| Life premium volume (USD) | 22 mn |
|---|---|
| Non-life premium volume (USD) | 181 mn |
| Total premium volume | 204 mn |
| Total premium volume (TZS) | 287 bn |
| Insurance penetration: Premiums in % of GDP | 0.66% |
| Insurance density: Premium / capita USD | 4.75 |
| Local currency | TZS |
| Domestic life insurers | 2 |
|---|---|
| Domestic non-life insurers | 7 |
| Domestic composite insurers | 1 |
| Foreign life insurers | |
| Foreign non-life insurers | |
| Foreign composite insurers | 17 |
| Domestic reinsurers | 1 |
| Foreign reinsurers | |
| State-owned insurers | |
| State-owned reinsurers | |
| Insurance intermediaries | |
| Reinsurance intermediaries |
| Overarching principle in insurance supervision | Financial supervision |
|---|---|
| Requirement for minimum insurance rates | No |
| Cross-border insurance allowed | Yes |
| Bancassurance is allowed | No |
|---|---|
| Allowed ownership structures | Stock Companies |
| Foreign ownership restrictions | Yes |
| Minimum capital requirement | TZS 1.5bn (Insurnace Companies) - TSZ 5bn (Reinsurance Companies) |
| Minimum paid-up share capital | TZS 1.5bn (Insurnace Companies) - TSZ 5bn (Reinsurance Companies) |
| Requirement for independent audits | Yes |
| Requirement to appoint actuaries | No |
| Premium rate approval needed | No |
| Solvency referred to as the difference between assets and liabilities | Yes |
|---|---|
| RBC (Risk-based capital) principles applied | No |
| Ceded reinsurance is regarded as a permissible asset | Yes |
| Compulsory insurance lines | |
| Compulsory reinsurance cessions | Yes |
| Established guarantee or policyholder protection fund | No |
|---|
