The Tanzania Insurance Regulatory Authority has issued a pre-launch update ahead of its Insurance Market Performance Report 2024, reminding the public of key market performance indicators discussed at the launch of the 2023 report and outlining where the next launch will take place. At the 22 November 2024 launch of the 2023 report in Dar es Salaam, Insurance Commissioner Dr Baghayo Saqware highlighted positive growth across indicators including the number of insurance service providers and policyholders, premiums written and claims paid, average per-capita insurance spending, the insurance sector’s contribution to gross domestic product, insurers’ capital levels, and retention of premiums within Tanzania. He also referenced an industry objective to increase, by an average of 15% per year, the share of Tanzanians using insurance services to reach 50% by 2050, and linked further gains to sustained investment, stakeholder collaboration and greater use of technology. The event included a dedicated discussion on universal health insurance, covering implementation approaches and expected benefits for access to medical services. TIRA stated that the 2024 report will be launched in Dodoma at its headquarters building, TIRA BIMA HOUSE in Njedengwa, alongside the building’s official opening, with the launch to be streamed on YouTube and the authority’s social media channels.

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