ZSIC makes K24 million in profit

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The Industrial Development Corporation -IDC- is impressed with ZSIC General Insurance performance in 2020, which has seen an increase in its gross written premiums sitting at 373 million kwacha.

The increase represents a 46 percent increase compared to 2019 gross written premiums which closed at two hundred and fifty-four million kwacha.

ZSIC Insurance also posted a profit before tax of 37 million kwacha and a net profit of 24 million kwacha.

IDC Group Chief Executive Officer MATEYO KALUBA says he is happy that interventions that were instituted after they took over supervision of operations in 2017 are yielding results.

Mr. KALUBA was speaking during the official opening of the ZISC General Insurance Premium branch at UCZ Synod Complex in Lusaka.

He further said the results that ZSIC General Insurance has posted are impressive considering the challenges that most businesses faced in 2020 due to the covid-19 pandemic.

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Meanwhile, ZISC General Insurance Board Chairman CLEMENT SICHEMBE said he is impressed that the company outperformed itself in 2020 by exceeding its gross written premium target by thirty three percent.

Mr. SICHEMBE said the outstanding performance is attributed to among other things proactive approach to new business acquisition and enhanced customer service for client retention.

In Other News: President Lungu comes to Pastor Makembo’s rescue

Zambia Sports Fans Association PatroPastor Peter Makembo has disclosed that Republican President His Excellency Dr. Edgar Chagwa Lungu has had come to his aid in his quest to meet medical bills.

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Pastor MAKEMBO was speaking when Lusaka Dynamoes FC donated K100,000 towards his medical bills. Copperbelt Division one side Jumulo FC alsolearn more

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