The newly appointed Managing Director of ZSIC General Insurance (ZSIC GI), Mr. Trevor Jengajenga, has reaffirmed the company’s commitment to delivering strong financial performance and ensuring returns for its shareholder, the Industrial Development Corporation (IDC).
Mr Jengajenga said this during his courtesy call on IDC CEO Mr. Cornwell Muleya, where discussions centred on the company’s growth strategies and financial sustainability.
Accompanied by Director for Finance and Administration, Mr. Sidney Chikuta, and Deputy Director for Risk and Compliance, Ms. Linda Kalimamunkweto, Mr. Jengajenga acknowledged the significant responsibility placed on ZSIC GI to enhance its profitability and contribute meaningfully to the IDC portfolio.
Mr. Muleya emphasized the importance of ZSIC GI aligning itself with the IDC’s 10-Year Strategic Plan, which provides a blueprint for the sustainable development of companies under the IDC Group. He encouraged ZSIC GI to leverage the pioneering Intra-Group Trading Policy, a key initiative that promotes business synergies among IDC subsidiaries to strengthen financial resilience within the Group.
In view of evolving insurance regulations, Mr. Muleya emphasized the need for ZSIC GI to implement innovative strategies to address capital adequacy requirements, ensuring compliance and long-term stability. He commended the company’s recent transformation into profitability, attributed to sound business management practices and IDC’s turnaround initiatives.
Mr Muleya also urged ZSIC GI to develop inclusive insurance products and services that cater to a broader segment of the Zambian society.
