To be Zambia's leading Insurer of world class standards in innovation, service, market share and profitability.

• To provide a consistent quality service in the market.
• To respond to challenges of tomorrow today.
• To perform through a team of enthusiastic, dedicated, motivated and appreciated people.

Mlife's business focus is "Protecting People All the Way" from birth till death from the impact of possible loss of income through

• Death
• Sickness
• Disablement
• Unemployment
• Old age

The Board of Directors is made up of the following:

• Chairman - Mr. Abel Mkandawire | Occupation: Business Consultant
• Director - Mr. Basil Nundwe | Occupation: Venture Capital Fund Manager
• Director - Mr. Mark S O'Donnell | Occupation: Company
• Director - Mr Alfred J Lungu | Occupation: Advocate, Arbitrator
• Director - Mr Chiteba Chansa | Occupation: Chartered Accountant
• Director - Mr Masautso Enock Nyanthando | Occupation: HR Consultant
• Director - Ms. Enala F.S. Lombe | Occupation: Underwriter Non-Motor
• Mrs Agnes - N. Chakonta – Managing Director

The Management is made up of the following:

• Mrs Agnes N. Chakonta – Managing Director
• Mr Taurai Ndoro - General Manager Technical & Operations
• Mr Denson Lunga - General Manager – Sales & Marketing
• Mr Patrick Mumba - Deputy General Manager – Corporate Business
• Mr Lancelot Kaseele - Life Manager
• Mr Ellison Munyenyembe - Chief Financial Officer
• Mr. Henry Ponya – Manager - Corporate Business

Madison Life Insurance Company Zambia Limited is a tested and holistically successful specialist life insurance company underwriting personal life insurance policies, group life insurance policies, credit life insurance policies, Funeral Expenses Insurance policies plus numerous Individual Life Assurance policies and corporate pension plans of all classes designed to suit specific client needs.

The management team possess tested and proven multi skills of international calibre necessary to design and service Group and Personal life assurance policies and corporate pension schemes of World class standard.

The operations of the Company are undertaken in the following departments:

• Group Life Assurance Department
• Credit Life Assurance Department
• Group Pensions Department
• Individual Life Production Department
• Individual Life Administration
• Department
• Diaspora Funeral Cash Plan

The management team is widely connected in the international insurance and reinsurance markets.

Underwriting

MLife has brought together an excellent management and underwriting team that is well respected in the international and local insurance market. Their combined skills in management and insurance underwriting, coupled with the Company's high standard of service and excellent reputation for prompt settlement of claims have given the Company a leading place in the Zambian Life insurance and group pension market.

It is MLife's policy to continue to be prudent in underwriting all risks presented before us, bearing in mind the need to always observe professional standards and World class service delivery designed to exceed client expectations.

Claims Settlement Service

We always maintain adequate liquidity within the investment programme to meet day-to-day claim settlement obligations.

Claims are settled within three working days upon receipt of all the required claim supporting documents where premiums have been paid within the agreed parameters.

Madison Life Insurance Company Zambia Limited's primary security is its reinsurance programme.

The following is the current panel of reinsurers on our treaties:

• Hannover Re
• Baobab Re (formerly Zimre)
• Africa Re
• PTA Re
• Kenya Re

Madison Life Insurance Company Zambia Limited reinsurance treaty programme is based on prudent management principles. The treaties are a mixture of proportional and excess of loss arrangements to take into account the growth needs of our business.

Catastrophe events are protected by catastrophe treaties and business outside the treaty programme is placed on facultative basis.

MLife takes pride in underwriting Diaspora Funeral Cash Plan based on the following reasons:-

• Madison Life Insurance Company is a specialized Life Insurance company which underwrites individual and Group Life business as its speciality.
• The company has been underwriting individual and Group Life since 1992, with a team of well trained and qualified staff.
• The company has remained solvent from inception to date as assessed by Independent Actuaries (QED Consulting Actuaries of South Africa).
• The company since then has been rated as one of the best insurance companies in the country.
• Madison Life Insurance Company Zambia Limited has a company policy of settling fully documented claims within 3 days.
• The company has good reinsurance support.
• The company has always complied with capital requirements as set out by the Ministry of Finance through PIA.
• Good corporate governance through the Board of Directors and their sub committees i.e Audit committee and investment committee which meet quarterly to review the going concern of the entity.
• MLife undergoes annual audit reviews by internal Audit Department and also annual external audit by external Auditors.
• MLife product design and determination of policy/product conditions are scientifically done in consultation with a firm of professional independent Actuaries for long term profitability and long term security of the Insurer which process is further subjected to approval by PIA.
• The company operates in compliance with the law of the land

Group Life Assurance Schemes

• Bank of Zambia
• Stanbic Bank Zambia Ltd
• Public Service Pensions Fund
• Ndola Lime Company Ltd
• Lafarge Cement Zambia Plc
• Tazama Pipelines Limited
• Zambia Sugar Plc
• Royal Norwegian Embassy
• Citibank Zambia
• Atlas Copco Zambia
• MTN Zambia
• National Breweries Plc
• Investrust Bank Plc

Group Funeral Expenses Insurance Policy

• Stanbic Bank Zambia Ltd
• Buyantashi Open Community School
• Orica Mining
• Afgric Corporation
• Barloworld