In 2013, the brand was further enhanced in terms of equity restructuring when the Sanlam Group through the Sanlam Emerging Markets (SEM) took a direct 49% equity stake at Company level.
Among other value propositions, SEM has brought technical support to the Company derived from its presence and experience in 34 Countries in Africa and other countries such as Malaysia and India.
Over the span of its existence, NICO Insurance Zambia has operated as a strong short term insurer providing quality service to both retail and corporate customers. The Company sells its insurance products through its Head Office in Lusaka and at branches which include Acacia Park (Lusaka), Kitwe, Ndola, Chipata, Livingstone and Choma. The Company is the third largest insurer in the Zambian market by revenue.
Members of the public can also buy selected products online.
Since inception, NICO Insurance Zambia Limited has posted steady growth with annual Gross Written Premium increasing as follows:
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