Bumaco has posted its first profits

For the first time ever, the insurer Bumaco reported a net profit as at December 31, 2010. The result amounted to 132.2 million TZS (90 438 USD). In 2009, Bumaco posted a loss of 20.3 million TZS (15 403 USD).
The company began operations 20 years ago as insurance agency of National Insurance Company (NIC), before becoming a brokerage firm in 1999. Only in August 2009 was the company turned into an insurance company.

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