The Tanzania Insurance Regulatory Authority reviewed insurance sector growth at its fifth staff meeting, reporting substantial increases in providers, usage and employment between 2019 and 2025. Insurance service providers rose from 800 to 2,444, while the share of people using insurance services increased from 8.4% to 38.6%. Formal sector employment more than doubled from 3,189 to 7,206 over the period, and insurance’s contribution to gross domestic product increased from 1.55% to 2.11%. The authority is pursuing strategies to raise that contribution to 5% by 2050, while the meeting also assessed its fiscal 2025-26 activities and priorities under its sixth strategic plan for fiscal 2026-27.
Tanzania Insurance Regulatory Authority2026-08-01
Tanzania Insurance Regulatory Authority reviews sector growth, insurance usage reaches 38.6% in 2025
The Tanzania Insurance Regulatory Authority reported that insurance usage rose from 8.4% in 2019 to 38.6% in 2025, while service providers increased from 800 to 2,444. The sector’s contribution to gross domestic product reached 2.11%, with the authority targeting 5% by 2050.