NICO Holdings sponsors K1.5m Malawi Insurance Institute annual charter dinner

As a gesture of solidarity, the country’s leading financial service provider, NICO Holdings has sponsored K1.5 million towards the successful hosting of the annual charter dinner where Insurance Institute of Malawi (IIM) awards students who have completed their studies in insurance.

Chapola (middle) making his speech
Mandala (left) and Chapola present the cheque to Mwase and Sunganani Kalizang’oma (right)

The charter dinner will be held on Saturday, February 29 at Mount Soche Hotel in Blantyre where the members are also going to usher in a new committee.

The cheque presentation was done by NICO Life and NICO General Chief Executive Officers, Eric Chapola and Donbell Mandala who both said they were duty bound to assist the Institute in its quest to provide the industry’s professionals.

“This is a body that has made the industry tick,” Chapola said. “We are also beneficiaries because all our employees have undergone the studies the institute offers from certificate to diploma.

“We saw it fit that for them, and us, to have a successful event we should also come in as partners.

“The insurance industry offers the best services because we always have very competent professionals who are trained by this Institute and also facilitates that others be trained outside the country.

“So we are proud to be part and parcel of the charter dinner where we interact to share ideas as well as map the way forward.”

Outgoing IIM president Maclonex Mwase, who works for Britam insurance company as Country Sales Manager, said NICO Holdings has always assisted the organisation in many ways in the contribution of having the industry be awash with very qualified insurers.

He said this time around they will be presenting diplomas to the successful students who underwent the course at Malawi Posts Corporation campus at Chichiri in Blantyre.

“We don’t take this gesture for granted even though NICO is part of this institution and has benefitted from it as well,” Mwase said.

“We are also honoured because Mr. Chapola here happens to be the Institute’s Board of Trustees chairperson.

“Now you can see how well connected we are with NICO in the drive to make this industry professional for the good of our clients out there,” he said.

On Tuesday, Old Mutual insurers also donated K1 million towards the same charter dinner.

Just last Friday, NICO Life and NBS Bank partnered with the Student Society of Banking and Finance, a grouping that aims at preparing the students on ethics and morals as they look forward to joining the financial service industry.

Banking and Finance was initiated at the Polytechnic over three years ago and now that it has settled well, the students themselves decided to establish the society with intent of connecting well with the corporate world.

The official launch at the Polytechnic in Blantyre was sponsored by NICO Life, NBS Bank and the Reserve Bank of Malawi as a gesture of solidarity to foster a lasting partnership towards the Banking and Finance degree programme.

NICO Life and NBS Bank are both subsidiaries of NICO Holdings together with NICO Pensions Services; NICO Asset – Eris Properties & NICO Properties; NICO Technologies and ICON Properties, that form the biggest financial services group in Malawi.

The NICO Group is the biggest financial services group in Malawi and also the first to have subsidiaries outside of Malawi with operations in Zambia, Tanzania, Uganda and Mozambique.

Established in 1971, it was the first to register on the Malawi Stock and the group has interests in Life and General insurance, pension services, investment management, banking, information technology, hospitality (Ryalls Hotel) and even health.

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