Nico registers 31% premium growth


Nico General Insurance Company has registered a premium income of K6 billion for the past six months of the year, representing a 31 percent growth.

Nico Chief Executive Officer, Eric Chapola, attributed the growth to continued support from the general public and corporate organisations.

“We are a strongest and rated company on the market. But looking forward, I think you know the economy is going towards very challenging times. Interests and inflation rates are very high, there are no new investments coming into the country. But for us it is the strong companies that continue to survive, and thrive in conditions like these. As Nico General we are positive that 2016 will be a better year than 2015 despite the challenges we are facing,” said Chapola.


Nico General Chief Operations Officer, Donbell Mandala, said Nico is a solid company with high level of professionalism and service standard.

“We are trying to do the best in the market. The Reserve Bank of Malawi says we need to pay within 14 days after you signed back discharge voucher. Nico believes in multiplying everything else by two, but considering that 14 days is longer, we divided it by two and we pay the discharge voucher within a period of 7 days,” said Mandala.

He also disclosed that the company commit a claim of K2 million as the cost to be paid within 24 hours, if all the documentation are submitted and claims are payable.

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