Nico General counts gains


Nico General Insurance Company Limited has said it is recovering from effects of the Covid pandemic, having registered growth in its income for the year ended December 31 2022.

This was said in Blantyre on Friday when the company hosted brokers to a cocktail.

The firm is poised to post a K3 billion profit for the year under review, with its investment fund expected to increase by 22 percent from K12 billion to K14.6 billion.


Nico General Insurance Chief Executive Officer Donbell Mandala said this indicates that the company has survived the peak of the Covid pandemic, which knocked economies and companies.

He said, going forward, the company is fully embracing technology in improving its services.

“Covid has taught us a lot of lessons and we have learnt that we can do business remotely. Therefore, in 2023, we are going to embrace digitisation to service our customers and, at the same time, manage our costs,” he said.


Mandala then hailed the firm’s brokers—who contribute about 65 percent to the business—for what he called unwavering support.

Marsh Malawi was awarded the overall best performer in the year and its managing director Mphatso Chadzala rated the recognition as a source of inspiration.

“Our business is about professionalism, honesty and other ethical dictates and that is what we believe in at Marsh. We gave them quality business in terms of less claims and other things,” Chadzala said.

Nico General Insurance Company Limited is a subsidiary of Nico Group, which has companies in other sectors.

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