Magazine date:
Apr 2017 Tanzania Reinsurance (Tan Re) recorded a significant decline of 50% in its pre-tax result from 6.08 billion TZS (2.873 million USD) in 2015 to 3.29 billion TZS (1.55 million USD) on December 31, 2016. The reason is that the reinsurer sustained, during the past year, an increase in its loss experience coupled with a rise in its overhead expenses.
However, the volume of premiums amounting to 60.58 billion TZS (28.63 million USD) in 2015 rose by 3% to 62.4 billion TZS (29.4 million USD) in 2016.
More news