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.
Kanyenda said consistent with the provisions of Section 8 (2) of the Financial Services Act 2010, the Governor of the Reserve Bank is the Registrar of Financial Institutions, adding that insurance/reinsurance companies, insurance brokers, loss adjusters and insurance agents fall within his regulatory purview.
Due to their great importance to the economy and society as well as particularities of insurance products, insurance markets are traditionally among the most regulated markets. Currently, as a result of fundamental transition processes happening at the same time, large parts of the regulatory framework for the insurance industry are undergoing major changes. The future performance of the insurance industry will depend strongly on the success of the current reform measures.
Kanyenda further said, Dr Kabambe will provide an informed perspective on the challenges faced in the insurance market and the regulatory interventions being developed to support the insurance industry for the market players to add value to their customers. He will also give his unique insight into the current trends and innovative developments that we are seeing across the industry.
He added that the meeting will also bring together a galaxy of local and international speakers.
Other notable speakers to address the delegates include former Managing Director of Old Mutual Malawi and Old Mutual Ghana, Chris Kapanga, Mark Greenwood, International Director, Chartered Insurance Institute and Michael Duncan of Marsh Africa.
In related news, NICO Life Insurance Company, a leading provider of a comprehensive range of life insurance offerings, on Tuesday 1st August presented a MK2.5 million cheque to the Insurance Institute of Malawi (IIM) towards the insurers’ body‘s annual conference.
A fortnight ago, NICO General Insurance Company, also donated a similar amount towards the conference.
Kanyenda expressed profound gratitude and hailed NICO Life and NICO General for the timely donations.