Financial Highlights 2010
TAN-RE Posts a a pre-tax profit of 6.3 billion shillings for year 2010
TAN-RE continued with its strong and profitable performance during the period under review. Gross written premium income increased by 16.3% to TZS 42.7 billion (2009: TZS 36.7 billion), while net retained premium increased by 21.7% to TZS 38.2 billion (2009: TZS 31.4 billion).
In 2010, the company recorded a superior underwriting profit of TZS 4.9 billion (2009: TZS 3.6 billion).
On the other hand profit before tax rose to TZS 6.3 billion in 2010 (2009: TZS 4.5 billion. Ultimately the company realized a profit after tax of TZS 3.6 billion, up from TZS 3.2 billion in the previous year. This represents an increase of 13.4%. (N.B.: The rate of exchange of the Tanzania Shilling as at 31st December 2010 was TZS 1,438 to 1 USD).