Stanbic Zambia gets PIA insurance brokerage licence

STANBIC Bank Zambia has become the first bank in the country to receive an insurance brokerage licence from the Pensions and Insurance Authority (PIA).

The licence gives Stanbic Insurance Brokers Zambia Limited the ability to distribute a range of segment from multiple underwriters that are specific to insurance products.

Stanbic Insurance Brokers Zambia chief executive officer Chilufya Nyirenda said the licence also allows for full implementation of the bank’s Bancassurance strategy, which is part of its goal to meet clients’ broader financial service needs, enhancing loyalty and creation of non-funded income as new frontiers for growth. Source: Zambia Daily Mail Limited