Diversified financial services group, Britam Holdings plc, which is the parent company for Britam Insurance Malawi, has rated the local market as significant for its operations and growth.
Britam Holdings plc Regional Chief Executive Officer (General Insurance), Jackson Theuri, said in an interview that the firm has since rolled out a new strategic plan, covering years 2026 to 2030, which aims to position itself as a continental insurances and financial services powerhouse.
He was speaking on Tuesday on the sidelines of a cocktail the firm hosted for local insurance brokers.
“We see Malawi as one of the markets that have a very high potential, and we have made good progress here.
- Advertisement -
“Malawi, as a nation, has very bright prospects; if you look at the ATMM priorities, for example in agriculture, there is vast potential. Tourism is also key for Malawi as an emerging economy in Africa. So, these, and other sectors gave the economy an edge,” he said.
- Advertisement -
He said Britam is positioned to harness the potential Malawi has, by tapping into the opportunities availed in the various sectors of the economy.
Theuri said the firm will continue increasing its service offering in countries it is operating, and investing in expanding its footprints across the region.
Britam Insurance Malawi Board Chairperson Benedicto Nkhoma said Britam Malawi remained in a systematic position to contribute towards growth of its parent company.
“We are getting into the next phase of our strategy where we are consolidating the gains that we made in the past and try as much as possible to align our strategy with the national vision, the Malawi 2063.
- Advertisement -
“Key for us is financial inclusion and deepening the market. The Malawi market is a great investment opportunity, and we see a lot of opportunities,” he said.
In 2025, Britam Insurance Malawi registered a 36 percent growth in contract revenue from K13.8 billion in 2024 to K18.7 billion.
The company posted profit before tax of K3.9 billion, from K1.9 billion recorded a year before, representing a 106 percent increase.
