Marsh Malawi

Our Country Malawi is a democratic parliamentary Republic headed by a President who is elected every five years by universal suffrage. Malawi is the former British protectorate of Nyasaland and it became independent in 1964. Its economy is predominantly agro-based with 85% of its 16 million people living in the rural areas. Insurance penetration rate in Malawi is around 3% to 4.5%. Our Client Mix Our clients are from a cross-section of the Malawian industry representing almost every sector of the economy. Over a period of time our association with them has helped us in understanding their insurance requirements which are very industry-specific. This precious expertise obtained by us and nurtured by our clients helps us in providing effective service to them. Some of our valuable clients fall under the following sectors: INDUSTRY/SECTOR Non-Governmental Organization (NGOS) Health services Hospitality Property Development Financial/Investment Institutions: Aviation Manufacturing Companies Educational Institutions Tobacco Companies Mining and Energy Agriculture Transportation Public Services Our Main Strength Our overall strengths include but not are limited to: Conventional Insurances Specialist Insurances Innovative Insurances Exceptional Underwriting Claims Service Strong Network across Africa and other Continents Our Local Markets The Insurance sector is an important one in Malawi, being the second largest sector in our financial system but is still underdeveloped by regional and international standards. The Industry has 8 General insurers, 4 Life insurers, 1 Reinsurer, 11 Insurance Brokers and numerous Agents. Currently, the market is undergoing strong Regulatory changes and it will take several years to stabilise the Industry. Our Regulators The Industry is regulated by the Governor of the Reserve Bank of Malawi under the Financial Services Act 2010. The Act provides an entry control framework and powers of supervision. Specific industry requirements are regulated by the Insurance Act 2010. Other supporting Regulatory tools are issued in form of Directives. Our Business Principles and Practices The Marsh Malawi Terms of Engagement (ToE) (Version 1: June 2013) is based on the Marsh UK ToE, suitably modified to comply with the legal and compliance requirements of Malawi. The ToE is introduced by a short Letter of Engagement (LoE) addressing key provisions such as services, remuneration, term/termination and limitation on liability.

Address: Ground Floor, MDC House Glyn Jones Road Blantyre, Malawi

Phone: +265 1 820 044
FAX: +265 1 820 509