To create value for our stakeholders.


To be the preferred financial services provider.


EXCELLENCE – We are experts in our line of work. We are self-driven, perseverant and disciplined and constantly set personal targets to exceed performance expectations.

INTEGRITY – We are honest, transparent, and committed to doing what is best for our customers, our people and our communities. We have zero tolerance for unethical behaviour in business conduct.

ACCOUNTABILITY– We unconditionally take ownership of our responsibilities, decisions, actions and resultant consequences.

COLLABORATION – We are ONE. Our success is driven by our ability to build relationships, break silos and connect across teams, functions and geographies – Ubuntu is our way.

INNOVATION – We are pioneers. We constantly seek new and better ways to solve problems for our customers, our businesses and our communities.


NICO was established as a short-term insurance company in 1971 and has since grown to a composite financial services Group operating in Malawi and Zambia, with presence in Mozambique and Uganda through its associate company, Sanlam.

As the biggest financial services Group in terms of diversity of products and services offered by its companies, NICO provides comprehensive financial solutions for a range of challenges for the public and private sector as well as individuals from all walks of life.

The business includes solutions in general insurance, life insurance, pension administration, banking, asset management, corporate finance, property solutions and information technology.

NICO was the first company to be listed on the Malawi Stock Exchange in 1996, and has since listed two of its subsidiaries on the stock market –  NBS Bank Plc listed in 2007 and ICON Properties Plc listed in 2019.


NICO Life Insurance Company Ltd
NBS Bank Plc
NICO General Insurance Company Ltd
NICO Insurance (Zambia) Ltd
NICO Asset Managers Ltd
NICO Pensions Service Company
Eris Properties Mw Ltd
NICO Capital Ltd
NICO Technologies Ltd
ICON Properties Plc

We further have investments in other countries within the SADC region through:

Sanlam General Insurance (Uganda)
Sanlam Seguro de Vida Mozambique

Our corporate strategy remains to expand representation and operation in the COMESA region through mergers, partnerships and investments in various businesses in Africa with renowned organizations to offer technical and professional support.

We were the first company to list on the Malawi Stock Exchange in 1996.


Our “One NICO” philosophy drives our business operations to ensure that our clients access comprehensive solutions to all their financial challenges. NICO taps into the products and services provided by our companies to deliver a single, but all encompassing, business solution which saves time and money for our clients.