The Insurance Brokers Association of Malawi (IBAM) has collaborated with other players in the industry to establish an insurance council that can unify the industry and improve insurance business in the country. IBAM's president, Clement Ndala, believes that this council will help to engage with the government and other stakeholders to promote economic development. Meanwhile, NICO General has announced its plans to focus on digital channels in 2023 after seeing an income growth of 21 percent and a profit increase of 29 percent in 2022. The company engaged with agents and brokers, acknowledging their contributions to its success.
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