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Star General Insurance (Tanzania) Limited

Star General Insurance (Tanzania) Limited is a dynamic short term insurance company which became operational in the Tanzanian market in December 2009. The company’s majority shareholder is General Alliance Insurance Limited, a Malawian short term insurance company. General Alliance has been a front runner in revolutionising the insurance industry in Malawi. General Alliance was formed 13 years ago and is now one of the leading insurers in Malawi. General Alliance entered the market and brought down the premium rates thus benefiting the insuring public.
The principles of integrity, service excellence, financial stability and sound underwriting are championed by Star General. We firmly believe that these core factors will ensure that we become the ‘Insurer of Choice’ in the Tanzanian market.


Our Belief 
In an ever evolving corporate climate there is an unfortunate trend where companies forget who their clients are. At Star General we have an ‘open doors policy’; we do not believe that clients should be inconvenienced in contacting us- we are aware that we rely on your good will for our success. Star General does not suffer from myriads of bureaucracy or chains of management; our offices are easily accessible and our staff will be on hand to deal with all queries.

The success of our subsidiary has been based on having excellent relationships with our intermediaries and direct clients. 
There are a number of corporate bodies whose underlying motive is only profit; we are keenly aware that our reputation is what counts. At Star General we refuse to sacrifice the quality of our service at the expense of our clients. Each client dealing with Star General will be afforded a high level of service and unparalleled advice.

Choosing Star General Insurance Tanzania Limited
The Tanzanian Insurance market is very competitive with a number of established companies. When it comes to choosing a company the client must be satisfied beyond any doubt that the insurer can provide a first rate service. Apart from competitive premiums there are number of other considerations one must take into account.

As Star General in new in the market one must look at the performance of its majority shareholder, General Alliance Insurance Limited. General Alliance has been given an A+ Rating by the Global Credit Rating Co. (S.A) for 2007 and 2008. In Malawi General Alliance’s International Solvency Ratio has been 163% and 150% for 2007 and 2008 respectively. The company also had the highest cash coverage in the Malawian insurance market. To put the figures in perspective when General Alliance’s International Solvency Ratio was 150%, the next insurer had a Ratio of 80%. General Alliance also has the largest underwriting capacity in the Malawian market.

The figures categorically show that General Alliance benefits from an extremely solid financial platform. This security will automatically be translated to Star General and our customers will be assured that the company will be able to satisfy claims.

Star General benefits from a Board of Directors and Management that are motivated, ambitious and driven to succeed. This desire to succeed will be apparent to all intermediaries and clients and will be reflected in our performance.

Star General benefits from having a management team that has experience in the Tanzanian, Malawian, Ugandan and Indian insurance markets. This wealth of knowledge and expertise is beneficial to the company, intermediaries and clients.

Reinsurance
Our reinsurers are Africa Re. Africa Re are highly regarded within the insurance market having been established since 1976. They currently have ratings of A- from both Standard and Poor’s and A.M. Best. 

Insurance solutions- Traditional and Innovative 
The insurance industry often has to react to new and complex challenges in a short period of time. We pride ourselves in being able to create innovative and tailor made solutions which are not often offered by other companies. The Tanzanian economy is continually evolving and we intend to be at the forefront when it comes to providing short term insurance solutions to match the requirements of the market.

At General Alliance we offered new products to the market such as fish, cattle and poultry insurance. These we received very favourably in the market and demonstrated our ability to nurture non traditional insurance solutions.

As a company, Star General believes in using specialist service providers. We will appoint qualified motor engineers who are able to deal with claims efficiently and thoroughly. For certain risks we strongly suggest that we carry out risk management and aim to provide our clients with sound advice before underwriting.

Social Welfare
As a company we take social welfare very seriously. We realise that it is our responsibility to provide a helping hand when we can.
Our principal, in Malawi, has recently built a clinic for ante and post natal care in an underprivileged area. We also assist a number of other charities through sponsorship or donations. We will emulate this in Tanzania.

VISION
We will be among the major players in the non-life insurance industry, distinguished by our closeness to the market and our service excellence

MISSION
Our purpose is to enable individuals and businesses to manage financial risk. We provide insurance products and services tailored to meet the specific and ever-changing financial risk exposures facing our customers. We build value for our investors through the strength of our customers' satisfaction and by consistently producing superior operating results.

We will provide the insuring public protection for their assets against the risks of everyday life because their peace of mind and security is our primary concern 

We maximize the value of our enterprise for all our stakeholders

VALUES 
In pursuing our vision and living our mission, we shall conduct business guided by our core values of:

Integrity - honouring our commitments and being honest and fair in all our dealings

Service Excellence - going beyond our customers' highest service expectations by developing strong personal relationships with them and providing value-added products and services through empowered and highly motivated employees

Financial Stability - optimizing the use of our resources to sustain our financial strength and to assure our stakeholders of our long-term stability and continued profitable growth.

 

Get in touch


7th Floor, Harbour View Towers Samora Avenue, PO Box 71956, Dar es Salam Tanzania

Click here for Location Map & Contact information

Get In Touch

Alliance House Corner Sharpe Road/ Independence Drive
Blantyre, Malawi
 +265 1 822 100/111
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