History

ZSIC GI was previously a composite insurance company called the Zambia State Insurance Corporation Limited.

Before the liberalization of the insurance industry, the Zambia State Insurance Corporation Limited was the only insurance company in the market, and therefore gained vast experience in transacting both short and long term insurances.

In line with the provisions of the Insurance Act No. 27 of 1997 as amended by Act No. 26 of 2005, the Zambia State Insurance Corporation Limited underwent a restructuring and compliance exercise.

As a result of the restructuring and compliance exercise, the Zambia State Insurance Corporation Limited was split into three separate business entities, namely ZSIC Limited; which was the initial Holding Company, ZSIC General Insurance Company and ZSIC Life Company as subsidiary companies.

In March 2017, IDC assumed the role of the holding company which lead to the dissolution of ZSIC Holdings and maintained the separation of ZSIC General Insurance from ZSIC Life.