Over 1,000 customers back on their feet as CIC pays Sh5bn in claims
CRDB Bank CEO Abdulmajid Nsekela (right) is presented with a welcome bouquet upon arriving at CRDB Insurance Company offices to review the subsidiary’s performance. Also pictured is CRDB Insurance CEO Wilson Mnzava (third from right) with other company staff. PHOTO | COURTESY
Dar es Salaam. More than 1,000 CRDB Insurance Company (CIC) customers who suffered losses this year have been able to return to normalcy after the insurer paid out over Sh5 billion in compensation, reinforcing its growing role in shielding Tanzanians from the financial shocks of unexpected disasters.
The update was shared recently in Dar es Salaam during an internal meeting between CRDB Bank Group CEO, Abdulmajid Nsekela, and CIC management and staff. The session formed part of Mr Nsekela’s ongoing visits to subsidiaries of CRDB Bank within and outside Tanzania.
Mr Nsekela urged CIC to intensify public education campaigns so that more citizens understand the importance of insurance and can make informed decisions.
“People need accurate information before committing their money. I encourage you to broaden public awareness to attract more customers. Too many Tanzanians lose everything and are forced to start afresh due to limited knowledge about insurance. Reach even the rural communities and explain the services and benefits CIC provides,” he said.
CIC CEO Wilson Mnzava told staff that although the company has grown its customer base, a significant number experienced incidents that resulted in property damage or loss, events that required swift compensation to help them recover.
“As of the end of October, we had registered 43,977 customers who entrusted us with safeguarding their assets. Among them, 833 suffered incidents that caused damage to their property. In total, we have paid Sh5.3 billion to ensure they regain stability. As we move into 2026, we aim to support even more customers and strengthen our contribution to the national economy,” he said.
Mr Mnzava noted that CIC’s performance continues to improve, with the company recording more than Sh2.7 billion in profit after tax this year.
“These results reflect the strong cooperation between management and staff. Our teamwork fosters innovation and commitment in customer service. We are pleased that we continue to meet client expectations, and we welcome more Tanzanians to make use of our insurance services,” he said.
CRDB Bank, now marking its 30th anniversary, operates four subsidiaries—CIC, CRDB Bank Foundation, CRDB Bank Burundi and CRDB Bank DRC—along with a service office in Dubai, all aimed at expanding access to financial and insurance solutions across markets.
Commending CIC for its achievements, Mr Nsekela said the company’s reliability was crucial in protecting households from slipping into poverty after disasters.
“I applaud you for your diligence in ensuring our customers do not suffer economically when they face tragedy. Your efforts strengthen trust in insurance, which is vital when people experience loss or damage. Without coverage, many fall into poverty, but those who are insured are cushioned from the worst effects,” he said.
CIC remains a key subsidiary of the CRDB Bank Group, alongside CRDB Bank Burundi, CRDB DRC and the CRDB Foundation.
