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Finance
Zambia Ltd, was incorporated in Zambia in 1998 and
started trading under the Insurance Act No. 27 in
1999. Zambian Re is a wholly owned subsidiary of
ZimRe Holdings Limited. ZimRe Holdings Limited is
an investment company holding a number of linked
subsidiary companies operating all over Africa, in-
surance, is but one of the Group’s core businesses.
ZimRe Holdings Limited is responsible for the over-
all strategic guidance, direction and support for the
Group as well as coordinating the resource require-
ments of the operations of its subsidiary companies.
Zambian Re was established as the first resident
reinsurance company in the Zambian insurance
market providing facultative and treaty reinsurance
business in the Marine, Motor, Fire, Engineering,
Casualty, Bonds and Guarantees, and Agriculture
classes of insurance. Zambian Re also provides
complimentary risk management services to their
clients. They aim for excellence in the provision of
reinsurance and risk management solutions.
Their business philosophy is centred on long-term
relationships. Zambian Re pride themselves on be-
ing flexible, reliable and offering a quick turnaround
for their clients. The management team consists of
qualified, skilled and experienced people. They also
boast to have the most advanced business operating
system on the market in the form of SICS/nt. This
enables them to offer dynamic financial security to
their clients efficiently and effectively.
Zambian Re has shown steady growth over the last
few years and in 2009 had K19.4 billion in gross pre-
miums. Apart from the traditional money markets,
Zambian Re is currently in the process of diversifying
their investments into alternative avenues in order to
minimize their risk. They are looking to gain a stake
in various companies within the financial sector and
also to invest in the local stock market.
As Zambian Re has over a decade of experience on
the local market, they hold their sharp understand-
ing of the local market as an asset and offer a great
degree of expertise and knowhow in order to provide
innovative and world-class reinsurance service to all
relevant stakeholders.
“We are looking at incorporating foreign investors so
that we can solidify our performance in the market.
We would also like to expand our reach and facilitate
new partnerships so that we can learn from others.”
Robert H. Sichilimba,
Chief Executive