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Mar 2016 Tanzanian insurance posted 300 million USD in turnover in 2015. According to a study conducted by Ernest & Young, the premium volume will amount to 400 million USD in 2018. This forecast takes into account the emergence of new insurance products, territorial expansion of players and of the options to play out with the advent of Islamic insurance.
According to the consultancy firm, bancassurance also accounts for the factor explaining production rise. Tanzania ranks fourth in terms of annual premium growth in Africa. Zambia, Nigeria and Ghana top the ranking with respective rates of 11%, 10% and 9%.