Tanzania Insurance Regulatory Authority (TIRA) Insurance Commissioner Dr Baghayo Saqware used remarks at the Bima Debate event in Dar es Salaam to encourage young people, including secondary school and university students, to address insurance market challenges through innovation. He also pointed to measures taken by the authority to support insurance market development, stating that the market has grown by 15% per year for five consecutive years, reflected in indicators including a rise in insurance service providers, increased employment in the sector, and greater retention of insurance premium income domestically. The Bima Debate was held in the run-up to Insurance Day 2025 and was organised by the Insurance Institute of Tanzania in collaboration with TIRA.
Tanzania Insurance Regulatory Authority 2025-05-24
Tanzania Insurance Regulatory Authority urges youth-led innovation and reports 15% annual insurance market growth over five years
Tanzania Insurance Regulatory Authority Commissioner Dr. Baghayo Saqware urged youth to tackle insurance market challenges through innovation at the Bima Debate in Dar es Salaam. He highlighted the market's 15% annual growth over five years, with increased service providers, employment, and domestic premium retention. The event was organized by the Insurance Institute of Tanzania with TIRA ahead of Insurance Day 2025.