The Tanzanian insurance market grew by 68.4% to TZS2.55tn ($964m) in gross written premiums in 2025, on the back of mandatory health insurance business, according to the "Insurance Market Performance Report 2025", launched by the Tanzania Insurance Regulatory Authority (TIRA).
Health insurance GWP shot up by 426.2% to TZS986.6bn in 2025, pushing the segment’s share of the market to 38.6% from 12.4% in 2024. This increase reflects the inclusion of National Health Insurance Fund (NHIF) contributions.
General insurance remained the largest segment of the overall market, with a share of 44.9%. This branch generated GWP of TZS1.15tn, up by 19.6% year on year. The branch was led by motor with 39.8% of general insurance premiums, fire with 18.8% and travel with 8.7%.
Life insurance GWP increased by 16.1% to TZS358.8 bn in 2025, with a share of 14.1% of the market. Group credit life accounted for 73.8% of life premiums and individual life policies accounted for 15.8%.
Takaful contributions grew by 39.8% to TZS6.5bn, while foreign inward reinsurance business declined by 3.7% to TZS55.9bn.
Speaking at the launch on 16 October, Insurance Commissioner Dr Baghayo Saqware said that between 2024 and 2025, the insurance sector's net capital rose from TZS697.4bn to TZS1.89tn, while investments rose from TZS1.41tn to TZS2.24tn. In addition, the sector's assets increased from TZS2.14tn to TZS4.06tn.
The number of policyholders and beneficiaries has increased from 25.9 m people in 2024 to 26.8 m in 2025, equivalent to an increase of about 3.5 %. Of this total, policyholders numbered 8.7m and beneficiaries reached 18.1m.
Speaking about other indicators of the sector's growth, Dr Saqware said the contribution of insurance to GDP increased from 1.8% to 2.8% in 2025.
He added that TIRA aims to complete the National Insurance Policy, improve the laws and regulations governing the sector, as well as develop the insurance sector in line with the National Development Vision 2050 and the Financial Sector Strategic Development Plan of 2030.