NICO Insurance Zambia Limited commenced operations on the 1st of October 1997 as a short term insurer. At the time, the company was wholly owned by NICO Holdings, a financial services company, listed on the Malawi Stock Exchange.

In 2013, Sanlam Emerging Markets (SEM) bought 49% of the business. Among other contributions, SEM brought technical support derived from its presence and experience in 34 Countries in Africa and other regions such as Malaysia and India.

Over the span of its existence, NICO Insurance Zambia has operated as a strong short term insurer, providing quality service to both retail and corporate customers. The company sells its insurance products through its Head Office in Lusaka and at branches which include Kabulonga (Lusaka), Kitwe, Ndola, Chipata, and Livingstone. The company is the fourth largest insurer in the Zambian market by revenue.

Being an innovative company, customers can purchase selected products online.


To be a strong insurer providing security and value to all stakeholders.


To be the most preferred General Insurance provider in Zambia.


Excellence, Integrity, Collaboration, Professionalism, Innovation, Transparency.


• To provide quality, superior and unparalleled service.
• To make a difference in the communities we operate in.
• To meet personal and business needs of clients.
• To identify gaps in the insurance market and fill them with innovative products.