Old Mutual supports insurance quiz

Old Mutual Malawi has committed MK 7 million this year’s insurance quiz hosted by Insurance Institute of Malawi (IIM).

Kapesa (L) receives the cheque from Punungwe.

Aside from that, the event will also be held around the Old Mutual premises in Blantyre.

The hosting of the event coincides with a concern of a dismal penetration by people into the industry.

Speaking to MIJ Online, Old Mutual Life Assurance Company Managing Director Roy Punungwe said at the moment, there is need for concerted efforts to amplify the importance of insurance, whose penetration stands at 2.5%.

Punungwe said that is why Old Mutual is supporting the event which he argues holds a potential of enhancing knowledge about the sector.

On his part, Hastings Kapesa, Insurance Institute of Malawi Chairperson said the support will go a long way in ensuring that the event runs smoothly.

He said among other things, they will have teams from insurance companies and students pursing insurance related studies.

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