WHO WE ARE:

Golden 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.

GCA 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.

As 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.

Golden 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 Group)
  • Is an independent regulated entity with the share holding coming mainly from the Dewji family, the promoters of METL.

MISSION

Growth through Service and Customer satisfaction

To become the preferred insurer to all strata of society – From farmer to Industrialist.

DAY TO DAY MANAGEMENT (under the overall supervision and guidance of the Board of Directors):

Mr. 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.

Mrs. Hasina Ahmed – Manager – Finance.
Mrs. Hasina is a CPA and has wide experience in various finance functions including financial controller.

The Underwriting and Claims departments are managed by skilled and experienced staff committed to provide professional and prompt services in all aspects of insurance.

OUR REINSURERS:

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..
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Apart 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.

We have very good capacity in all classes of insurance including Bond business and Construction Project Insurances.



 

 


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