What Metro Life Assurance does

Metro Life Assurance is a private life insurance company headquartered in Dar es Salaam, Tanzania, operating exclusively in the Tanzanian market. The company was rebranded from Metropolitan Life Tanzania to Metro Life in 2021 and traces its institutional heritage to Metropolitan International, which has operated in African financial services for over a century. Metro Life focuses exclusively on group risk insurance products, serving employers, financial institutions, associations/unions, Tanzanian diaspora, and individual parents/guardians.

The company's product portfolio comprises six core offerings: Group Life Assurance (employer-sponsored coverage with maximum benefits of 10x annual salary or TZS 7 billion), Group Credit Life Insurance (loan protection for secured, unsecured, mortgage, microfinance, and SME loans), Group Funeral Insurance (family funeral expense coverage), Education Life Assurance branded AdaBima (pays school fees for children of deceased parents/guardians, with a No Claim Bonus feature), Embedded Life Schemes branded Bima za Vikundi (insurance integrated into partner bank accounts), and Diaspora Repatriation Cover (up to TZS 50,000,000 per member for Tanzanians abroad via NMB Bank partnership). The underlying technology is described as an insurance technology platform supporting group risk administration, with claims processing operationalized at a 48-hour settlement standard for credit life and funeral products.

Metro Life generates revenue through recurring subscription-based premiums across all six product lines, with pricing conducted on a quote basis rather than through published rates. Its go-to-market blends enterprise field sales to employers and credit providers with channel partnerships, most notably the NMB Bank partnership that anchors diaspora and embedded life distribution. Premiums for employer schemes are typically compulsory and funded by the employer; embedded schemes can be incorporated into partner bank account fees. The company operates with a lean team of approximately 13 employees, suggesting a high-leverage, partnership-driven distribution model rather than direct mass-market sales.

Name

Metro Life Assurance

Legal name

Metro Life Assurance

Website

https://metrolifeassurance.co.tz

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

Metro Life Assurance is a Tanzanian private life insurer offering six group risk products — group life, credit life, funeral, education, embedded, and diaspora cover — distributed primarily through employer schemes and bank partnerships, most notably NMB Bank.

Ownership category

akta.pro rank

Product category

Group Life Insurance

NAICS

Direct Life Insurance Carriers (524113)

SIC

Life Insurance (6311)

akta.pro primary industry

Basic Group Term Life (Employer-Paid) (FSAIADAA)

akta.pro secondary industry

Group Term Life Insurance (FSAIAAAJ)

Keywords

• Group life insurance
• Credit life insurance
• Funeral insurance
• Embedded insurance schemes
• Education life assurance

Headquarters

HQ city

Dar es Salaam

HQ country

Tanzania

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Group Life Assurance Premiums: Recurring premium payments from employer-sponsored group life insurance schemes. Employers fund premiums on behalf of employees, with coverage for death and disability benefits. Premium rates are calculated based on group risk profiles.
2. Group Credit Life Insurance: Premiums collected from financial institutions and credit providers to cover outstanding loan balances in case of borrower death or disability. Provides protection against non-performing loans.
3. Group Funeral Insurance: Premium revenue from both compulsory employer-funded schemes and voluntary association or union group funeral schemes. Lump sum benefits paid to families for funeral expenses.
4. Embedded Life Schemes: Premium revenue through partner financial institutions. Premiums can be incorporated into monthly account fees or covered by banks as part of their customer value proposition.
5. Diaspora Repatriation Cover: Specialized insurance product for Tanzanians abroad with NMB diaspora accounts. Premiums adjusted semi-annually based on claims and demographics. Coverage for repatriation and funeral costs.
6. AdaBima Education Life Assurance: Education insurance premiums with potential No Claim Bonus feature returning a portion of premiums if no claims are filed during the schooling period.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels4 records

Core offering

Metro Life Assurance provides a portfolio of group life insurance products in Tanzania, including Group Life Assurance for employee death and disability coverage, Group Credit Life Insurance for loan protection, Group Funeral Insurance, Education Life Assurance (AdaBima), Embedded Life Schemes (Bima za Vikundi) integrated with bank accounts, and Diaspora Repatriation Cover for Tanzanians abroad. The company distributes these products primarily through employer-sponsored schemes, financial institution partnerships such as NMB Bank, and direct quote requests via its website.

Product overview

Metro Life Assurance offers a unified portfolio of life insurance products designed to protect individuals, families, and groups from financial hardship due to death, disability, or life-changing events. The product suite includes: Group Life Assurance for employee protection, Group Credit Life Insurance for debt settlement, Group Funeral Insurance for funeral cost coverage, Education Life Assurance (AdaBima) for securing children's education, Embedded Life Schemes (Bima za Vikundi) integrated with bank accounts, and Diaspora Repatriation Cover for Tanzanians abroad. The company formerly operated as Metropolitan Life Tanzania before rebranding in 2021.

Differentiator

Problem solved

Functional benefit

Brands

• ADABIMA (Education Life Assurance): Education Life Assurance Plan that ensures a child's educational journey remains undisturbed by paying school fees if parents/guardians pass away. Includes a No Claim Bonus feature.
• Bima za Vikundi (Embedded Life Schemes)
• Diaspora Group Cover

Products and services

• Group Life Assurance Group Life Assurance provides protection to a group of persons (typically employees) for life-changing events such as death or disability. Benefits are paid as lump sum payments to beneficiaries, with maximum benefit up to 10x annual salary or TZS 7 billion, and cover continues up to age 70. Optional benefits include Education Benefit, Critical Illness Benefit, Permanent & Total Disability Benefit, Temporary Disability Benefit, Accidental Disability Benefits, and Funeral Benefit. Targeted at employers and corporate entities sponsoring group life schemes.
• Group Credit Life Insurance Group Credit Life Insurance is a cost-effective insurance product that ensures outstanding debt is settled should a client die or become disabled during the loan repayment period. It covers secured, unsecured, mortgage, personal, vehicle, overdraft, credit card, micro-finance, and SME loans. Claims are paid within 48 hours of receiving complete documentation. Targeted at financial institutions, banks, microfinance providers, SACCOS, and credit lenders.
• Group Funeral Insurance Group Funeral Insurance provides a lump sum payment to cover funeral expenses of a family member, ensuring the family is not financially burdened. Coverage includes the member, spouse, children (up to 4), parents, and parents-in-law, with maximum entry age capped at the lower of normal retirement age or 65 and cover continuing until age 70 for employer-funded schemes. Claims are paid within 48 hours. Offered on compulsory employer-funded basis or voluntary association/union basis.
• Education Life Assurance (AdaBima) Education Life Assurance (AdaBima) is an innovative life insurance product that ensures a child's educational journey remains undisturbed even if parents or guardians pass away. Metro Life pays school fees for students who have lost their parents/guardians until they complete their education levels. Includes a No Claim Bonus feature that refunds a portion of premiums if no claims are made until schooling is completed. Targeted at parents and guardians of school-age children.
• Embedded Life Schemes (Bima za Vikundi) Embedded Life Schemes (Bima za Vikundi) are life assurance benefits offered by financial institutions to their account holders, seamlessly integrated with bank accounts. Provides a lump sum upon passing to cover funeral and related expenses, protecting savings from being depleted by unforeseen circumstances. Premiums can be incorporated into monthly account fees or covered by banks as part of their customer value proposition. Targeted at financial institution partners and their account holders.
• Diaspora Repatriation Cover Diaspora Repatriation Cover is a specialized insurance plan for Tanzanians abroad, offering financial support for repatriation and burial costs. Protects account holder, spouse, and up to four children against death-related expenses, with benefits up to TZS 50,000,000 per member for repatriation or burial costs. If no repatriation is needed, TZS 5,000,000 is provided for funeral expenses. Coverage starts after three months of enrollment; rates adjust semi-annually based on claims and demographics. Distributed through NMB Bank diaspora account holders aged 18-80, with eligible children's coverage up to age 21 if schooling.

Quantifiable outcome

• Claims paid within 48 hours of complete documentation submission
• +3 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature3 records

Partnerships

One partnership is on record.

• NMB BankcoreChannel Partner/ Reseller/ DistributorNMB Bank serves as a key distribution channel partner for Metro Life's Diaspora Group Life Cover product. Active NMB diaspora account holders aged 18-80 are eligible for coverage up to TZS 50,000,000 per member for repatriation and burial costs. Claims are processed within 48 hours upon complete documentation. The partnership enables Metro Life to reach Tanzanians abroad through an established banking network.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• UAP Old Mutual: Major East African insurance group with deep penetration in Tanzania. Offers group life, education plans, and funeral cover through employer and bancassurance channels, competing head-to-head with Metro Life's product portfolio.
• Sanlam Kenya: South African financial services group with extensive East African life insurance operations. Provides group life, credit life, and funeral products, targeting the same corporate and bank distribution channels as Metro Life.
• Prudential Life Assurance Tanzania: Multinational life insurer with a Tanzanian subsidiary offering group life and savings products. Competes with Metro Life for corporate clients and employer-sponsored schemes in Tanzania.
• Allianz Life Insurance Tanzania: Global insurer's Tanzanian subsidiary offering group life and credit life products. Competes with Metro Life for large employer accounts and financial institution partnerships.
• Britam Holdings: Pan-African financial services group with significant life insurance operations in Kenya and East Africa. Offers group life, credit life, and embedded insurance products, competing for the same employer and bank partnership accounts as Metro Life.
• Liberty Life Africa: Regional life insurer with presence across sub-Saharan Africa including East Africa. Offers group life, credit life, and funeral products, competing for employer-sponsored schemes in Tanzania.

Regional players

• AAR Insurance Tanzania: East African health and life insurer with Tanzanian operations. Overlaps with Metro Life in employer-sponsored group benefits and funeral cover, though with a stronger health-insurance focus.

Direct peers

• Jubilee Insurance: One of the largest insurance groups in East Africa, offering group life, credit life, and funeral insurance products across Tanzania, Kenya, and Uganda. Directly competes with Metro Life in the employer-sponsored group life and credit life segments in Tanzania.
• ICEA Lion Life Assurance: East African insurance group offering group life, group credit life, and group funeral cover across Kenya, Uganda, and Tanzania. Closely comparable to Metro Life in product mix and bancassurance distribution.

Emerging players

• Resolution Insurance (now part of Britam): East African insurance company (now operating under Britam) offering group life and credit life products. Comparable to Metro Life in target market and bancassurance distribution approach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/metro-tanzania

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Metro Life Assurance