Photo: Rasheedhrasheed, Wikimedia Commons, CC BY-SA 4.0Largest insurers compared in Tanzania
Largest insurance companies in Tanzania (2024), compared
Short answerChecked 23 September 2026
In 2024, Alliance Insurance Corporation wrote the most general insurance premium in Tanzania (TZS 131,154 million, a 11.5% (calculated) market share). In life insurance, Sanlam (Allianz) Life Insurance Tanzania led with TZS 202,569 million. Size is not quality: look at the claims ratio and the complaints too, and compare policies before you choose.
General insurers ranked by premium (2024)
| # | Insurer | Premium (TZS million) | Market share | Change vs 2023 (calculated) | Profit after tax |
|---|---|---|---|---|---|
| 1 | Alliance Insurance Corporation | 131,154 | 11.5% (calculated) | 18.9% | 11,594 |
| 2 | Strategis Insurance Tanzania | 127,046 | 11.1% (calculated) | 16.3% | 9,017 |
| 3 | National Insurance Corporation of Tanzania | 120,663 | 10.5% (calculated) | 21.9% | 28,883 |
| 4 | Jubilee Allianz General Insurance | 84,311 | 7.4% (calculated) | 0.4% | 2,131 |
| 5 | The Heritage Insurance Tanzania | 70,698 | 6.2% (calculated) | 13.3% | 764 |
| 6 | Zanzibar Insurance Corporation | 59,097 | 5.2% (calculated) | 53.1% | 1,548 |
| 7 | Reliance Insurance Company Tanzania | 50,677 | 4.4% (calculated) | 13.2% | 2,548 |
| 8 | MUA Insurance (Tanzania) | 49,021 | 4.3% (calculated) | 19.3% | 2,835 |
| 9 | Mayfair Insurance Company | 47,610 | 4.2% (calculated) | 11.2% | 1,883 |
| 10 | Assemble Insurance Tanzania | 42,636 | 3.7% (calculated) | 13.2% | -6,818 |
| 11 | Sanlam (Allianz) General Insurance Tanzania | 42,180 | 3.7% (calculated) | 9.0% | -1,047 |
| 12 | Jubilee Health Insurance | 41,366 | 3.6% (calculated) | 28.5% | -3,530 |
| 13 | Britam Insurance Tanzania | 38,249 | 3.3% (calculated) | 0.6% | 1,083 |
| 14 | MO Assurance Company | 32,745 | 2.9% (calculated) | 11.5% | 3,362 |
| 15 | ICEA LION General Insurance | 31,256 | 2.7% (calculated) | 20.5% | 1,952 |
| 16 | CRDB Insurance Company | 26,899 | 2.3% (calculated) | 1361.9% | 343 |
| 17 | Meticulous General Insurance | 25,953 | 2.3% (calculated) | -9.0% | -2,218 |
| 18 | Tanzindia Assurance Company | 21,152 | 1.8% (calculated) | 9.8% | 1,004 |
| 19 | Newtan Insurance | 20,595 | 1.8% (calculated) | 9.9% | -3,476 |
| 20 | Bumaco Insurance Company | 19,288 | 1.7% (calculated) | 8.1% | 780 |
| 21 | First Assurance Company | 17,020 | 1.5% (calculated) | 13.2% | 1,297 |
| 22 | GA Insurance Tanzania | 14,276 | 1.2% (calculated) | 16.5% | 216 |
| 23 | Maxinsure (Tanzania) | 9,442 | 0.8% (calculated) | -7.8% | 216 |
| 24 | Milembe Insurance Company | 7,931 | 0.7% (calculated) | 14.2% | 2,888 |
| 25 | Resolution Insurance | 6,882 | 0.6% (calculated) | 738.2% | -837 |
| 26 | MGen Tanzania Insurance | 6,434 | 0.6% (calculated) | 0.0% | — |
| 27 | Beema Star Insurance | 81 | 0.0% (calculated) | 138.2% | -335 |
Source: TIRA — Annual Insurance Market Performance Report 2024 (Appendices 3A, 3B, 8A, 10; Table 6.2; Chart 3.17).
Largest motor insurers in Tanzania
| # | Insurer | Motor premium (TZS million) | Share of motor (calculated) |
|---|---|---|---|
| 1 | Alliance Insurance Corporation | 70,355 | 18.5% |
| 2 | Jubilee Allianz General Insurance | 35,546 | 9.4% |
| 3 | Reliance Insurance Company Tanzania | 28,598 | 7.5% |
| 4 | National Insurance Corporation of Tanzania | 21,603 | 5.7% |
| 5 | Sanlam (Allianz) General Insurance Tanzania | 19,462 | 5.1% |
| 6 | Mayfair Insurance Company | 19,387 | 5.1% |
| 7 | Bumaco Insurance Company | 16,843 | 4.4% |
| 8 | Strategis Insurance Tanzania | 16,098 | 4.2% |
| 9 | Britam Insurance Tanzania | 14,530 | 3.8% |
| 10 | Meticulous General Insurance | 14,063 | 3.7% |
| 11 | CRDB Insurance Company | 13,703 | 3.6% |
| 12 | ICEA LION General Insurance | 13,417 | 3.5% |
Largest medical insurers in Tanzania
| # | Insurer | Medical premium (TZS million) | Share of medical (calculated) |
|---|---|---|---|
| 1 | Strategis Insurance Tanzania | 98,519 | 52.5% |
| 2 | Jubilee Health Insurance | 41,366 | 22.1% |
| 3 | Assemble Insurance Tanzania | 38,968 | 20.8% |
| 4 | Alliance Insurance Corporation | 2,042 | 1.1% |
| 5 | The Heritage Insurance Tanzania | 2,042 | 1.1% |
| 6 | GA Insurance Tanzania | 1,761 | 0.9% |
| 7 | MO Assurance Company | 1,231 | 0.7% |
| 8 | Britam Insurance Tanzania | 790 | 0.4% |
| 9 | Resolution Insurance | 520 | 0.3% |
| 10 | Maxinsure (Tanzania) | 239 | 0.1% |
Life insurers ranked by premium (2024)
| # | Insurer | Premium (TZS million) | Market share | Claims paid (TZS million) | Claims / loss ratio (as printed) |
|---|---|---|---|---|---|
| 1 | Sanlam (Allianz) Life Insurance Tanzania | 202,569 | 65.6% (calculated) | 36,461 | 86.6% |
| 2 | The Jubilee Life Corporation of Tanzania | 37,149 | 12.0% (calculated) | 8,463 | 81.4% |
| 3 | Alliance Life Assurance | 35,726 | 11.6% (calculated) | 14,145 | 78.0% |
| 4 | Metro Tanzania Life Assurance | 18,010 | 5.8% (calculated) | 6,029 | 90.3% |
| 5 | NIC Life (National Insurance Corporation) | 14,780 | 4.8% (calculated) | 8,768 | 99.2% |
| 6 | Bumaco Life Insurance | 759 | 0.2% (calculated) | 287 | 100.0% |
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Frequently asked questions
What is the biggest insurance company in Tanzania?
By general insurance premium in 2024: Alliance Insurance Corporation, with TZS 131,154 million. In life insurance: Sanlam (Allianz) Life Insurance Tanzania.
Which insurer sells the most motor insurance in Tanzania?
Alliance Insurance Corporation, with TZS 70,355 million of motor premium in 2024.
Which is the biggest medical insurer in Tanzania?
Strategis Insurance Tanzania, with TZS 98,519 million of medical premium in 2024.