphasised that the expansion of new insurance companies had widened market reach and solutions.
“CRDB Insurance has emerged as the fastest-growing company, while Jubilee Life, a pioneer in individual life products, has grown by more than 50 percent,” he said.
He also pointed to the increasing demand for Islamic insurance called Takaful, indicating a previously untapped market for Islamic insurance solutions.
“We have seen notable growth in life insurance, rising by around seven percent in 2023, driven by an increased uptake of both individual and group products, spurred by the entrance of new companies,” he added.
Acclavia Insurance Brokers & Risk Consultants managing director, Dr Anselmi Anselmi, expressed optimism about the sector’s trajectory, citing economic stability and regulatory support as key drivers. He projected that Tanzania’s insurance market could soon reach the Sh2 trillion mark.
Dr Anselmi stressed the need for targeted interventions, including inclusive insurance, digital distribution, and regulatory incentives, to accelerate the market’s expansion.
“To achieve this target, we need strategic interventions in key economic sectors and regulatory support to catalyse the necessary growth towards a Sh10 trillion premium volume,” he explained.
He also credited President Samia Suluhu Hassan’s leadership for creating a conducive investment climate, stating: “The President has opened up the country, attracting investors and driving economic projects that have directly benefitted the insurance industry. Without new projects, insurance would struggle to grow.”
Industry experts have proposed various strategies to boost the insurance sector, including strengthening public-private partnerships (PPPs) to enhance insurance uptake.
They also advocate for tax incentives on life and health insurance premiums, the removal of Value Added Tax (VAT) on general insurance, and the enforcement of new mandatory insurance regulations. These include compulsory fire insurance for public buildings and marine insurance for water vessels, including pontoons.
With these measures in place, stakeholders remain confident that Tanzania’s insurance sector will continue its upward trajectory, contributing more significantly to economic development.
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Tanzania Confirms Outbreak of Marburg Virus Disease
Dodoma — Tanzania today confirmed an outbreak of Marburg virus disease in the northwestern Kagera region after one case tested positive for the virus following investigations and laboratory analysis of suspected cases of the disease.
President of the Republic of Tanzania, Her Excellency Samia Suluhu Hassan, made the announcement during a press briefing alongside World Health Organization (WHO) Director-General, Dr Tedros Adhanom Ghebreyesus, in the country’s administrative capital Dodoma.
“Laboratory tests conducted in Kabaile Mobile Laboratory in Kagera and later confirmed in Dar es Salaam identified one patient as being infected with the Marburg virus. Fortunately, the remaining suspected patients tested negative,” the president said. “We have demonstrated in the past our ability to contain a similar outbreak and are determined to do the same this time around.”
A total of 25 suspected cases have been reported as of 20 January 2025, all of whom have tested negative and are currently under close follow-up, the president said. The cases have been reported in Biharamulo and Muleba districts in Kagera.
“We have resolved to reassure the general public in Tanzania and the international community as a whole of our collective determination to address the global health challenges, including the Marburg virus disease,” said H.E President Hassan.
WHO is supporting Tanzanian health authorities to enhance key outbreak control measures including disease surveillance, testing, treatment, infection prevention and control, case management, as well as increasing public awareness among communities to prevent further spread of the virus.
“WHO, working with its partners, is committed to supporting the government of Tanzania to bring the outbreak under control as soon as possible, and to build a healthier, safer, fairer future for all the people of Tanzania,” said Dr Tedros. “Now is a time for collaboration, and commitment, to protecting the health of all people in Tanzania, and the region, from the risks posed by this disease.”
Marburg virus disease is highly virulent and causes haemorrhagic fever. It belongs to the same family as the virus that causes Ebola virus disease. Illness caused by Marburg virus begins abruptly. Patients present with high fever, severe headache and severe malaise. They may develop severe haemorrhagic symptoms within seven days.
“The declaration by the president and the measures being taken by the government are crucial in addressing the threat of this disease at the local and national levels as well as preventing potential cross-border spread,” said Dr Matshidiso Moeti, WHO Regional Director for Africa. “Our priority is to support the government to rapidly scale up measures to effectively respond to this outbreak and safeguard the health of the population,”
Tanzania previously reported an outbreak of Marburg in March 2023 – the country’s first – in Kagera region, in which a total of nine cases (eight confirmed and one probable) and six deaths were reported, with a case fatality ratio of 67%.
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In the African region, previous outbreaks and sporadic cases have been reported in Angola, the Democratic Republic of the Congo, Ghana, Kenya, Equatorial Guinea, Rwanda, South Africa and Uganda.
Marburg virus is transmitted to people from fruit bats and spreads among humans through direct contact with the bodily fluids of infected people, surfaces and materials. Although several promising candidate medical countermeasures are currently undergoing clinical trials, there is no licensed treatment or vaccine for effective management or prevention of Marburg virus disease. However, early access to treatment and supportive care – rehydration with oral or intravenous fluids – and treatment of specific symptoms, improve survival.
Source: allafrica.com
