Report Published: ""The Insurance Industry in Tanzania, Key Trends and Opportunities to 2018"

From: Fast Market Research, Inc.
Published: Tue Aug 12 2014

The Tanzanian insurance industry is in a growth phase, and a large proportion of the population is untapped. The industry registered a review-period (2009-2013) compound annual growth rate (CAGR) of 18.8%. The growth was due to the strong performance of the life segment, which registered a review-period CAGR of 22.2%. The personal accident and health insurance segment registered a review-period CAGR of 18.8%, while the non-life insurance segment registered a CAGR of 18.4%. The industry's growth was supported by efficiency in the regulatory structure, economic stability, and rising customer awareness of the benefits of insurance.

Report Highlights

* The industry was served by 28 insurance companies, including reinsurers, as well as 79 brokers, 260 agents and 39 loss assessors and loss adjusters as of 2012.
* Health insurance is booming in Tanzania. Its gross written premium represents 57.7% of the total personal accident and health insurance segment's share.
* Tanzania allows 66% foreign direct investment (FDI) in the insurance industry.
* Tanzania is one of the world's largest producers of gold, which accounts for 3.6% of the country's tax revenues.
* Coffee exports have led to the country's economic growth and development, supporting overall insurance industry growth, marine and transit insurance in particular.
* Tanzania is one of the world's poorest countries in terms of per capita income, and poverty has been a major obstacle to growth in the Tanzanian economy and insurance industry.
* The insurance industry in Tanzania is facing a challenge in terms of shortage of skilled local talent and the increasing cost of acquiring and retaining talented resources.

Full Report Details at

Report Scope

This report provides a comprehensive analysis of the insurance industry in Tanzania:

* It provides historical values for the Tanzanian insurance industry for the report's 2009-2013 review period and forecast figures for the 2013-2018 forecast period.
* It offers a detailed analysis of the key segments and categories in the Tanzanian insurance industry, along with forecasts until 2018.
* It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions.
* It profiles the top insurance companies in Tanzania, and outlines the key regulations affecting them.

Reasons to Get this Report

* Make strategic business decisions using in-depth historic and forecast industry data related to the Tanzanian insurance industry and each segment within it.
* Understand the demand-side dynamics, key trends and growth opportunities within the Tanzanian insurance industry.
* Assess the competitive dynamics in the Tanzanian insurance industry.

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