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Tanzania: Insurers develop pool to benefit from oil, gas industry

July 8, 2014 - 6:02am

Tanzanian insurers are developing an insurance pool for local insurers to benefit from the oil and gas industry, Amani Boma, head of business development at Real Insurance Ltd., said.

Mr. Boma said low capitalization had kept most local insurers away from joining the sub-sector, reports AllAfrica citing Daily News.

Experts estimate that the nation's annual gross premium, with the booming oil and gas extraction, will peak 2 trillion Tanzanian shillings ($1.2 billion) during the coming five to 10 years.

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