Britam Holdings plans to open more branches in Tanzania in a bid to increase its market share.
The company, which has launched a new branch in Arusha, is seeking to increase foothold in the Northern part of the country where insurance penetration is still slow and tap new markets.
"In the last five years, the insurance industry in Tanzania has recorded an average of 19 per cent growth. And in the inter-mediation sector, insurance has posted the highest rate of growth higher than the national GDP, with the potential to become one of the largest sectors of our economy," said
CEO Britam Insurance Tanzania
Stephen
Lokonyo.
