Insurance companies in Tanzania: 2024 ranking

March 10, 2026
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In thousands

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Companies2024 turnover2023 turnover2023-2024 evolution (1)2024 shares
TZSUSDTZSUSD
Alliance131 154 00053 773110 279 00044 11218.9%9.0%
Strategis127 046 00052 089109 211 00043 68416.3%8.7%
NIC120 663 00049 47299 016 00039 60621.9%8.3%
Jubilee Allianz84 311 00034 56783 994 00033 5980.4%5.8%
Heritage70 698 00028 98662 405 00024 96213.3%4.9%
ZIC59 097 00024 23038 609 00015 44453.1%4.1%
Reliance50 677 00020 77844 774 00017 91013.2%3.5%
MUA49 021 00020 09941 081 00016 43219.3%3.4%
Mayfair47 610 00019 52042 829 00017 13211.2%3.3%
Assemble42 636 00017 48137 651 00015 06013.2%2.9%
Sanlam General42 180 00017 29438 697 00015 4799.0%2.9%
Jubilee Health41 366 00016 96032 189 00012 87628.5%2.8%
Britam38 249 00015 68238 012 00015 2050.6%2.6%
MO32 745 00013 42529 372 00011 74911.5%2.3%
ICEA Lion31 256 00012 81525 933 00010 37320.5%2.1%
CRDB26 899 00011 0291 840 0007361361.9%1.9%
Meticulous25 953 00010 64128 506 00011 402-9.0%1.8%
Tanzindia21 152 0008 67219 262 0007 7059.8%1.5%
Newtan20 595 0008 44418 740 0007 4969.9%1.4%
Bumaco19 288 0007 90817 845 0007 1388.1%1.3%
First17 020 0006 97815 031 0006 01213.2%1.2%
GA14 276 0005 85312 258 0004 90316.5%1.0%
Maxinsure9 442 0003 87110 241 0004 096-7.8%0.6%
Milembe7 931 0003 2526 942 0002 77714.2%0.5%
Resolution6 882 0002 821821 000328738.2%0.5%
MGen6 434 0002 6386 434 0002 5740.0%0.4%
Beema Star81 0003334 00013138.2%0.0%
IGT--2 660 0001 064--
Non-life total1 144 662 000469 311974 666 000389 86617.4%78.7%
Sanlam Life202 569 00083 053177 183 00070 87314.3%13.9%
Jubilee Life37 149 00015 23122 827 0009 13162.7%2.6%
Alliance Life35 726 00014 64837 615 00015 046-5.0%2.5%
Metro Life18 010 0007 38412 758 0005 10341.2%1.2%
NIC14 780 0006 06011 773 0004 70925.5%1.0%
Bumaco Life759 000311537 00021541.3%0.1%
Life total308 993 000126 687262 693 000105 07717.6%21.3%
Grand total1 453 655 000595 9981 237 359 000494 94317.5%100%

(1) Growth rate in TZS
Exchange rate as at 12/31/2024: 1 TZS = 0.00041 USD; as at 12/31/2023: 1 TZS = 0.0004 USD


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