Tanzanian insurance firms upbeat after first quarter business growth
Tanzania, May 15 -- Dar es Salaam. Insurance stakeholders estimate that the industry will grow more in the third and fourth quarters of the new financial year due to various ongoing projects in the country, such as road construction, oil and gas, mining and port expansion.
In the insurance sector's first-quarter report, insurers anticipate the initiation of numerous projects as the new financial year commences.
This anticipation stems from the government's provision of funds, which insurance companies will insure against potential risks.
The newfound optimism comes at a time when the total gross written premiums (GWP) for the insurance industry have increased by 13.68 percent in the first quarter of this year, with small and medium-siz...
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