The Tanzania Insurance Regulatory Authority (TIRA) launched its 2024 Insurance Market Performance Report, setting out key developments, challenges and the direction of Tanzania’s insurance sector. The report shows insurance’s contribution to GDP increased to 2.08% in 2024 from 2.01% in 2023, while the combined number of policyholders and beneficiaries rose 10.2% to 25.9 million from 23.5 million, equivalent to 39.2% compared with 37.7% in 2023. Coverage in the report includes insurance market development indicators, insurance dispute-resolution matters handled under TIO, and claims paid over the period, alongside awards recognising strong-performing service providers. Low public understanding of insurance was highlighted as a continuing constraint, with TIRA pointing to a planned National Insurance Education Strategy and increased use of digital channels to improve service delivery and inclusion.
Tanzania Insurance Regulatory Authority 2025-10-19
Tanzania Insurance Regulatory Authority publishes 2024 insurance market performance report as insurance contribution to GDP rises to 2.08%
The Tanzania Insurance Regulatory Authority's 2024 Insurance Market Performance Report notes insurance's GDP contribution rose to 2.08% and policyholders and beneficiaries increased by 10.2% to 25.9 million. It covers market development indicators, dispute resolution, and claims, highlighting low public understanding as a constraint. TIRA plans a National Insurance Education Strategy and enhanced digital channels to boost service delivery and inclusion.