GENERAL Alliance Insurance Limited is convinced that provision of high class services at competitive pricing will help in cementing its position as one of the leading insurers on the market.
This follows the company’s K41 billion kwacha profit register in 2017.
A cosigned statement by the chairman, Ramseh Savjani, and director, Abdul Dudha, disclosed that the insurance industry has so far seen the advent of strong competition and unusual underwriting behavior.
The company, which operates in Malawi, Tanzania and Zambia articulates that it has undertaken a review of key management positions which is expected to improve its performance.
Formed in 1996, General Alliance was in 2016 and 2017 awarded AA-Claims Paying Ability by the Global Credit Rating Company.
The statement has revealed that the company has consolidated its position in 2017 and has made a number of strategic operation changes.
General Alliance has, however, articulated the need for change in the economic conditions in all the countries that the group operates.
As a way of strengthening its roots, General Alliance cited that it has taken up measures where regulators in each subsidiary will take encouraging steps in regulating and managing market participants.