Old Mutual awards best performing insurance brokers for 2022

Old Mutual Malawi Limited has awarded best performing insurance brokers for the ending year as a sign of appreciation for the role they played in the growth of the company and to motivate them to work even harder in 2023.

The colourful award presentation ceremony took place at Blantyre Sports Club where deserving brokers received trophies.

General Manager for Old Mutual Pension Funds Taonga Manda said despite 2022 being a turbulent year in terms of business, his company continued to thrive because of the efforts the brokers put in.

Manda–We appreciate the role insurance brokers play towards growing our business

Manda said this is why the company decided to celebrate the feat by awarding the best performers.

“We all know that it has not been an easy year. Almost every side of the economy has been impacted and Old Mutual, as any other institution, has not been spared. But despite the challenges, we have made sure that we work hard to get new businesses,” he said.

He stated that brokers played a critical role in bringing in new business to Old Mutual Malawi Limited and also to service the existing customers.

“If you look at the side of getting new business, we got in excess of five new funds coming through the brokers and we were able to maintain the relationship with our customers that we got through our brokers,” said Manda.

However, Manda lamented high levels of pension non-remittance by different companies, stressing that this affects retirees’ welfare.

Head of Finance and Administration at Marsh Malawi Limited and a representative of the brokers, Hudson Kantwanje, admitted that it was not easy to make a significant contribution to Old Mutual Malawi Limited owing to the bad economic climate.

“To be honest with you, the major challenge we have been facing in 2022 is the economic environment. As the impact has affected almost every industry and also the economic downturn has also affected our clients, which has also affected the insurance market,” he said.

“But going forward, we are seeing hope as we are aware that there is a bill that has been just passed in parliament that will affect some players on the market, especially those that are struggling because penalties that are there are so punitive, but we are hopeful that with the improvement of the economy things are going to turn better,” added Kantwanje.

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