|WHO WE ARE:
Crescent Assurance (GCA) is the first step into the Financial Services sector
by the promoters of METL (Mohammed Enterprises Tanzania Limited) Group of
Companies. METL is a household name in Tanzania, whose products are popular in every
Tanzanian home and which contributes to nearly 3% of GDP of the country.
started Operations on 1st March 2007 and has established itself as a stable and
growing non life insurer in the market with a healthy portfolio mix and notable
presence in the micro insurance segment. GCA has pioneered the foray into
mobile insurance scene with unique micro life and micro health insurance
schemes. We had also ventured in to Agriculture Insurance through weather index
insurance schemes for farmers.
a measure of good Corporate Governance & prudence GCA are not the lead
insurers of the M.E.T.L. Group but are one of the Co-Insurers.
Crescent Assurance Co. Ltd. is an all Tanzanian privately and professionally
managed General Insurance Co. having:
- 100% Tanzanian shareholding and
- All Tanzanian Directors on the
Board of Directors(including outside Directors who are not from the METL
- Is an independent regulated entity
with the share holding coming mainly from the Dewji family, the promoters
through Service and Customer satisfaction
become the preferred insurer to all strata of society – From farmer to
DAY TO DAY MANAGEMENT (under the overall supervision and guidance
of the Board of Directors):
Punnoose Varkey – Chief Executive and Principal Officer
Mr. Punnoose Varkey is a qualified and experienced insurance professional having over 32 years of
experience in both the public and private sector of the general insurance
industry in India and Tanzania.
Hasina Ahmed – Manager – Finance.
Mrs. Hasina is a CPA and has wide experience in various finance functions
including financial controller.
Underwriting and Claims departments are managed by skilled and experienced staff
committed to provide professional and prompt services in all aspects of
15% of our business is ceded to TAN Re by
way of mandatory auto cession of all risks written by us and have treaties with
reputed and A M Best rated securities from abroad such as Africa Re, PTA Re,
East Africa Re, Best Re, Continental Re, Best Re etc..
from this, on a case to case basis where required, we are reinsuring in the
local market with other insurers, with who we are exchanging inward
reinsurances’, as well as the African and international markets.
have very good capacity in all classes of insurance including Bond business and
Construction Project Insurances.