Libinga urges insurance companies to enhance public financial accountability

By Staff Reporter

Pensions and Insurance Authority (PIA) Registrar Martin Libinga has told insurance companies in the country to produce annual financial reports in order to spur confidence in the people.

And Libinga has urged insurance companies to capture more people without insurance covers.

Speaking at the launch of the 2018 annual report for Professional Insurance, Libinga lamented that a number of people in the country still remained without insurance covers.

“There is need for insurance companies in the country to come up with various strategies that will help people in the country to appreciate insurance,” he said.

He said that every industry is set up in an economy in order to contribute to the Gross Domestic Product (GDP) and make the country’s economy better.

And Professional Insurance Managing Director Moses Siame said the year under review, the company leveraged and refined processes to adapt to the fast charging needs of customers.

Siame said that his company had also continued to invest in the development of its staff in an effort to sustain and strengthen technical excellence.