Home Business and Technology ZSIC makes K24 million in profit

ZSIC makes K24 million in profit


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.

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.

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