DAR ES SALAAM, Sept. 22 -- THE National Insurance Corporation (NIC) recorded a strong performance in the year ending 2023/24 with revenue rising by 11.0 per cent thanks to diversified investment portfolio.

The Corporation, the largest insurer in the country, earned 130.33bn/- in insurance revenue during the year up from 117.42bn/- posted in the preceding year of 2022/23. This growth drove a 25.98 per cent increase in insurance service results, rising to 35.06bn/- in 2023/24 from 27.83bn/- registered by the corporation in the previous year.

NICs Chairman Mr Justine Mwandu said amid the positive performance, the Corporation is well-positioned to expand its future operations.

“Our diversified investment portfolio and our commitment ...