Media Centre

NICO General has provided MK1 million towards this year's quiz competition which is being organized by the Insurance Institute of Lilongwe.
NICO General Assistant General Manager, Master Mbale, said the company values training; and sponsoring the quiz will encourage a reading culture in the insurance industry.

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The Insurance Institute of Malawi (IIM) honoured Chris Kapanga, former Group CEO of Old Mutual Ghana and Old Mutual Malawi, for “exceptionally outstanding leadership and professional competence” during his 37 year career in the insurance industry.

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The Insurance Institute of Malawi, the training arm of the insurance industry, on Friday donated medical supplies worth MK500, 000 to Mangochi district health office (DHO). The donation took place on the sidelines of this year’s IIM Annual Lakeshore Conference which was held from Thursday 17th August to Saturday 19th August.

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The Governor of the Reserve Bank of Malawi, Dr Dalitso Kabambe, will present a keynote address at the Insurance Conference slated for 17th to 19th August in Mangochi.
Chairperson of the organizing committee of the insurance conference, Chimwemwe Kanyenda, disclosed this in an interview on Saturday.

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Insurance companies in Malawi have been urged to expand their horizon and compete in other sectors rather than the conventional ones which include motor cover.
This was said during a two day agriculture insurance training organised by the Insurance Institute of Malawi (IIM).
The training was facilitated by Afro-Asian Reinsurance Brokers Limited.

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The Insurance Institute of Malawi (IIM) Annual Lake Conference will be held at Sunbird Nkopola in Mangochi, from 17th to 19thAugust 2017.
Chairperson of the organising committee, Chimwemwe Kanyenda, said the gathering will provide a platform for insurance industry professionals to learn more about the state of the insurance sector, stay up to date with industry trends and connect with peers across the sector.

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The Insurance Institute of Malawi (IIM) has urged insurers to maintain professionalism when executing their job.

This was said during the closing of a two-day training on Pension and Life Directives, which was organized by IIM in conjunction with the Reserve Bank of Malawi (RBM).

The training was mainly to update and remind the participants on some provisions of the Pensions Act.

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The country’s insurance players will meet in Mangochi in August for the Insurance Institute of Malawi annual conference which will be held under the theme, ‘Business
Unusual’.

Chairperson of the organising committee Chimwemwe Kanyenda said the gathering will provide a platform for insurance industry professionals to learn more about the state of the insurance sector, stay up to date with industry trends and connect with peers across the sector.

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The Insurance Institute of Malawi (IIM) will hold a sports day on 24th June, 2017. The sports day will take place in Blantyre at the College of Medicine Sports Complex.

The sports festival, which has been held for more than a decade, aims at

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The Insurance Institute Charter dinner for this year will be held on Saturday 25th February at Sunbird Mount Soche hotel under the theme “delivering our promise”

The charter dinner is an annual event and it is attended by a diverse group of people from members of the insurance industry, pension administration as well as clients from other various industries.

The event presents the perfect opportunity for networking as well as building new working relationships. On the day, we also take time to recognize, award and celebrate with students who have completed the various levels of the Chartered Insurance Institute of London examinations, which include those students who have attained the most sought after chartered status.

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United General Insurance (UGI) last week emerged overall winners in the Insurance Institute of Malawi (IIM) quiz which started in December, 2016.
UGI beat NICO Genral Insurance Company Limited by nine and a half points to six points.
The quiz, which is sponsored by Old Mutual Malawi, is aimed at building capacity for insurance professionals in Malawi.
IIM president Immaculate Kachapira said the quiz provides a platform where managers identify key insurance players they can employ in their companies.
Old Mutual business programme and strategy executive Khumbo Phiri said their goal is to empower people practicing insurance so that they are conversant with insurance issues.

By Staff Reporter - The Nation

08 02 17

New entrants into the insurance industry have been asked to be aggressive and radical in upholding professionalism if they are to improve the sector’s penetration rate.

Speaking during the Insurance Institute of Malawi (IIM) quiz competition, Marketing and Corporate Affairs Manager for Old Mutual Malawi, Linda Poya, said despite a relatively low penetration insurance rate, there is room for improvement if players abide by professional ethics.

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The Insurance Institute of Malawi (IIM) has bought 20 books authored by insurance practitioner, Chimwemwe Kanyenda, to be distributed to colleges and secondary schools.

The book, Random Thoughts on Insurance Practice: A Practitioner’s Exposé, is dedicated to a series of topics revolving around insurance and risk management.

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The acquisitions will support insurance penetration in the region, positioning the companies for growth.

Liberty Holdings (Liberty) is pleased to announce the conclusion of two more short-term insurance transactions in sub-Saharan Africa following the announcement earlier in the year of the acquisition of East African Underwriters in Uganda.

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Insurance practitioner Chimwemwe Kanyenda has authored a book that simplifies insurance issues for the lay person.

Kanyenda’s commitment and passion to learning and sharing the contemporary and complex issues in insurance is exemplified by his weekly column titled Insurance Insight published on Wednesdays in The Daily Times newspaper.

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Silver Strikers players will now have insurance cover, the Reserve Bank of Malawi sponsored club has disclosed.

Other benefits the club is set to introduce will be receiving compensation after suffering career-ending injuries.

Silver acting general secretary Thabo Chakaka-Nyirenda pledged that n players will be insured soon.

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The Competition and Fair Trading Commission (CFTC) has said the insurance industry in Malawi has a high market concentration, a situation which signifies that market power in the industry can be abused.

CFTC Director of Mergers and Acquisitions, Richard Chiputula presenting a paper in Mangochi at the 2016 Annual Conference for the Insurance Institute of Malawi, noted that both general and life insurance markets in the country are concentrated.

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National Bank of Malawi Chief Executive Officer, George Partridge, has warned insurers against price undercutting as one way of surviving in the highly competitive market.

Partridge was speaking in Mangochi on Friday, when he delivered a keynote address during the 2016 Insurance Institute of Malawi (IIM) Annual Conference held under the theme ‘Delivering the Promise’.

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NICO Life Insurance Company on Thursday presented a MK25 million cheque to the Insurance Institute of Malawi (IIM) towards the insurers’ body‘s annual conference which starts in Mangochi on August 18.

In addition, the company will also send its employees as well as help bringing into Malawi (left) three experts from South Africa to speak at the conference.

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