During an Iftar event with the company stakeholders in Dar es Salaam, a representative of Tanzania Insurance Regulatory Authority (TIRA), Saidi Mpombo who was a chief guest, commended the company for the step taken which was preceded by localizing of its shareholding structure.
TIRA representative said he believes the historic event of the company will go hand in hand with improvement of quality of services and expansion.
“I would like to wholeheartedly applaud Assemble for the progress they have made, especially for making 100 percent Tanzanian ownership of the company. This move will encourage Tanzanians to participate in investing in the insurance sector in the country, thus increasing local investors.” added Said.
He said the authority in collaboration with other government agencies will continue effectively playing the regulatory roles to create a favorable environment for local and foreign investors.
Speaking earlier, Managing Director of Assemble Insurance Company Limited, Violet Mordichai said the change is part of the process of restructuring and rebranding the company.
She said, before changing the name the company went through a major transition and managed to localize its shareholding structure to 100 percent local content and became a separate entity.
“AAR was previously known for health insurance, however, now with the new Company name, Assemble Company Limited, we will be providing a variety of non-life insurance services under one roof. The new name itself reflects the collection of services, both for general and medical insurance,” said Mordichai.
The Managing Director also promised that the company will continue to offer unique products to their customers, by providing flexible and competitive insurance solution.
She said for those opting for medical cover, for example, their insurance cover will provide compensation in the event they sustain body injuries caused by violent, accidental, external, or visible means.
The covers, according to Mordichai are available for individuals and families, small and medium enterprises (SMEs) and corporates.
The company has its presence in all major cities of the country including Dar es Salaam, Arusha, Mwanza, Zanzibar, and Dodoma, with more than 50,000 members covered.