National insurance corporation options study
ASI was selected in late 2001 to undertake a privatisation options study for the National Insurance Corporation of Tanzania. The team worked alongside the senior management of NIC in order to analyse the financial and business information required to formulate proposals for privatisation. This analysis included consideration of whether the two sides of the business of NIC (life and non-life) should be split or should remain together. Initial legal due diligence was also undertaken to ascertain whether there are any legal obstacles to privatisation of the company.
The study also entailed undertaking a regulatory review of the insurance market to ascertain where more stringent regulation is required in order to have a properly regulated market in advance of privatisation of NIC. ASI produced a roadmap for regulation as part of this exercise. As part of the study, the team visited private insurers to discuss their perceptions of NIC and to ascertain whether they had any interest in purchasing any part of the NIC business.