Tanzania: State-Owned NIC Struggling for Survival

THE National Insurance Corporation (NIC) Limited is still struggling for survival since the country's financial sector was liberalised and entry of private insurers in the industry.

The Insurance Board said in a recent report that the going for NIC, which monopolised the country's insurance market between 1967 and 1998, was now "rough and tough despite a lot of the government's deliberate efforts to resuscitate the institution."

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