Media Centre

One of the insurance companies in the country, Britam has donated Mk3 million towards the Insurance Institute of Malawi (IIM) 2021 annual conference.

The conference which will run for three days from October 28 to 30 will be held at Nkopola Lodge in Mangochi.

Speaking after presenting the donation on Thursday Britam’s Chief Executive Officer (CEO) Grant Mwenechanya said the company appreciate the role being played by IIM hence the donation. 

“Insurance Institute of Malawi is an arm of the Insurance Association of Malawi so when we were told that they are organizing this conference at the Lake we felt that it is important that we should come in and sponsor them. Our expectations are high that members will discuss issues that will uplift operations of the industry in view of Covid-19 effects,” he said.

Mwenenyanya then assured IIM that Britam will continue supporting IIM.

On his part IIM President Masauko Malaicha hailed Britam for the timely donation and he urged other partners to fulfill their pledges.

“Almost 30 companies, which are members of the institute have been kind enough towards the event financially for the event to take place,” said Malaitcha.

The 2021 Insurance Institute of Malawi conference will be held under the theme “Adapt bodily in the discomfort of global change.”


Old Mutual Malawi, one of the leading insurance companies in the country has partnered the Insurance Institute of Malawi (IIM) ahead of the Annual Conference slated for Mangochi.

As part of the partnership, Old Mutual Malawi has donated MK3 million toward the conference which is scheduled to run for three days from October 28 to 30.

Speaking after the donation Old Mutual Life Assurance Company (Malawi) Limited Managing Director Roy Punungwe said the company recognizes the vital role that the Institute plays in developing the skills and nurturing expertise required in the insurance segment. “This is the reason year after year we do not hesitate to partner with the Insurance Institute of Malawi (IIM) to sponsor its activities that are aimed at refining skills required in our profession.“I am excited to say it is not different this year as Old Mutual yet again, has committed to a Mk3 million sponsorship towards the Insurance Institute of Malawi’s Annual Conference for 2021,” said Punungwe.

On his part IIM President Masautso Malaicha hailed Old Mutual for the timely donation. “Us as IIM we are very thankful for this donation from Old Mutual Malawi which has always been there for us.

“This donation will help us a lot as we are finalizing arrangements for this conference which is slated for October 28 to 30,” said Malaicha.

This year’s conference will be held at Nkopola Lodge under the theme “Adapt bodily in the discomfort of global change.”



Malawi Revenue Authority (MRA) commissioner general Tom Gray Malata has advised the insurance industry to embrace digital technology, stressing that it could help in providing customer solutions in real-time. He said this on Saturday in Blantyre during the Insurance Institute of Malawi (IIM) Annual Charter Dinner held under the theme Digital Insurance: Innovate and Evolve.

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Malawi’s insurance penetration inched up by 0.61 percentage points from 1.4 percent to 2.01 percent in 2018, the Reserve Bank of Malawi (RBM) has said.
Speaking recently, RBM Governor, Dalitso Kabambe, said the penetration was 0.01 percentage points higher than the two percent target for 2018.
Kabambe said membership of pension subscribers has also increased from 250,000 to 393,313 against a target of 350,000.

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“The market is becoming more complicated and more complex as a result many claimants are being victimised.”
A statement the association released last week indicated that these fraudulent acts are denying legitimate claimants, especially under liability claims, to get their compensation.

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National Smallholder Farmers Association of Malawi (Nasfam) says it intends to reach out to 50 000 smallholder farmers with a weather-based index insurance (WBI) to protect farmers from crop losses due to bad weather.

WBI is one of the components under a project called Scaling Up Climate Resilient Solutions (SCRS) for Smallholder Farmers in Malawi that Nasfam is implementing. SCRS project coordinator Emmanuel Nasasara said in interview weather-based insurance will enable low-income farmers to better manage climate risk in their various agricultural practices.

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Chilima VPVice President Saulos Chilima is expected to grace this year ’s Insurance Institute of Malawi (IIM) Annual Charter Dinner slated for Sunbird Mount Soche in Blantyre on February 24.

IIM Events Officer, David Masasa, said in an interview  that Chilima, a professional economist, is expected to deliver a keynote address during the gathering.

Masasa said the dinner will be held under the theme ‘Business Unusual’.

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The Insurance College, which is wholly owned by the Insurance Institute of Malawi is pleased to announce the opening of January 2017 semester on 6 January, 2017.
Registration and orientation will take place on the same day from 10:00hrs at MPC Conference Centre opposite Museum, Chichiri, Blantyre.


IF1 – Insurance, Legal & Regulatory
IF2 – General Insurance Business
IF3 – Underwriting Process
IF4 – Insurance Claims Handling Process

P86 – Personal Insurance
P67 – Fundamentals of RIST Management

Registration: MK 7,500
Membership: MK15,000
Certificate: MK45,000/Subject
Diploma: MK55,000/Subject

Register as soon as possible and enjoy classes by veterans in insurance practice who are holders of ACII and FCII insurance qualifications.

Payment of fees should be done to the following bank details:
Acc Name: Insurance Institute of Malawi
Bank Name: FMB
Branch: Blantyre
Acc Number: 0200572620

This is the ONLY recognized insurance college by The Chartered Insurance Institute- The examining body

For more information contact the following:
Chikondi Siliya (Education Secretary) 0882 121 797.
Email [email protected]
Dharles Kuyokwa (Principal/Training Coordinator) 0888 307 035 or the Insurance Secretariat 01 835 169


Quiz Winners

Old Mutual Malawi Plc last week emerged winner in the Insurance Institute of Malawi (IIM) quiz competition held in Blantyre. The quiz is aimed at promoting knowledge and professionalism in the insurance profession. Old Mutual beat Insurance Institute of Malawi College and General Alliance Insurance Limited. llM president Immaculate Kachapila said the quiz competition shows the levels of commitment and knowledge that members have.

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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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Reserve Bank of Malawi Governor, Dalitso Kabambe, has challenged the country’s insurers to put in place interventions to help improve insurance penetration. Kabambe was speaking in Mangochi on Friday when he delivered a keynote address during the 2017 Insurance Institute of Malawi Annual Conference held under the theme ‘Business Unusual’.
Kabambe said an insurance penetration rate of 1.4 percent after 53 years of independence is unacceptable. “Insurance penetration in South Africa is at 16.9 percent, Namibia 6.7 percent and United Kingdom 10.5 percent. Our penetration is, therefore, very low. On pensions, our assets represent 9.3 percent of Gross Domestic Product compared to 96.8 percent for South Africa, 79.9 percent for Namibia and 95.3 percent for United Kingdom, just to mention a few.
Similarly, as at the end of 2016, we had approximately 246,000 employees on private pension against an estimated 5.0 to 6.0 million people in the formal and informal sectors of the economy,” Kabambe said.
The governor said the low insurance coverage reflects the existence of untapped pension market which requires the insurers to start doing business unusual to tap into this market. “We, therefore, seriously need business unusual ideas to turn our industry around and grow it. We need to innovate and develop new ways and practices that will turn the industry around and make significant contribution to the development of our country. “Insurance is all about protecting our assets and investments.
Clearly, there are a lot of businesses, assets and investments that are not yet insured. Why is this case and what can be done to ensure that the industry plays its rightful role?” Kabambe said. He noted that motor vehicle insurance dominates the industry despite Malawi being an agrobased economy.
“In the Agriculture sector, in particular, arguments have been made to the effect that if we had properly insured the sector, we could not have experienced the challenges of food insecurity and economic challenges the country experienced in 2015 and 2016 when the crop had failed due to weather variability. “These are some of the things we need to deeply reflect upon and come up with ways of dealing with such challenges in future,” Kabambe said.
He also challenged the insurers to devise better strategies on how to invest pension and insurance funds intelligently. According to Kabambe, total pension and insurance funds now stand at K520 billion.. “With contributory civil servants pension scheme coming into effect, we project that pension and insurance assets will exceed K1.5 trillion by 2020. We, therefore, need to develop appropriate investment avenues for these resources to positively contribute to the growth of the economy,” he said.
Insurance Institute of Malawi president, Immaculate Singano, underscored the need for insurers to start thinking outside the box to craft new ways to get more people banked. “In the present business climate, the view of business as usual cannot be accommodated anymore,” she said. The conference attracted over 150 delegates drawn from various insurance companies in the country. During the indaba, former Old Mutual Malawi and Old Mutual Ghana Managing Director, Chris Kapanga, received the Life Time Achievement Award for his contribution to the growth and development of the industry in the country.

By Yohane Symon -

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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