ICEA Lion General Insurance Company marked a significant milestone with its 25th-anniversary celebration. During the commemoration, led by Prof Kitila Mkumbo, the Minister of State in the President's Office for Investment and Planning, assurances were extended to bolster investment in the industry.
Prof Mkumbo underscored Tanzania's strategic position, with a population exceeding 60 million and connectivity to neighboring countries across East, Central, and Southern Africa, presenting an attractive internal market. He emphasized the conducive business environment fostered by the government, ensuring peace and stability vital for sustained business growth.
"Given the conducive business environment, I foresee continued commitment from insurance firms to invest in Tanzania," remarked Prof Mkumbo, offering government support to facilitate seamless business operations and deliver high-quality insurance services nationwide.
Encouraging ongoing investment, Prof Mkumbo reiterated the government's dedication to implementing legal and investment reforms aimed at promoting long-term business sustainability.
Tanzania's pivotal role as a gateway to countries like the DR Congo, Burundi, Uganda, Kenya, and Rwanda through the port of Dar es Salaam further enhances its appeal for investment opportunities.
In attendance were government officials, industry stakeholders, and representatives from various insurance firms, brokers, and agents. Dr Baghayo Saqware, Commissioner for Insurance at the Tanzania Insurance Regulatory Authority (TIRA), urged insurance investors to explore untapped sectors, particularly agriculture, which holds significant potential for expansion.
Mr Jared Awando, CEO of ICEA Lion General Insurance, reiterated the company's commitment to Tanzania, highlighting its service to over 80 brokers and 25 agents. He emphasized ICEA Lion's expansion across multiple regions, including Arusha, Mwanza, Mbeya, Morogoro, Dar es Salaam, Dodoma, and its recent venture into Zanzibar to explore opportunities in the blue economy.
Ilala District Commissioner, Mr Edward Mpogolo, expressed the government's readiness to collaborate with ICEA Lion and other insurance providers to enhance public awareness and knowledge on property protection.