To provide innovative and General Insurance products and services in niche markets. We are committed to customer service excellence.


To be the leading and innovative provider of world class General Insurance products and services in Malawi


Collaboration, Professionalism, Transparency, Excellence, Innovation and Integrity


NICO General Insurance Company Limited was formed as a short-term division of the National Insurance Company Limited (now NICO Holdings Plc), which was incorporated as a composite insurance company in 1971. NICO General was restructured into a stand-alone general insurance company in 2002. NICO General is 51% owned by NICO Holdings Plc and 49% by Sanlam Developing Markets (SDM).

NICO General is the leading short-term insurer in Malawi with a market share of approximately 35% and a gross written premium figure of MK20 billion for the year ended December 2020.

NICO General’s core business is general insurance. NICO General strives to ensure the security and peace of mind of its clients. NICO General delivers a reliable and timely claims service that is second to none in the Malawi market.

NICO General is rated by the Global Credit Rating of South Africa (GCR) and has attained a claims-paying ability rate of AA for 2021/22 year.

NICO Holdings Plc has an investment portfolio spanning from life insurance, pension services, hotels, real estate, banks, shopping malls, hospitals to telecommunication.

Other companies in which NICO Holdings Plc has significant shareholdings are: