Shareholders

NICO Insurance Zambia Limited is a 100% subsidiary of NICO Holdings Limited, a company owned by:

·  Africap LLC, USA

·  International Finance Corporation (IFC), USA

·  Santam Limited, South Africa

·  Millennium Holdings Limited, Malawi

·  Millennium Investments Limited, Malawi

·  The Public / Malawi Stock Exchange, Malawi

·  NICO Employees Share Ownership Trust (ESOP),  Malawi & Foreign Subsidiaries