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Finance
their revenue base and meet the financial needs of a
much wider market.
The Bank’s strategic objectives for achieving its mis-
sion and to play an effective developmental role in
Zambia are to: effectively mobilize short, medium, and
long-term financial resources required for develop-
ment on both profitable and competitive terms. They
also promote economic activities in the export sector
to enhance foreign exchange earnings.
Nowadays the bank promotes environmentally friend-
ly commercial and industrial activities and contributes
to the development of Zambia’s capital market.
Tobias H. Milambo
CEO
Base Park, Alick Nkhata Rd.
PO Box 37041, Lusaka
Tel: +260-211-253-723 / 39
Fax: +260-211-253775
tobias@diamond.co.zm
www.diamond.co.zm
Diamond General Insurance Limited, previously
known as Cavmont Capital Insurance Company, was
originally established in 2001. Diamond General In-
surance is registered under the Companies Act and is
licensed by the Pensions and Insurance Authority of
Zambia to underwrite non-life insurance or short-term
insurance. Diamond’s main objective is to create a
world-class insurance company with excellent claims,
payment and risk management services.
The company’s primary shareholders are Lava Con-
sortium of Zambia which has a 57% controlling share
of the company, and ZIMRE Holding of Zimbabwe
with a 43% stake in the firm. The company is there-
fore majority Zambian owned.
In August 2009, the company launched a rebranding
campaign and now operates as Diamond General
Insurance. The company’s continued growth since
the launch of the new brand which reflects team spirit
and the ability to successfully harness key values that
drive their business forward. The unrelenting pursuit
of market excellence enables Diamond General to
attract high quality intellectual capital, thereby estab-
lishing and retaining long-term relationships with cli-
ents. Diamond has grown rapidly achieving in excess
of 100% compound growth per annum over the last
three years. It is a dynamic, high energy and empow-
DIAMOND GENERAL INSURANCE LTD
ering company that delivers unparalleled services to
its clients. As the company evolves to face exciting
challenges ahead, Diamond General will continue to
listen, observe, think and innovate.
“The rebranding process and the company’s ability to
pay claims on time contributed to the market confi-
dence which we have gained.”
Tobias Milambo
Managing Director
Diamond General brings together technical and op-
erational expertise, exceptional market contacts and
extensive knowledge of the Zambian insurance mar-
ket. They offer a complete package of non-life insur-
ance products including the management of property
risks, construction and engineering risks, liability and
casualty risks, professional risks, motor risks and ma-
rine risks.
In 2009 Diamond General Insurance’s gross under-
written premium reached K20 billion and for 2010 they
aim to reach K32 billion. This growth will be achieved
as the country’s economic environment improves and
its rebranding process gains momentum.
Diamond is committed to providing an excellent
claims service through maintaining adequate liquidity
within their investment program to enable the compa-
ny to meet its day-to-day claim settlement obligations.
Diamond General promises to consistently attend to
their clients’ queries in a timely manner.
Diamond has engaged in many strategic partnerships
to further develop its business and to help meet the
needs of the Zambian people. In doing so the compa-
ny has partnered with Intermarket Bank and Mineral
Finance, a micro lending institution. The prime focus
of these partnerships is to offer accessible insurance
services to people of lower socio-economic standing.
Diamond also strives to educate the market on the
benefits of insurance.
Diamond represents a new generation of insurance
companies. Through their innovative products, exten-
sive knowledge of the market and forward thinking
managerial structures, their aspirations of becoming
the market leader are becoming a reality.
“At Diamond, we strive to create a world-class in-
surance company that within the shortest possible
amount of time, will settle our client’s claims and fulfil
the promise that we make to them when they buy our
insurance products.”
Tobias Milambo
Managing Director