Thursday, June 13, 2024

Government advises businesses to utilise insurance


Government has challenged business entities and farmers to utilise various insurance services if they want to record positive results in their businesses.

ZSIC Limited General Insurance has made a turnover of K285 million against a target of K218 million which translates to 31% increase above budget.

Muchinga Province Minister Henry Sikazwe said natural incidents such as flooding, fire, heavy rain storms and other disasters should not stall business operations when various insurances are available.

In a speech read on his behalf by the Deputy Permanent Secretary Jonathan Ng’onga during the official launch of the Zambia State Insurance Corporation (ZSIC) Limited General Insurance Chinsali office, Mr Sikazwe said the coming of ZSIC General Insurance in the region should be a reminder to all to prioritize insurance in their daily undertakings.

“Most of us only remember insurance when a disaster happens, what we overlook is that insurance helps us sail smoothly through any turbulence or tragedy we may experience in our lives, ” he said.

The provincial administration is certain that the ZSIC General Insurance Chinsali branch office will help in the provision of insurance services for the people in the area, Mr Sikazwe added.

He further appealed to residents and investors in the district and the province at large to use the services that have been brought closer to their doorsteps.

And speaking earlier, ZSIC General Insurance Board Chairman Clement Sichembe said the company has recorded positive results as at June 2021.

“Our turnover stood at 285 million against a target of 218 million kwacha which translates to 31 percent increase above budget, ” he said.

Mr Sichembe added that as a result, his company achieved a 46 percent growth in turnover last year amidst social-economic challenges and the advent of COVID-19 pandemic.

Meanwhile, ZSIC General Insurance Managing Director Charles Nakhoze said the company has made exceptional strides adding that the company has settled up to K70 million in claims in the past year.

The official launch of the ZSIC General Insurance Chinsali office which took place this morning was attended by Chinsali Mayor, Senior government officials, ZSIC General Insurance business partners and clients among others.

Read more

Local News

Discover more from Lusaka Times-Zambia's Leading Online News Site -

Subscribe now to keep reading and get access to the full archive.

Continue reading