The number of insurance and pension entities has increased to 408.
Pensions Insurance Authority (PIA) Registrar and Chief Executive Officer Chris Mapipo says the insurance and pension entities has scaled up from 361 last year to 408 this year.
Mr. Mapipo who disclosed this during a media breakfast in Lusaka today, further said Authority this year licensed 152 insurance entities and 256 pension entities.
And insurance and pension entities as of last year contributed over K700 million to the country’s Gross Domestic Product (GDP).
Pensions Insurance Authority (PIA) Registrar and Chief Executive Officer Chris Mapipo
said this is a drop from the over K1 billion contribution made by the insurance and pension entities in 2007.
The Authority draws its mandate from the pensions Scheme Regulation Act of 1996.
ZANIS/AJN/AM/ENDS
I hope there are no swindlers at work. This economic crunch has made some criminals become very creative.
Editor, contribution to GDP by insurance companies is far,far more than figures given.perhaps someone should better verify.I would accept a figure of K7OObn and a trillion for last year.regards
I only hope that there are very strong inherent regulatory measures to protect the public from loses in the event of these schemes going bust.
Some Ghost figures??