INSURANCE PRICING SET TO REDUCE – BARCLAYS LIFE

Barclays Life, a new entrant onto the Zambian insurance market, has promised a 30 per cent cut down on indemnity rates.

Meanwhile, the country’s Finance Minister, Alexander Chikwanda says Zambia offers exciting prospects for business growth because of good economic policies.

Barclays life, a creation of ABSA financial Services, which is a Barclays Group subsidiary, has recently been launched in the capital, Lusaka.

And Barclays Bank Managing Director, Savior Chibiya says the launch of Barclays life will see significant reductions in the pricing of insurance products.

Meanwhile, ABSA Chief executive, Maria Ramos says Zambia rapid economic growth requires the development of insurance services to protect people's investments.

Speaking at the launch, Mr Chikwanda, pledged, through Ministry of Finance Acting Director of Finance, Fortune Kamusaki, a stable economy, coupled with timely cushioning against adverse global economic effects.