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Malawi insurers gear up for gala night

Written by  McDonald Chiwayula

Malawi insurers will this Saturday dine and wine in Blantyre as the industry will award meritorious students and do self appraisal of their activities in the industry.

 Malaicha: 'All set for the Charter dinner' Malaicha: 'All set for the Charter dinner'

The dinner held once a year has been organised by Insurance Institute of Malawi (IIM) with funding from various partners, some in the insurance industry.


IIM is the arm of the industry that focuses on training professionals in the field and overseeing the professional conduct of its members.


During the upcoming gala night seven people will be awarded insurance diplomas while 10 will recieve advanced diplomas and only one has attained the fellowship status.


Managing Director for Old Mutual Life Company, Roy Punungwe,  told MBC that his organisation has always been a partner to the Institute because of the critical role it plays in regulating the insurance industry and developing its professionals.


“We felt obliged to support IIM quest for funding the upcoming Charter dinner because they are a vital partner to us. We are a big player on the market and in terms of human resource development the IIM has been key hence our support towards this cause.


“Apart from this upcoming activity Old Mutual also sponsors IIM Annual Quiz Competition. We think it’s a very important event that exposes talent in the industry and it also creates a good platform for employers to identify brilliant prospective employees and engage the upcoming professionals,” said Punungwe.


Vice President for IIM, Masautso Malaicha applauded Old Mutual for the timely sponsorship saying it will help them in meeting some of budget lines.


“We are very excited for Old Mutual’s sponsorship towards the dinner. You see the Charter dinner is the climax of all events for the year ended 2019. It provides a good platform where insurance firms  spot briliant  prospective employees and allow industry captains interact with the upcoming professionals. We are  also cognizant of the fact that  we are going through challenging times not easy for the institute to raise money on its own. When we have such partners like Old Mutual, then our scheduled activities go by plan.


“In terms of accountability and transparency we assure all sponsors that we will account for every penny. Actually we have a budget which will guide our expenditures, we’ll also have a postmortem of the event and a detailed report will be released at the end. Right now I should say all is set for the Charter dinner,” said Malaicha.


According to Punungwe there’s low uptake of insurance services in the country apportioned to three percent of the market which calls for more innovative solutions and products to change the status quo.



Punungwe hands over a dummy cheque to Malaicha


Old Mutual has donated K1 million owards the Charter dinner.


All players in the industry including medical health insurance companies and the regulator, Reserve Bank of Malawi, are expected to attend. The Charter dinner is being held under the theme: ‘Leading at the edge, the future ready insurer.’

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