Nico General Chief Executive Officer, Donbell Mandala, has been elected new president of Insurance Association of Malawi (IAM) taking over from Grant Mwenechanya, whose term expired.
Mandala was elected during the association’s Annual General Meeting, which was held in Blantyre last week. The meeting also elected United General Insurance (UGI) Chief Executive Officer, Bywell Chiwoni, as vice president.
In his farewell speech, Mwenechanya asked members to support his successor so that the association continues to move forward.
“I have served as president for three years and hope I have run the race well.
“The journey was not all-rosy but overall, I have to thank you all for the support and encouragement that you provided to me. There is still a lot of work that needs to be done and it is my belief that my successor will also get full support,” he said.
Stating some of the notable achievements under his tenure, Mwenechanya said IAM has a new constitution as the previous one was outdated. He said the new constitution went through various stages of review.
“There were actions that were agreed during the meeting such as setting a joint technical committee and holding club meetings every quarter. The issue of commissions is also still being pursued by the brokers. My successor will have to ensure that these agreements do not die a natural death but that we pursue them for the betterment of our industry,” Mwenechanya said.
In his acceptance speech, Mandala said during his tenure, he will establish IAM as a key partner to government in the financial services sector to consolidate the economic development agenda.
“I would also like to oversee and drive conclusion of the projects, which are outstanding from my predecessor such as an agreement with the police, implementation and integration of the Maltis System and also push for adoption of the revised Road Traffic Act and growth of the Common Market for Eastern and Southern Africa yellow card sales,” Mandala said.
He also said he will support the regulator of financial services, the Reserve Bank of Malawi on the claims management directive to ensure it is fully implemented to benefit customers.
“During my tenure, I would like to develop a five-year strategic plan for the association to be implemented from 2018 to 2022,” Mandala said.