Milembe Insurance Company is recruiting Insurance agenciesfrom all Tanzania regions.
Qualifications;
Principal Officer should hold (a) Secondary EducationCertificate with at least five passes including one in English language and/or(b) Holder of a certificate of proficient in Insurance.
The following are therequirements for an Insurance Agency (NON-LIFE) as laid down by theCommissioners office Insurance Supervisory Department:
i) You would need to register a company which name shouldinclude the words Insurance Agency. In case the applicant is a Bank orFinancial Institution, this provision (of inclusion of the words mentionedaforesaid) may be waived.ii) Deposit :Tshs. 1,210,000 as Fixed Deposit (in your Agencys name) in any Bank and the copyof the Deposit certificate is to be deposited at the office of the Commissionerof Insurance. In case you wish to doLife insurance as well, deposit would need to be Tshs. 2 million.iii) Annual Fees :Tshs. 75,000 per annumiv) Registration : Tshs. 500,000 (one-time payment)v) Professional Indemnity Cover : for Tshs. 6.25 million :Approx insurance premium for securing the Cover is Tshs. 130,000vi) Application Form duly filled in with supportingdocuments as requested in the application. Application form has to be securedat the office of the Insurance Supervisory Department located at Mtendeni.
Important points to note :
i) An agent can serve only ONE insurer in the first 3years of his operation.ii) From Year 4, can choose to serve up to a maximum of 3insurers.iii) An insurance agent may not be able to place allrisks since his Principal might have some restrictions on the type of risksthat he might accept. As an offlinesuggestion, we could offer to place such risks with other insurers in themarket, in the event that you choose us as the Principal.iv) No credit is allowed to an insurance agent by hisPrincipal. In other words, all business would need to be on cash terms.
We also list below the commission rates (as per statutory regulations) which you couldearn as licensed agents of Milembe Insurance Co. Ltd.
COMMISSION RATES :
[TABLE="class: MsoNormalTable"]
[TR]
[TD="width: 295, bgcolor: transparent"] Fire, Allied and Natural Perils
[/TD]
[TD="width: 295, bgcolor: transparent"] 25% of the insurance premium
[/TD]
[/TR]
[TR]
[TD="width: 295, bgcolor: transparent"] Personal Accident & Miscellaneous
[/TD]
[TD="width: 295, bgcolor: transparent"] 15% of the insurance premium
[/TD]
[/TR]
[TR]
[TD="width: 295, bgcolor: transparent"] Bonds
[/TD]
[TD="width: 295, bgcolor: transparent"] 15% of insurance premium
[/TD]
[/TR]
[TR]
[TD="width: 295, bgcolor: transparent"] Marine
[/TD]
[TD="width: 295, bgcolor: transparent"] 15% of the insurance premium
[/TD]
[/TR]
[TR]
[TD="width: 295, bgcolor: transparent"] Motor
[/TD]
[TD="width: 295, bgcolor: transparent"] 12.5% of the insurance premium
[/TD]
[/TR]
[/TABLE]
Application Instructions:
APPLICATION LETTERS SHOULD BE POSTED TO THE FOLLOWING
Director of Operations
Milembe Insurance Company LTD
Raha Towers, 2nd Floor
Bibi Titi Mohammed/Maktaba Street
P. O. Box 14548
Dar es Salaam, Tanzania
Tel: +255 22 2137699, +25522 2122782
Fax: +255 22 2137698
Mob: +255 754490948
E-Mail: amon.kitaa@milembeinsurance.com
Web: www.milembeinsurance.com
Qualifications;
Principal Officer should hold (a) Secondary EducationCertificate with at least five passes including one in English language and/or(b) Holder of a certificate of proficient in Insurance.
The following are therequirements for an Insurance Agency (NON-LIFE) as laid down by theCommissioners office Insurance Supervisory Department:
i) You would need to register a company which name shouldinclude the words Insurance Agency. In case the applicant is a Bank orFinancial Institution, this provision (of inclusion of the words mentionedaforesaid) may be waived.ii) Deposit :Tshs. 1,210,000 as Fixed Deposit (in your Agencys name) in any Bank and the copyof the Deposit certificate is to be deposited at the office of the Commissionerof Insurance. In case you wish to doLife insurance as well, deposit would need to be Tshs. 2 million.iii) Annual Fees :Tshs. 75,000 per annumiv) Registration : Tshs. 500,000 (one-time payment)v) Professional Indemnity Cover : for Tshs. 6.25 million :Approx insurance premium for securing the Cover is Tshs. 130,000vi) Application Form duly filled in with supportingdocuments as requested in the application. Application form has to be securedat the office of the Insurance Supervisory Department located at Mtendeni.
Important points to note :
i) An agent can serve only ONE insurer in the first 3years of his operation.ii) From Year 4, can choose to serve up to a maximum of 3insurers.iii) An insurance agent may not be able to place allrisks since his Principal might have some restrictions on the type of risksthat he might accept. As an offlinesuggestion, we could offer to place such risks with other insurers in themarket, in the event that you choose us as the Principal.iv) No credit is allowed to an insurance agent by hisPrincipal. In other words, all business would need to be on cash terms.
We also list below the commission rates (as per statutory regulations) which you couldearn as licensed agents of Milembe Insurance Co. Ltd.
COMMISSION RATES :
[TABLE="class: MsoNormalTable"]
[TR]
[TD="width: 295, bgcolor: transparent"] Fire, Allied and Natural Perils
[/TD]
[TD="width: 295, bgcolor: transparent"] 25% of the insurance premium
[/TD]
[/TR]
[TR]
[TD="width: 295, bgcolor: transparent"] Personal Accident & Miscellaneous
[/TD]
[TD="width: 295, bgcolor: transparent"] 15% of the insurance premium
[/TD]
[/TR]
[TR]
[TD="width: 295, bgcolor: transparent"] Bonds
[/TD]
[TD="width: 295, bgcolor: transparent"] 15% of insurance premium
[/TD]
[/TR]
[TR]
[TD="width: 295, bgcolor: transparent"] Marine
[/TD]
[TD="width: 295, bgcolor: transparent"] 15% of the insurance premium
[/TD]
[/TR]
[TR]
[TD="width: 295, bgcolor: transparent"] Motor
[/TD]
[TD="width: 295, bgcolor: transparent"] 12.5% of the insurance premium
[/TD]
[/TR]
[/TABLE]
Application Instructions:
APPLICATION LETTERS SHOULD BE POSTED TO THE FOLLOWING
Director of Operations
Milembe Insurance Company LTD
Raha Towers, 2nd Floor
Bibi Titi Mohammed/Maktaba Street
P. O. Box 14548
Dar es Salaam, Tanzania
Tel: +255 22 2137699, +25522 2122782
Fax: +255 22 2137698
Mob: +255 754490948
E-Mail: amon.kitaa@milembeinsurance.com
Web: www.milembeinsurance.com
