CORPORATE PROFILE

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About UsUltimate Insurance Company Limited; is a Zambian wholly owned non-life Insurance Company, duly licensed by the Pensions and Insurance Authority (PIA).

From its headquarters in Rhodespark, Lusaka; UICL provides short term insurance products and services to individual, commercial, and corporate customers in Zambia and regionally.

Since its inception, Ultimate Insurance Company Limited seeks to maintain the position of being the preferred insurance company in Zambia.

Through the company’s extensive technical expertise and a strong team of board of Directors, UICL will consistently deliver quality and innovative insurance risk services to its customers through all viable distribution channels.

Sustainability and social responsibility is a core focus for Ultimate Insurance Company Limited and the company will continue to grow its contribution to the dynamic socioeconomic transformation of Zambia, consistently focusing on encouraging economic growth.

Our Mission

To have long term relationships with our customers, partnering with them in meeting their core insurance needs through the provision of exceptional smart risk solutions to all stakeholders.

Our Vision

To be the “most admired and trusted insurer “in the eyes of our customers, employees, and shareholders.

OurCorporate

Values

Accountability

IntegrityCommitment

Respect People-centric

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S H A R E H O L D E R S

B O A R D O F D I R E C T O R S

Marshland ConsortiumMarshland Consortium Limited, established in 2018, is an investment Company which is owned by young insurance professionals and entrepreneurs. The core businesses of this investment vehicle are to investment and grow businesses in finance, insurance, agriculture and real estate. The Consortium holds 65% shares in Ultimate Insurance Company Ltd.

Felicitas Kabwe ChibambaMs Felicitas Kabwe Chibamba is an avid investor and entrepreneur with a broad investment portfolio. She has investments in real estate, construction, finance and diverse investments portfolio on the stock exchange and money markets. She holds 35% shares in Ultimate Insurance Company Ltd.

Luke Lubemba Non Executive DirectorMr. Luke Chisenga Lubemba is a seasoned trainer in Heavy Equipment Repair HER/ Auto mechanics and entrepreneurship with practicing experience spanning over a period of 25 years. He holds a technical teachers Diploma-UNZA, Advanced Technicians certificate in HER, Training Management certificate- Aarhus Denmark, city & guilds Technician certificate in Automotive and underwent entrepreneurship study tour in South Africa, Kenya and Nepal. He has taught and practiced HER/Auto mechanics in the civil service as well as the private sector. He has conducted entrepreneurship trainings to various Women’s and youth organizations on the Copperbelt and has done extensive teaching and consultant training with institutions such as NORTEC, Zambia sugar, Lumwana Mines, HITACHI and Industrial Training Centre as his most recent posting.

Wilson Musonda Non Executive DirectorA dedicated and seasoned procurement professional with a demonstrated history of working in finance. He is a fully qualified procurement professional from the Chartered Institute of Purchasing and Supply (CIPS) UK. Holding the Member Chartered Institute of Purchasing and Supply membership (MCIP) level since 1991. His work experience spans from having worked for the Ministry of Finance, and heading the Procurement and Supplies Unit at Ndola City Council. He has served and continues to on several board committees in both private and public companies including Mukuba Hotel – Committee Member (2011-2013) and Tropical Disease Research Centre – Tender Committee (2010-to date).

Innocent Sinzala Non Executive DirectorMr. Innocent Sinzala is a Zambian Businessman, the founding Shareholder and Director of ISIN Holdings, Four Pillars Lodge Ltd and Kruger Electronics Ltd. He is an experienced electrical and electronic engineer having worked for ZCCM Konkola Division in 1994 and the Zambia Telecommunication Company Ltd (Zamtel) from 1995 to 2005. He holds an MBA from Oxford Brooks University (2004) and a Bachelor Of Engineering – Electrical 1995 from the University of Zambia.

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Felicitas Kabwe Chibamba Executive Director (Finance)Ms Felicitas Kabwe Chibamba is a seasoned Economist. Her work experience spans from having worked for Zambia National Oil Company in 1999 and United Nations World Food Program from 2002 to 2012. She served on the ZESCO Board of Directors in 2016. Currently, she is serving as a Board Member on the WARMA Board of Directors. She holds a Bachelor of Commerce in Economics and Accounts Degree and an Honours Degree in Economics from the University Of Port Elizabeth.

Tobias H Milambo Executive Director (Managing) Tobias H Milambo is a Zambian Businessman and seasoned insurance practitioner. He is founding Managing Director of Diamond General Insurance and Meanwood General Insurance. He started his insurance career is 1999 as an Assistant Underwriter Property and Casualty at Madison General Insurance; and then joined Goldman Insurance in 2004, where he rose to the position of General Manager Corporate Services. He is a Chartered Insurer with an Advance Diploma (ACII) from CII UK. He holds a BSc in Production Management degree from the Copperbelt University.

Tobias H Milambo Managing DirectorTobias H Milambo is a Zambian Businessman and seasoned insurance practitioner. He is founding Managing Director of Diamond General Insurance and Meanwood General Insurance. He is also a Founding Shareholder and Director of Lushomo Filling Station, Lushomo Supermarket and Chikuni Farms. He started his insurance career is 1999 as an Assistant Underwriter Property and Casualty at Madison General Insurance; and then joined Goldman Insurance in 2004, where he rose to the position of General Manager Corporate Services. He is a Chartered Insurer with an Advance Diploma (ACII) from CII UK. He holds a BSc in Production Management degree from the Copperbelt University.

Felicitas Kabwe Chibamba General Manager Finance & AdministrationMrs Felicitas Chibamba – is a seasoned Economist. Her work experience spans from having worked for Zambia National Oil Company in 1999 and United Nations World Food Program from 2002 to 2012. She served on the ZESCO Board of Directors in 2016. Currently, she is serving as a Board Member on the WARMA Board of Directors. She holds a Bachelor of Commerce in Economics and Accounts Degree and an Honours Degree in Economics from the University Of Port Elizabeth.

Nachi Musonda General Manager Corporate ServicesA YALI Regional Leadership (UNISA) Alumnus with a demonstrated history of working in financial services with particular focus on the insurance industry. Skilled in both insurance underwriting and insurance brokerage, including business development, risk management, and overall business management. Nachi currently heads the Business Development (sales and marketing) and Claim Management roles at Ultimate Insurance Company, and is responsible for the overall sales and claims performance of the firm. Nachi is a graduate of the University of Zambia (BA.PA) and has several other professional qualifications including the Diploma in Insurance from the Chartered Insurance Institute – CII UK, Award in Bancassurance from CII (UK), the Insurance Competence Certificate, and the Investment Advisors and Stock Brokers Course from the Zambia College of Pensions and Insurance Trust – ZCPIT. Nachi is also an Associate of the Chartered Institute of Arbitrators UK (ACIArb).

M A N A G E M E N T T E A M

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Richard Lubemba General Manager TechnicalRichard Lubemba is a seasoned and recognized insurer with a drive and an attitude for making things possible. He has deep experience of leading successful teams of professionals in complex technical areas such as underwriting and reinsurance. Richard is responsible for the overall underwriting direction of the company. His commercial risk appetite is key for the company.He has primary day-to-day responsibility for the underwriting appetite and risk acceptance of the company, including reinsurance. He has held various positions in the insurance industry; in 2014 he became the first Branch Manager-Lusaka for Meanwood General Insurance, and by 2015 he rose to the position of Regional Manager-South in charge of the Southern Region; a regional that was responsible for writing over 70% of the firms business. Richard holds a Diploma in Insurance from the Zambia College of Pensions and Insurance Trust – ZCPIT formerly ZIBCT.

Maybin Silavwe Finance ManagerWith Academic qualifications in ACCA, ZICA, Marketing and MBA in Business and Finance, SilavweMaybin has eighteen years’ work in Finance and Operations Management of which twelve years are in supervisory at management level. He has worked as Finance and Administrative Manager at POSTDOTNET Zambia Ltd, Financial Accountant and Administration Manager at Spar Crossroad Zambia Ltd and Finance and Administration Manager at MICA Arcades Ltd among others. Maybin has acquired vast knowledge and experience in management of financial system, financial analysis, credit and risk management, auditing, taxation planning and coordinating organization operations among others.

Our business focus is to look for well managed risks in the industry to join a pool of like-minded owners: Clients who have a common interest in controlling the risks that the face. Our broad business strategy will be guided by the following strategies:• Focused on underwriting profit and quality, long-term relationships, not market share• Write a well-diversified book of business by:

• Type • Product • Class • Geography

• Highly technical underwriting approach: • Selective risk-taking • Transparent and adequate pricing

• Proactive and robust cycle management: • Consistent pricing throughout the cycle • Gross for net underwriting

• Solution oriented: • Work with our clients to find solutions

U N D E R W R I T I N G P H I L O S O P H Y

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In doing this we shall be: -

Customer focused

Customer/broker friendly

Committed to ensuring efficiency in our operating systems engaging latest information technology

Committed to observing high ethical standards in our business practices with transparency

Committed to providing innovative value added services to our clients

Committed to growth and profitability

Committed to satisfactory returns to our shareholders

Products & Services

Engineering Insurances

Fire Insurances

All types of Motor Insurances

Business Interuption Insurances

Money

Fidelity Guarantee

Marine and Goods in Transit

Plant All Risk

Employer Liability

Surety Bonds

Contractors All Risk

Public Liability

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R E I N S U R A N C E S E C U R I T Y

We have excellent re insurance treaty arrangement for our clients assets to cover any size and magnitude of the risk exposure. Our panel of re insurers is given below:-

Africa Re

Prima Re

East Africa Re

Kenya Re

In addition to the above, if there is a need we could also deal and place the risk with Munich re / Swiss re / Lloyds Bank and GIC-re through our treaty leader and the re insurance broker JB Boda Reinsurance Brokers PVT Ltd.

HEAD OFFICENAPSA Staff Pensions Office

Plot No. 40, Bwinjimfumu RoadRhodespark, Lusaka - ZAMBIA

Tel: +260 211 267841-2Email: info@ultimateinsurance.co.zm

NAKONDE MOBILE OFFICETel: +260 950 471169 | 0968 260680

+260 977 351881 | 0967 351881

www.ultimateinsurance.co.zm

Fire Products Motor Policies

Guarantees/Bond Policies Employer Liability

Engineering PoliciesBusiness InterruptionPolicies

Marine Policies Money