Finding a trustworthy financial protection provider in Zambia is a critical step in safeguarding your health, family, and assets. With a growing market and numerous options, it can be difficult to know where to start. This comprehensive guide provides a clear, updated list of Zambia’s leading carriers to help you compare your options and make a confident choice.
The providers below are organized into clear categories, from general and life specialists to health plan providers, banks, and essential government bodies.
ZSIC General Insurance
Zambia's leading state-owned provider for motor, property, and business risk solutions.
Madison General Insurance
A premier private firm offering comprehensive medical schemes and general products.
National Pension Scheme Authority (NAPSA)
The mandatory government social security fund providing retirement benefits to workers.
Hollard Insurance
International insurer offering tailored personal, business, and corporate risk solutions.
Sanlam
Provides life policies, retirement annuities, funeral plans, and general protection solutions.
Professional Insurance Corporation Zambia (PICZ)
Offers a comprehensive range of general products with a focus on corporate clients.
Prudential Life
Specializes in innovative life, health, and investment-linked products for individuals and groups.
Zambia National Commercial Bank (Zanaco)
Offers various financial products like life assurance and asset protection through its banking network.
NICO
Delivers a broad selection of general policies for personal, commercial, and corporate clients.
Stanbic Bank
Provides a range of financial products, including funeral cover and credit life assurance.
Absa Bank Zambia
Delivers credit life, funeral, and other personal policies to its banking customers.
PHOENIX Assurance Group
Offers a range of short-term covers for commercial, liability, and personal needs.
Liberty Health
A specialist in providing comprehensive and flexible corporate and individual health insurance solutions.
MAYFAIR
Delivers a variety of general policies for both individual and corporate business needs.
Zambia Reinsurance PLC
A key player in the Zambian market offering reinsurance services to support primary carriers.
Overview of the Zambian Insurance Market
Key Trends in the Zambian Insurance Sector
The insurance industry in Zambia is robust and regulated by the Pensions and Insurance Authority (PIA). The market is historically divided between state-owned giants like ZSIC and growing private sector players.
Currently, the Motor Third Party insurance is mandatory for all vehicles on public roads. A significant trend in 2025 is the rise of Bancassurance, where major banks like Zanaco and Stanbic partner with insurers to offer policies directly to account holders. Additionally, Microinsurance is gaining traction, offering affordable protection for small-scale farmers and traders against climate risks
Frequently Asked Questions
Q1: Is car insurance mandatory in Zambia?
Yes. Under the Roads and Road Traffic Act, Motor Third Party insurance is mandatory for all vehicles. You must have a valid insurance disc displayed on your vehicle to avoid penalties at police checkpoints.
Q2: Who regulates insurance companies in Zambia?
The industry is regulated by the Pensions and Insurance Authority (PIA). The PIA licenses insurers and protects policyholders’ interests. You should always verify if a company is registered with the PIA before signing a contract.
Q3: What is the difference between ZSIC Life and ZSIC General?
ZSIC (Zambia State Insurance Corporation) was split into two separate entities. ZSIC General focuses on short-term insurance like car and house cover, while ZSIC Life specializes in long-term products like life assurance, pensions, and savings policies.
Q4: Is NAPSA considered an insurance company?
Not exactly. NAPSA (National Pension Scheme Authority) is the government-mandated social security scheme. While it provides financial protection (like a pension), it is different from private insurance companies, where you voluntarily buy policies for cars or health.
Explore further: To discover more insurance providers across the continent, visit:
Zambia Insurance Database: The Complete 2025 Guide