NICO General Insurance Company Limited is 51% owned by NICO Holdings Limited and 49% by Sanlam Energing Markets (Proprietary) Limited. NICO Holdings Limited has an investment portfolio spanning hotels, real estate, a hospital, and a shopping mall. Other companies under NICO Holdings Limited are NICO Life Insurance Company Limited, NICO Zambia Insurance Limited, NICO Insurance Uganda Limited, NIKO Insurance Tanzania Limited, NICO Technologies Limited and NBS Bank Limited . The group’s corporate strategy is to expand representation in the SADC region in addition to the already existing short-term subsidiaries in Zambia, Uganda and Tanzania.
Sanlam Emerging Markets (Proprietary) Ltd is wholly owned subsidiary of Sanlam Group and is the business cluster responsible for the Group’s financial services ( life and general insurance as well as asset management outside South Africa.
Sanlam is a leading diversified financial services group and was established in 1918. Sanlam Limited provides financial solutions to institutional and individual clients and is listed on the Johannesburg Stock Exchange. The Group has a business presence in 10 countries on the African Continent (excluding South Africa), India as well as Malaysia.
The partnership of the two shareholders offers immense synergies for the benefit of NICO General Insurance business clientele across all aspects of both the individual and corporate clients’ value chain.