A published financial statement by Nico Holdings showed an 18% increment in after tax profit in the year ending December 31 2019.

During the year in review, profit jumped to K14.98 billion compared to K12.73 billion recorded in 2018. The growth has been attributed to better and improved performance of the company’s general insurance, banking and asset management, according to the statement co-signed by Nico Group interim Chairperson, Gaffar Hassam and Group Managing Director, Vizenge Kumwenda.

In the statement, the group has celebrated strides made on the insurance company. “The general insurance business registered a % growth in growth written premiums during the year to K32.95 billion for the year ended December 31 2019,” says the statement.