Barclays and its subsidiary Absa group have jointly launched Barclays Life Zambia Ltd in a bid to offer life insurance services to Zambian clients
The Zambian facility will offer credit life protection on loans, hospital cash plans, funeral cover and a standalone Family Protection Plan, said the Johannesburg-based Absa in a statement.
Absa chief executive officer Maria Ramos said, “The business will provide quality customer service that Barclays Zambia clients have already become accustomed to. We will build on our experiences in the market as well as comments that we have received from our clients.
“The Zambian regulatory environment and soundness of the country’s economic profile, with increasing levels of economic activity, requires increased services to protect the customers,” she added.
This launch has followed a similar African venture that took place in Botswana where Absa started a life insurance operation in March 2011. The company had also acquired a 100 per cent of the share capital of Global Alliance Seguros, a leading insurance business in Mozambique, in September 2011.
