NicozDiamond Insurance reported modest earnings growth for the financial year ended 31 December 2025, buoyed by diversified investments and tighter operational controls.
The insurer’s contract revenue increased by one percent to ZiG1,1 billion compared to the previous year, as the group expanded its core business lines and secured new clients.
Chief executive David Nyabadza said the insurer’s performance reflected steady growth across key portfolios.
“The business also benefited from enhanced distribution efforts and strengthened client retention initiatives, which contributed to sustained topline momentum,” Nyabadza said.
Profit after tax for the year reached ZiG22,6 million, supported largely by investment income and disciplined cost management.
Nyabadza said the results demonstrated the group’s capacity to remain profitable while continuing to invest in expansion and customer service delivery.
During the period, Thirty Samora Machel posted an investment gain of ZiG6,6 million, complementing the ZiG17 million gain achieved by NicozDiamond.
The company also managed to limit losses linked to higher claims frequency and increased claim values experienced during the year amid portfolio expansion and prevailing economic conditions.
“Despite the rise in claims activity, disciplined underwriting practices and ongoing claims management initiatives helped contain overall loss ratios and supported operational stability,” Nyabadza said.
He added that the insurer remained committed to reinforcing underwriting standards, improving operational efficiencies and advancing customer-focused innovation in order to maintain competitiveness.
Across regional operations, the group’s Mozambique business recorded a three percent rise in insurance contract revenue to MZN312 million, while the Malawi operation achieved a net profit of MWK8,5 billion.
Looking ahead, the insurer said innovation in products and services would remain central to its growth strategy.
“The NicozDiamond group will continue to harness technology and digital transformation to enhance operational efficiency and deliver seamless services to a diverse client base,” Nyabadza said.
He noted that the strategy was designed to strengthen the group’s market position both in Zimbabwe and across regional markets.
“In Zimbabwe’s short-term insurance sector, the group will focus on developing tailored products that address emerging risks and evolving customer needs,” he said.
“Additionally, NicozDiamond will continue to strengthen its distribution channels, including digital platforms to increase market penetration and accessibility across urban and rural communities.” – TML