Insurance companies in Malawi; Life insurance companies in Malawi

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Insurance companies in Malawi offer broad range of insurance products. Insurance industry in Malawi is in infancy stage. It is one of the most competitive industries for both local and multinational companies. The penetration of life insurance is about 2.2 percent.

Some types of insurance products that insurance companies in Malawi offer are motor insurance, life insurance, home owners insurance, fire insurance, medical insurance, and travel insurance.   The reserve bank of Malawi regulates insurance companies in Malawi.

Challenges of insurance industry in Malawi

The insurance industry in Malawi is growing at a slow pace due to some challenges as shared below.


The first challenge is the high poverty levels among majority of the Malawi population. Malawians like other third world citizens have little to no disposable income. As a result such people do not have interest to invest in insurance products.  This would be the reason most of Malawians do not buy insurance products.

The other set back is what others describe as lack of political will. Insurance industry like any other industry requires support from the government policy makers. As of now it appears that the government strategies that are in place are not enough to promote insurance industry in the country.   

Delays in settling claims

Many other people who owns insure their properties complain of delays by insurance companies to settle claims. Hence, prospective insurance clients get discouraged when they hear a lot of such complaints from existing users. For example, it happens where a person who insured his or her property wait for five or more years to get their claims. This is often a discouragement for people who would like to get their claims settled quickly.

High cost of premiums

And then the challenge of high cost of premiums. Since most Malawians leave below the poverty line, the cost insurance premiums are out of reach to them. The rise in road accidents and insurance theft are some of the reasons blamed for the high cost of premiums.

Complexity of the business

Issues to do with insurance are complex for the average person on the street. This is the case partly because the illiterate levels in the country are high. As a result it is difficult for majority of the people to understand the benefits of insurance products. Hence, some people hesitate to insure their properties. Many people require civic education or awareness to understand insurance benefits.

Delay in technological adaptation

Malawi insurance industry is slow to adapt the use of technology to offer insurance products. In some countries where insurance industries are robust insurance companies offer their products online. As the number of mobile internet users increases this an opportunity for insurance companies in Malawi to offer some of their products online or through phones.

List of Insurance Companies in Malawi

  1. Charter insurance company

Contact Address:

Unit House, Ground Floor
Victoria Avenue
P.O Box 354, Blantyre
Phone: +265 1 832 844

Email  :


  1. Prime Insurance Malawi (Prime Insurance Company)


Prime Insurance Company Limited
Chief Kilupula Building
P.O Box 30280
Capital City
Lilongwe 3
Phone:  +265 (0) 1 757 721 

Email  :


  1. Reunion insurance Malawi


Amina House, Ground Floor

East Wing Chilambula Road

Tell: +265 177 158



  1. Nico General Insurance Company Limited 

NICO House

P.O. Box 2592


Tell: 265 1-822 699

Website: www/


  1. General alliance insurance limited

Alliance House,
Corner Sharpe Road/ Independence Drive,
PO Box 1811,
Blantyre Malawi
C Africa

Tell      : +265 1 822 100/111
Fax     : +265 1 821 088
Email  :


  1. Old Mutual Insurance

Old Mutual Building
30 Glyn Jones Road

P.O. Box 393

Tel: +265 (0) 1 820 677
Fax: +265 (0) 1 822 649


  1. Britam insurance

Delamere House, Victoria Avenue, Blantyre

P.O.Box: 442

Telephone: +265 (01) 824044 / +265 (01) 823893




  1. Vanguard Insurance Company

2nd Floor , Mpico House

Glyn Jones Road

P.O. Box 1625


Tell: 265 (1) 823 36



  1. Smile Life Insurance Company Ltd
    Livingstone House, Livingstone Avenue
    P. O. Box 1374, BLANTYRE
    Tel       : +265 1 832 211 / 244
    Fax     : +265 1 832 180
    E-mail :
  2. AONMalawi Limited
  3. United general insurance
  4. Citizen insurance company




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