CIC insurance upbeat on future prospects
Cooperative Insurance Company (CIC) Africa in Malawi says it will continue to offer competitive insurance products and services to its existing and potential customers.
CIC board chairperson Neil Nyirongo said this on Saturday in Lilongwe during a send-off cocktail party for its former country director Robert Murighi.
During the same event, the insurance firm also welcomed its new managing director Chrispinus Muang’a.
Nyirongo said the insurance firm, which entered the Malawi market in 2016, believes in delivering better services to its customers as a way of finding ground in the insurance sector.
Said Nyirongo: “Our target is to be in the top three of the best insurers in the country from the position seven we are currently on out of the 13 insurance companies.
“We appreciate the efforts done by the former managing director as he made our imagination of how we can penetrate in the insurance sector in Malawi possible. For that, we will always remember him.”
On his part, Murighi, who will be heading back to Kenya, said despite encountering challenges when CIC entered the Malawi market, it managed to chalk a profit of up to K1.1 billion in the year ended December 31 2018.
“We are the fastest growing insurance company, so far, and I believe the new managing director will make it even better so that in five years to come, CIC should be the best insurance company in Malawi,” he said.
CIC, the first cooperative insurance firm in the country, is jointly owned by Malawi Union of Savings and Credit Cooperatives (Muscco) and CIC Insurance Group Limited from Kenya.
