PICZ targets K320m turnover gross premium

PROFESSIONAL Insurance Corporation Zambia Plc (PICZ) is targeting to record a turnover gross written premium in excess of K320 million as at December 31, 2016, compared to K313 million in the same period last year.
PICZ board chairperson Susan Msoni said as at the end of November this year, the company recorded gross written premium in excess of K300 million , while profit after tax was at K24 million, and this was after paying total claims amounting to over K55 million.
Speaking during the PICZ media breakfast yesterday, Mrs Msoni said the company has continued to record positive growth, despite various economic challenges encountered in 2016.
“With only two days to go before the close of 2016, we expect to close the year with gross written premium turnover in excess of K320 million compared to K313 that we wrote at the close of 2015. Please bear in mind that these figures are unaudited. This is a good result considering the challenges that came with 2016.
“Though challenging, 2016 has been a good year for PICZ and this is largely due to the support that we have received from all our cooperating partners,” Mrs Msoni said.
At the same event, PICZ managing director Moses Siame said the company will continue to show commitment to the highest level of governance and strive to foster a culture that values and rewards ethical standards as well as corporate integrity.
Mr Siame, who was unveiled as the new managing director during the event, said PICZ has consistently supported efforts in raising insurance awareness since 2013.
“In 2017, we plan to undertake a number of corporate social responsibility initiatives to help raise the insurance awareness levels in the country. In this regard, and as a new year gift to the media fraternity, PICZ will be offering a scholarship to two journalists to study insurance at certificate level,” Mr Siame said.
He said PICZ will cover the tuition and fees for October 2017 exams, and that this will help equip the media with the insurance skills and knowledge to enable them report on insurance effectively.

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