Albany, NY -- (SBWIRE) -- 07/24/2014 -- The report provides in-depth industry analysis, information and insights into the insurance industry in Tanzania, including:
The Tanzanian insurance industry’s growth prospects by insurance segments and categories
The competitive landscape in the Tanzanian insurance industry
The current trends and drivers of the Tanzanian insurance industry
Challenges facing the Tanzanian insurance industry
The detailed regulatory framework of the Tanzanian insurance industry
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The Tanzanian insurance industry is in a growth phase, and a large proportion of the population is untapped. The industry registered a review-period (2009–2013) compound annual growth rate (CAGR) of 18.8%. The growth was due to the strong performance of the life segment, which registered a review-period CAGR of 22.2%. The personal accident and health insurance segment registered a review-period CAGR of 18.8%, while the non-life insurance segment registered a CAGR of 18.4%. The industry’s growth was supported by efficiency in the regulatory structure, economic stability, and rising customer awareness of the benefits of insurance.
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 2009–2013 review period and forecast figures for the 2013–2018 forecast period.
It offers a detailed analysis of the key segments and categories in the Tanzanian insurance industry, along with forecasts until 2018.
It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions.
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 industry data related to the Tanzanian insurance industry and each segment within it.
Understand the demand-side dynamics, key trends and growth opportunities within the Tanzanian insurance industry.
Assess the competitive dynamics in the Tanzanian insurance industry.
Identify the growth opportunities and market dynamics within key segments.
Gain insights into key regulations governing the Tanzanian insurance industry and its impact on companies and the industry's future.
The industry was served by 28 insurance companies, including reinsurers, as well as 79 brokers, 260 agents and 39 loss assessors and loss adjusters as of 2012.
Health insurance is booming in Tanzania. Its gross written premium represents 57.7% of the total personal accident and health insurance segment’s share.
Tanzania allows 66% foreign direct investment (FDI) in the insurance industry.
Tanzania is one of the world’s largest producers of gold, which accounts for 3.6% of the country’s tax revenues.
Coffee exports have led to the country’s economic growth and development, supporting overall insurance industry growth, marine and transit insurance in particular.
Tanzania is one of the world’s poorest countries in terms of per capita income, and poverty has been a major obstacle to growth in the Tanzanian economy and insurance industry.
The insurance industry in Tanzania is facing a challenge in terms of shortage of skilled local talent and the increasing cost of acquiring and retaining talented resources.
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