Tanzania's 15 private insurers reported combined 2025 profits of Sh91 billion, more than doubling from Sh43 billion in 2024 in the strongest sector earnings year on record, while total industry assets rose to Sh1.35 trillion from Sh1.04 trillion.

Sanlam Allianz Life Insurance Tanzania led the life-insurance segment with Sh40.6 billion in profit, accounting for nearly half of combined life earnings. Alliance Insurance Corporation topped the general-insurance segment at Sh14.1 billion. CRDB Insurance Company recorded Sh55.7 billion in gross written premiums and Sh4.39 billion in profit, up 107 percent year-on-year, while Bumaco Insurance grew profit nearly six-fold to Sh4 billion from Sh700 million. Mayfair, Reliance, MUA, Britam, Heritage and ICEA Lion all registered steady performance, with Meticulous and Newtan returning to profitability.

The Tanzania Insurance Regulatory Authority and the Association of Tanzania Insurers attributed the gains to sustained economic activity, stronger enforcement of mandatory insurance covers, rapid expansion of bancassurance, rising public awareness of motor, property and life products, and improved customer education. "The results reflect a maturing and increasingly resilient sect[or]," said ATI chairperson Dr Flora Minja, pointing in particular to mandatory motor insurance and the wider take-up of life and health cover.

Alex Rocky, TIRA's Director for Compliance and Actuarial Services, noted that stronger regulatory oversight had improved compliance with insurance laws and capital requirements, building on a multi-year shift from volume-driven growth to a model anchored on risk pricing and operational efficiency. Sector watchers will read the Sh1.35 trillion asset base as evidence that Tanzania's insurance market is on a structural growth path, even if its profit pool remains highly concentrated among a handful of large players.

The 2025 results give the sector a stronger base for 2026 performance. The next test will be whether the new profit pool can be sustained now that the easy gains from compliance enforcement and bancassurance scale-up have been booked, and whether the long tail of mid-sized insurers can continue to close the gap on the segment leaders.