PIC Commends Growth of Tanzania’s Insurance Sector



The Parliamentary Standing Committee on Public Investments (PIC) has commended the growth of Tanzania’s insurance sector, praising the Tanzania Insurance Regulatory Authority (TIRA) for its efforts to expand access to and improve the efficiency of insurance services.

The remarks were made on August 20, 2026, in Dodoma by the Chairperson of PIC, Hon. Masanja Kadogosa, after the Committee received a presentation from the Commissioner of Insurance, Dr. Baghayo Saqware, during a meeting between PIC and TIRA.

Kadogosa attributed the sector’s growth partly to increased public awareness of insurance, which has resulted in a rise in the number of insurance users.

“We commend TIRA. We urge you to continue providing insurance education through innovative methods to reach more Tanzanians,” Kadogosa said.

Meanwhile, PIC member Hon. Twaha Mwakioja directed TIRA to strengthen enforcement of insurance laws and guidelines to ensure that all insurance companies have sufficient capital to guarantee timely compensation to customers in the event of disasters.

Presenting to the Committee, Dr. Saqware said the insurance market has continued to grow rapidly, attributing the progress to Government efforts, particularly through the Ministry of Finance, to create a conducive environment through various laws and guidelines.

He said these measures have enabled TIRA to strengthen supervision of the insurance sector through its offices and ten zones serving all regions of the country.

Dr. Saqware further revealed that insurance claims payments increased by 57% in 2025 compared with 2023, a development that has helped strengthen public confidence in insurance services.

He also highlighted improvements in information and communication technology systems, including TIRAMIS, TIRA-ORS, TSS Portal and IRIS, which have simplified licensing processes and insurance fee payments while enhancing transparency, efficiency and the speed of service delivery.

TIRA: Towards a Safe and Reliable Insurance Market

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