Top 10 Best Insurance Companies in Tanzania

Top 10 Best Insurance Companies in Tanzania;- As contract of  two part, insurer agree to cover insured against those loss as agreed in contract. One of the reasons Tanzanians get insurance is to safeguard themselves as well as their assets from unexpected events. These events can eat up a big portion of their budget, something they would want to avoid. As a result, insurance is required.

Insurance shields people’s and businesses’ possessions and assets from potential risks that could result in total loss.
Top health insurance providers in Tanzania can help individuals who desire to safeguard their future from such disaster.

However, you need to be aware of what you’re looking for, how insurance agencies work, and how to pick the finest one. When choosing an insurance provider, there are few things to take into account in order to achieve this.

Considerations Before Choosing an Insurer (who to cover against lose)

factors to consider are as follows below,

1. The company’s reputation

On the internet, you should search for reviews and breaking news about the company. 
This is because the company’s past performance ought to provide you an idea of its strengths and capabilities.

2. Legal Acceptance

The Tanzania Insurance Regulatory Authority (TIRA) must legally license and certify the insurance company you select.

3. The Coverage 

When selecting an insurance company, this is crucial factor. Select the level of coverage that most closely matches your needs. 
For instance, it’s red flag to shift your firm elsewhere if the insurance provider doesn’t cover particular circumstances, like business concepts.

4. Financial Stability and the Price Factor

It’s important to understand how the insurance industry functions in down economy and how this might affect you. To locate the information you need, check at stock ratings and business resources. 
You might wish to take pricing into account while looking for and eventually choosing an insurance provider. In other words, buy it if the price is fair. If it’s not, look somewhere else.

Top 10 Best Insurance Companies in Tanzania 2022 (Private).

1. Jubilee Insurance Company Ltd

Jubilee Insurance Company of Tanzania is one of the leading insurance firms in the nation, with a primary concentration on general insurance and special risks, life assurance and annuities, health insurance, asset management, and pension management.

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They provide the following insurance policies:

  • Plan for Investing Income
  • Three payment plans are available.
  • Travel protection insurance
  • corporate savings strategy
  • Education investment strategy
  • Endowment strategy that is adaptable
  • Term insurance policy
  • Policy for electronic equipment

 2. Mayfair Insurance Co. Tanzania Ltd

Mayfair Insurance is the private sector leader of the . The Company provides non-life insurance solutions to its clients across the the country. Mayfair Insurance inspires complete trust, assuring customers that it has their best interest at heart.

In an industry where security is key, their product offerings and claims processes are fully transparent.

Overall, Mayfair Insurance provides customers with a sense of empowerment that comes with financial independence through a wide range of well-priced products and a seamless user experience.

They offer the following policies:

  • Business Insurance plan
  • Insurance plan
  • Auto Insurance plan
  • Home Insurance plan

3. Jubilee Life Insurance

Jubilee Life Insurance offers a wide array of comprehensive healthcare plans to cater to the healthcare needs of individuals and families.

Jubilee Life Insurance is considered as a trusted insurance company and wellness partner in the industry and works intending to secure the financial and medical future of its customers.

Jubilee Life Insurance

Individual health insurance from Jubilee Life covers medical expenditures incurred abroad, medical evacuation and repatriation costs in the event of illness or accident.

Sick leave costs Emergency return home after a family member’s death. They also provide life insurance with burial benefits. Still serving corporate policyholders, they address staff health concerns.

4. Sanlam General Insurance

One of the best providers of general insurance, Sanlam General Insurance, is well-known to have achieved remarkable developments by launching some great insurance products not only for the corporate but also for the rural customers.

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It offers a wide range of health insurance products, which can easily match the requirements of most of the people.

The company has a network of more than 13 branches spread across 26  Tanzanian regions and caters to the needs and requirements of its policyholders through 24*7 customer support services.

The company offers customized insurance products to the SMEs and rural customers in Tanzania

5. Sanlam Life Insurance (T) Limited

Sanlam Life Insurance offers a wide range of life insurance and specialty products to cater to the needs of every individual. The company operates a pan Tanzania network with more than 13 branch offices.

Sanlam Life Insurance has maintained a good reputation in the market due to its hassle-free claim settlement process.

Sanlam Life Insurance (T) Limited

Sanlam Tanzania provides financial protection to people, families, and organizations. Personal Life Insurance products that provide you peace of mind that your family will be taken care of if you die.

So your death would not burden your loved ones financially. The funeral cover ensures that your loved ones have a dignified funeral without stress. Travel insurance protects you and your loved ones when traveling. Disability and critical illness plans are also available.

6. Zanzibar Insurance Corporation

Being a Government-owned with its headquarter in Zanzibar. The Zanzibar Insurance Corporation is dependable and has won many awards in the industry. As it is connected to the government, it provides the feeling of peace.

Zanzibar Insurance Corporation operates via a large network of more than 30 branches located across Tanzania.

Zanzibar Insurance Corporation
Zanzibar Insurance Corporation

At present, Zanzibar Insurance Corporation provides coverage against travel, health, motor, personal accident, and home insurance for individuals and group personal accidents, group health, marine package, construction & engineering for businesses.

7. Britam Insurance Tanzania Ltd.

Britam Insurance Tanzania is one of the most respected insurance companies in Tanzania. The company offers various insurance services in the personal and corporate insurance sector.

Britam Insurance Tanzania Ltd.

The ranger of products includes – health insurance, accidental personal, cattle, domestic property, marine, motor, workers compensation etc.

8. Alliance Life Assurance Limited.

This insurance company offers a comprehensive range of healthcare products that allows the customers to choose the best one as per their needs.

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It has several branches across the country and has employed an army of agents to serve its customers.

Alliance Life Assurance Limited.

Alliance Insurance Corporation Limited offers a diversity of insurance services including but not limited to Fire, Marine, Motor, and Engineering.

They provide an all-inclusive policy covering many of area of concern making choices easier for business entities

9. Bumaco Insurance Company Ltd

Bumaco Insurance is one of the leading insurance brands in the country. Bumaco Insurance has its presence in more than 20 regions across Tanzania.

Bumaco Insurance Company Ltd

Through its online medium, the insurer has expanded its reach in more than 20+ locations. Bumaco Insurance offers insurance products to its retail customers, corporates, and SMEs.

10. Milembe Insurance

Milembe Insurance offers a number of general insurance products like health, motor, and commercial insurance. It is a renowned name in the general insurance industry.

Milembe avails consumers with individualized insurance packets to handle various extensive risks and opportunities.

Milembe Insurance

Their private and corporate offering includes; Burglary, Domestic Package, Equipment, Fire, Fire & Allied Perils, Machinery, Breakdown, Motor, Personal Accident, Plate Glass, Travel, and corporate offering:

All Risks, Burglary, Business Interruption, Fidelity Guarantee, Fire, Fire & Allied Perils, Goods in Transit, Liability, Breakdown, Marine, Money, Motor, Personal Accident etc.


Tanzania is home to a number of general insurance companies that cater to the needs of their customers by providing a range of general insurance products. How could someone choose, though, the Best General Insurance Company:

  • The ability and reliability of the general insurance company you choose to keep your pledges and promises should come first.
  • The general insurance company must be solvent and financially secure.
  • The premiums charged by these companies must be fair.
  • Before choosing a provider, it is important to look into their claim resolution process and turnaround time.
  • Excellent customer service and a high claim settlement percentage should be provided by the company.
  • Your needs should be met by the company’s offering of insurance.

You will feel confident enough to select the ideal general insurance provider after looking through the aforementioned elements and weighing the numerous offers made available by various companies.