The Heritage Insurance Company Tanzania Limited, (“Heritage”) is incorporated in Tanzania under the Companies Act, No. 12 of 2002, as a limited liability company. On June 18, 1998, the company was registered under the Insurance Act, No. 18 of 1996, as a general insurance company.
The company is 100% locally owned, with Alliance Insurance Corporation Limited owning 60% and MAC Group Limited owning 40%.
Since 1998, Heritage Insurance has grown to become a private insurance company in Tanzania with net assets exceeding Tshs 18 billion. Heritage has focused on both corporate and retail business, insuring non-life risks, and has a highly qualified technical team to advise on – comprehensive risk management services.
It has an extensive product range, including, but not limited to, Fire, Motor, Marine, Engineering, Aviation, Public Liability, and Directors’ and Officers’ Liability. The company has always maintained a solvency margin above the prudential requirement of 50%, ensuring a strong safety buffer
Heritage partners with a diverse pool of AA(TZ) rated reinsurers to support a range of individual and corporate businesses, regardless of their size or complexity. It is also among the leading insurance companies in Tanzania in terms of premium income and assets, with an AA rating from Global Credit Rating Company reflecting the company’s steadfast financial strength, operational stability, and ability to fulfil its obligations to clients with utmost integrity.
Heritage is committed to good corporate governance and utilises Deloitte, PWC, and Kenbright Actuaries, among others, as its independent company’s auditors and advisors.