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The Insurance Industry in Tanzania, Key Trends and Opportunities to 2019

The Insurance Industry in Tanzania, Key Trends and Opportunities to 2019

Synopsis

Timetric’s ' The Insurance Industry in Tanzania, Key Trends and Opportunities to 2019' report provides detailed analysis of the Tanzanian insurance industry.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2010–2014) and forecast period (2014–2019).

The report also analyzes distribution channels operating in the industry, gives a comprehensive overview of the Tanzanian economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric’s 'The Insurance Industry in Tanzania, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Tanzanian insurance industry, including:

  • The Tanzanian insurance industry's growth prospects by segment and category
  • A comprehensive overview of Tanzanian economy and demographics
  • The detailed competitive landscape in the Tanzanian insurance industry
  • Analysis of distribution channels in the Tanzanian insurance industry
  • Detailed regulatory policies of the Tanzanian insurance industry
  • Analysis of natural hazards in Tanzanian insurance industry
Scope

This report provides a comprehensive analysis of the insurance industry in Tanzania:
  • It provides historical values for the Tanzanian insurance industry for the report’s 2010–2014 review period, and projected figures for the 2014–2019 forecast period.
  • It offers a detailed analysis of the key segments in the Tanzanian insurance industry, along with market forecasts until 2019.
  • It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions.
  • It analyzes the various distribution channels in Tanzania.
  • It profiles the top insurance companies in Tanzania and outlines the key regulations affecting them.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the Tanzanian insurance industry and each segment and category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Tanzanian insurance industry.
  • Assess the competitive dynamics in the Tanzanian insurance industry.
  • Identify the growth opportunities and market dynamics in key segments.
  • Gain insights into key regulations governing the Tanzanian insurance industry and their impact on companies and the industry's future.
Key Highlights
  • As of 2013, there were five life insurers, 25 general insurers and one reinsurer operational.
  • Tanzanian insurance penetration stood at 0.65% in 2014, which is low compared to other African countries such as Kenya (3.2%), Uganda (0.85%) and Rwanda (1.0%).
  • The personal accident and health segment registered a review-period CAGR of 18.5%, while the non-life segment recorded a CAGR of 15.0%.
  • The adoption of multi distribution strategy will enhance the growth of the insurance industry over the forecast period.
  • Factors such as economic growth, government investments in infrastructure, and a rising population will drive the industry over the forecast period.


  • Key Facts and Highlights
    • Table Tanzanian Insurance Industry - Key Facts
  • Executive Summary
  • Introduction
    • What is this Report About?
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • Economy and Demographics
  • Tanzanian Insurance Industry Overview
    • Table Tanzanian Insurance Gross Written Premium by Segment (TZS Billion), 2010-2014
    • Table Tanzanian Insurance Gross Written Premium by Segment (US$ Million), 2010-2014
    • Table Tanzanian Insurance Gross Written Premium by Segment (TZS Billion), 2014-2019
    • Table Tanzanian Insurance Gross Written Premium by Segment (US$ Million), 2014-2019
    • Table Tanzanian Insurance Segmentation by Gross Written Premium (% Share), 2010-2019
    • Table Tanzanian Insurance Direct Written Premium by Segment (TZS Billion), 2010-2014
    • Table Tanzanian Insurance Direct Written Premium by Segment (US$ Million), 2010-2014
    • Table Tanzanian Insurance Direct Written Premium by Segment (TZS Billion), 2014-2019
    • Table Tanzanian Insurance Direct Written Premium by Segment (US$ Million), 2014-2019
    • Table Tanzanian Insurance Segmentation by Direct Written Premium (Percentage Share), 2010-2019
  • Industry Segmentation
    • Life Insurance
      • Table Tanzanian Life Insurance - Gross Written Premium by Sub-Segment (TZS Billion), 2010-2014
      • Table Tanzanian Life Insurance - Gross Written Premium by Sub-Segment (US$ Million), 2010-2014
      • Table Tanzanian Life Insurance - Gross Written Premium by Sub-Segment (TZS Billion), 2014-2019
      • Table Tanzanian Life Insurance - Gross Written Premium by Sub-Segment (US$ Million), 2014-2019
      • Table Tanzanian Life Insurance Segmentation by Gross Written Premium (Percentage Share), 2010-2019
      • Table Tanzanian Life Insurance - Direct Written Premium by Sub-Segment (TZS Billion), 2010-2014
      • Table Tanzanian Life Insurance - Direct Written Premium by Sub-Segment (US$ Million), 2010-2014
      • Table Tanzanian Life Insurance - Direct Written Premium by Sub-Segment (TZS Billion), 2014-2019
      • Table Tanzanian Life Insurance - Direct Written Premium by Sub-Segment (US$ Million), 2014-2019
      • Table Tanzanian Life Insurance Segmentation by Direct Written Premium (Percentage Share), 2010-2019
    • Individual Life Insurance
      • Table Tanzanian Individual Life Insurance - Gross Written Premium by Category (TZS Billion), 2010-2014
      • Table Tanzanian Individual Life Insurance - Gross Written Premium by Category (US$ Million), 2010-2014
      • Table Tanzanian Individual Life Insurance - Gross Written Premium by Category (TZS Billion), 2014-2019
      • Table Tanzanian Individual Life Insurance - Gross Written Premium by Category (US$ Million), 2014-2019
      • Table Tanzanian Individual Life Insurance - Direct Written Premium by Category (TZS Billion), 2010-2014
      • Table Tanzanian Individual Life Insurance - Direct Written Premium by Category (US$ Million), 2010-2014
      • Table Tanzanian Individual Life Insurance - Direct Written Premium by Category (TZS Billion), 2014-2019
      • Table Tanzanian Individual Life Insurance - Direct Written Premium by Category (US$ Million), 2014-2019
      • Table Tanzanian Life Insurance - Paid Claims (TZS Billion), 2010-2014
      • Table Tanzanian Life Insurance - Paid Claims (TZS Billion), 2014-2019
      • Table Tanzanian Life Insurance - Incurred Loss (TZS Billion), 2010-2014
      • Table Tanzanian Life Insurance - Incurred Loss (TZS Billion), 2014-2019
      • Table Tanzanian Life Insurance - Net Written Premium as a Percentage of GWP (%), 2010-2014
      • Table Tanzanian Life Insurance - Net Written Premium as a Percentage of GWP (%), 2014-2019
      • Table Tanzanian Life Insurance - Total Assets (TZS Billion), 2010-2014
      • Table Tanzanian Life Insurance - Total Assets (TZS Billion), 2014-2019
      • Table Tanzanian Life Insurance - Total Investment Income (TZS Billion), 2010-2014
      • Table Tanzanian Life Insurance - Total Investment Income (TZS Billion), 2014-2019
      • Table Tanzanian Life Insurance - Net Written Premium (TZS Billion), 2010-2014
      • Table Tanzanian Life Insurance - Net Written Premium (TZS Billion), 2014-2019
    • Life Insurance by Category
      • Individual whole life insurance
        • Table Tanzanian Individual Whole Life Insurance - Gross Written Premium (TZS Billion), 2010-2014
        • Table Tanzanian Individual Whole Life Insurance - Gross Written Premium (TZS Billion), 2014-2019
      • Individual other insurance
        • Table Tanzanian Individual Others Insurance - Gross Written Premium (TZS Billion), 2010-2014
        • Table Tanzanian Individual Others Insurance - Gross Written Premium (TZS Billion), 2014-2019
    • Non-Life Insurance
      • Table Tanzanian Non-Life Insurance - Gross Written Premium by Category (TZS Billion), 2010-2014
      • Table Tanzanian Non-Life Insurance - Gross Written Premium by Category (US$ Million), 2010-2014
      • Table Tanzanian Non-Life Insurance - Gross Written Premium by Category (TZS Billion), 2014-2019
      • Table Tanzanian Non-Life Insurance - Gross Written Premium by Category (US$ Million), 2014-2019
      • Table Tanzanian Non-Life Insurance - Paid Claims (TZS Billion), 2010-2014
      • Table Tanzanian Non-Life Insurance - Paid Claims (TZS Billion), 2014-2019
      • Table Tanzanian Non-Life Insurance - Incurred Loss (TZS Billion), 2010-2014
      • Table Tanzanian Non-Life Insurance - Incurred Loss (TZS Billion), 2014-2019
      • Table Tanzanian Non-Life Insurance - Loss Ratio (%), 2010-2014
      • Table Tanzanian Non-Life Insurance - Loss Ratio (%), 2014-2019
      • Table Tanzanian Non-Life Insurance - Combined Ratio (%), 2010-2014
      • Table Tanzanian Non-Life Insurance - Combined Ratio (%), 2014-2019
      • Table Tanzanian Non-Life Insurance - Total Assets (TZS Billion), 2010-2014
      • Table Tanzanian Non-Life Insurance - Total Assets (TZS Billion), 2014-2019
      • Table Tanzanian Non-Life Insurance - Total Investment Income (TZS Billion), 2010-2014
      • Table Tanzanian Non-Life Insurance - Total Investment Income (TZS Billion), 2014-2019
      • Table Tanzanian Non-Life Insurance - Net Written Premium (TZS Billion), 2010-2014
      • Table Tanzanian Non-Life Insurance - Net Written Premium (TZS Billion), 2014-2019
      • Property insurance
        • Table Tanzanian Property Insurance - Gross Written Premium (TZS Billion), 2010-2014
        • Table Tanzanian Property Insurance - Gross Written Premium (TZS Billion), 2014-2019
      • Motor insurance
        • Table Tanzanian Motor Insurance - Gross Written Premium (TZS Billion), 2010-2014
        • Table Tanzanian Motor Insurance - Gross Written Premium (TZS Billion), 2014-2019
      • Liability insurance
        • Table Tanzanian Liability Insurance - Gross Written Premium (TZS Billion), 2010-2014
        • Table Tanzanian Liability Insurance - Gross Written Premium (TZS Billion), 2014-2019
      • Marine, aviation and transit insurance
        • Table Tanzanian Marine, Aviation and Transit Insurance - Gross Written Premium (TZS Billion), 2010-2014
        • Table Tanzanian Marine, Aviation and Transit Insurance - Gross Written Premium (TZS Billion), 2014-2019
    • Personal Accident and Health Insurance
      • Table Tanzanian Personal Accident and Health Insurance - Gross Written Premium by Category (TZS Billion), 2010-2014
      • Table Tanzanian Personal Accident and Health Insurance - Gross Written Premium by Category (US$ Million), 2010-2014
      • Table Tanzanian Personal Accident and Health Insurance - Gross Written Premium by Category (TZS Billion), 2014-2019
      • Table Tanzanian Personal Accident and Health Insurance - Gross Written Premium by Category (US$ Million), 2014-2019
      • Table Tanzanian Personal Accident and Health Insurance - Direct Written Premium by Category (TZS Billion), 2010-2014
      • Table Tanzanian Personal Accident and Health Insurance - Direct Written Premium by Category (US$ Million), 2010-2014
      • Table Tanzanian Personal Accident and Health Insurance - Direct Written Premium by Category (TZS Billion), 2014-2019
      • Table Tanzanian Personal Accident and Health Insurance - Direct Written Premium by Category (US$ Million), 2014-2019
      • Table Tanzanian Personal Accident and Health Insurance - Paid Claims (TZS Billion), 2010-2014
      • Table Tanzanian Personal Accident and Health Insurance - Paid Claims (TZS Billion), 2014-2019
      • Table Tanzanian Personal Accident and Health Insurance - Incurred Loss (TZS Billion), 2010-2014
      • Table Tanzanian Personal Accident and Health Insurance - Incurred Loss (TZS Billion), 2014-2019
      • Table Tanzanian Personal Accident and Health Insurance - Loss Ratio (%), 2010-2014
      • Table Tanzanian Personal Accident and Health Insurance - Loss Ratio (%), 2014-2019
      • Table Tanzanian Personal Accident and Health Insurance - Combined Ratio (%), 2010-2014
      • Table Tanzanian Personal Accident and Health Insurance - Combined Ratio (%), 2014-2019
      • Table Tanzanian Personal Accident and Health Insurance - Total Assets (TZS Billion), 2010-2014
      • Table Tanzanian Personal Accident and Health Insurance - Total Assets (TZS Billion), 2014-2019
      • Table Tanzanian Personal Accident and Health Insurance - Total Investment Income (TZS Billion), 2010-2014
      • Table Tanzanian Personal Accident and Health Insurance - Total Investment Income (TZS Billion), 2014-2019
      • Table Tanzanian Personal Accident and Health Insurance - Net Written Premium (TZS Billion), 2010-2014
      • Table Tanzanian Personal Accident and Health Insurance - Net Written Premium (TZS Billion), 2014-2019
      • Personal accident insurance
        • Table Tanzanian Personal Accident Insurance - Gross Written Premium (TZS Billion), 2010-2014
        • Table Tanzanian Personal Accident Insurance - Gross Written Premium (TZS Billion), 2014-2019
      • Health insurance
        • Table Tanzanian Health Insurance - Gross Written Premium (TZS Billion), 2010-2014
        • Table Tanzanian Health Insurance - Gross Written Premium (TZS Billion), 2014-2019
    • Reinsurance
      • Table Tanzanian Reinsurance Accepted - By Category (TZS Billion), 2010-2014
      • Table Tanzanian Reinsurance Accepted - By Category (US$ Million), 2010-2014
      • Table Tanzanian Reinsurance Accepted - By Category (TZS Billion), 2014-2019
      • Table Tanzanian Reinsurance Accepted - By Category (US$ Million), 2014-2019
      • Table Tanzanian Reinsurance - Premium Ceded (Excluding Retrocession) by Insurance Segment (TZS Billion), 2010-2014
      • Table Tanzanian Reinsurance - Premium Ceded (Excluding Retrocession) by Insurance Segment (US$ Million), 2010-2014
      • Table Tanzanian Reinsurance - Premium Ceded (Excluding Retrocession) by Insurance Segment (TZS Billion), 2014-2019
      • Table Tanzanian Reinsurance - Premium Ceded (Excluding Retrocession) by Insurance Segment (US$ Million), 2014-2019
      • Table Tanzanian Life Insurance - Percentage of Premium Ceded (Excluding Retrocession), 2010-2014
      • Table Tanzanian Life Insurance - Percentage of Premium Ceded (Excluding Retrocession), 2014-2019
      • Table Tanzanian Non-Life Insurance - Percentage of Premium Ceded (Excluding Retrocession), 2010-2014
      • Table Tanzanian Non-Life Insurance - Percentage of Premium Ceded (Excluding Retrocession), 2014-2019
      • Table Tanzanian Personal Accident and Health Insurance - Percentage of Premium Ceded (Excluding Retrocession), 2010-2014
      • Table Tanzanian Personal Accident and Health Insurance - Percentage of Premium Ceded (Excluding Retrocession), 2014-2019
  • Distribution Channel Outlook
  • Natural Hazards
    • Table Tanzanian Average Annual Loss by Hazard
    • Floods
    • Landslide
    • Droughts
    • Earthquake
    • Exposure
  • Competitive Landscape
    • Overview
      • Table Tanzanian Insurance Industry - Market Share, 2013
      • Table Tanzanian Life Insurance - Segment Share, 2013
      • Table Tanzanian Non-Life Insurance - Segment Share, 2013
      • Table Tanzanian Personal Accident and Health Insurance - Segment Share, 2013
    • Leading Companies
      • The Jubilee Insurance Company of Tanzania Ltd - company overview
        • Table The Jubilee Insurance Company of Tanzania Ltd - Key Facts
      • The Heritage Insurance Company of Tanzania Ltd - company overview
        • Table The Heritage Insurance Company of Tanzania Ltd - Key Facts
      • AAR Insurance (T) Ltd - company overview
        • Table AAR Insurance (T) Ltd - Key Facts
      • Alliance Insurance Corporation Ltd - company overview
        • Table Alliance Insurance Corporation Ltd - Key Facts
      • Sanlam Life Insurance (T) Ltd (African Life) - company overview
        • Table Sanlam Life Insurance (T) Ltd (African Life) - Key Facts
  • Governance, Risk and Compliance
    • Table Tanzania - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Change in Regulation
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table Tanzania - Life Insurance Regulatory Framework
      • Property insurance
        • Table Tanzania - Property Insurance Regulatory Framework
      • Motor insurance
        • Table Tanzania - Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Tanzania - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Motor third-party liability insurance
      • Social insurance system
    • Supervision and Control
      • International Association of Insurance Supervisors (IAIS)
      • African Insurance Organization (AIO)
      • Tanzania Insurance Regulatory Authority
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and penalties
    • Company Registration and Operations
      • Types of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margins
      • Reserve requirements
      • Investment regulations
        • Table Tanzania - Investment Limits for Insurance Companies
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Tanzania - Corporate Tax Rates for the Financial Year 2015
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution (ADR)
  • Appendix
    • Methodology
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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