MILESTONES
NICO Group reaches a milestone of 50 years
NICO has been offering financial services for over 50 years. 50 years of honoring our commitment to clients. 50 years of pioneering various watershed projects in the country.
Below are some of the key milestones throughout the 50 years journey.
1971
National Insurance Company opened its doors for operations
1996
NICO was listed on the Malawi Stock Exchange
1997
NICO extended its operations to Zambia by establishing NICO Insurance Zambia
2002
National Insurance Company restructured to establish:
NICO Holdings Plc
NICO General Insurance Limited
NICO Life Insurance Limited
NICO Technologies Limited
2003
NBS Bank Plc was established with NICO acquiring majority shareholding
2011
Sanlam Partnership with NICO Life Insurance Limited
2017
Eris Properties Mw Limited established
NICO Pension was established as a stand-alone company
2021
NICO Capital Limited started its operations as a stand-alone company
| Year | Milestone |
| 1971 | National Insurance Company opened its doors for operations |
| 1996 | NICO was listed on the Malawi Stock Exchange |
| 1997 | NICO extended its operations to Zambia by establishing NICO Insurance Zambia |
| 2001 | Chichiri Shopping Centre was built (with NICO as the majority shareholder) |
| 2002 | National Insurance Company restructured to establish NICO Holdings Plc |
| 2002 | NICO General Insurance Limited was established |
| 2002 | NICO Life Insurance Limited was established |
| 2002 | NICO Technologies Limited was established |
| 2003 | NBS Bank Plc was established with NICO acquiring majority shares (from the then Bew Building Society established in 1964 as a mortgage financing society) |
| 2005 | NICO Insurance Tanzania was established (now Sanlam Tanzania) |
| 2007 | NBS Bank Plc was listed on Malawi Stock Exchange |
| 2009 | NICO Asset Managers Limited was established |
| 2010 | Lilongwe City Mall was opened |
| 2011 | Sanlam Partnership with NICO Life Insurance Limited |
| 2011 | NICO celebrated its 40th Anniversary |
| 2013 | Sanlam partnership with NICO general businesses |
| 2017 | Eris Properties Mw Limited established |
| 2017 | NBS Bank Plc Rights Issue |
| 2017 | NICO Pension Services Limited started its operations as a stand-alone company |
| 2019 | Listing of ICON Properties Plc |
| 2021 | NICO celebrated its 50th anniversary |
| 2021 | NICO Capital Limited started its operations as a stand-alone company |