The National Insurance Company of Zimbabwe (NICOZ) was formerly known as NEM before its acquisition by ZIMRE in 1988. Pearl General Insurance Company (Private) Limited was incorporated in 1979, before changing its name to Diamond Insurance company in 1994 when Pearl Assurance Plc of the United Kingdom sold its business interests in Zimbabwe.
The merger of Nicoz and Diamond became effective as at 1 January 2002 resulting in the creation of Zimbabwe’s largest short term insurance conglomerate. NicozDiamond became a fully listed entity on the Zimbabwe Stock Exchange on the 28th of October in 2002.
NicozDiamond became a fully listed entity on the Zimbabwe Stock Exchange on the 28th of October in 2002. In 2009, NicozDiamond became the only short-term insurance company listed on the Zimbabwe Stock Exchange (ZSE). This listing reflects our commitment to uphold best corporate governance principles of accountability, integrity, fairness, responsibility and transparency
Global Credit Rating
The company has consistently achieved a high rating for claims paying ability under the auspices of the Global Credit Rating Company of South Africa. As one of the leading short term insurers in Zimbabwe, NicozDiamond strives to maintain and exceed such a sterling level of excellence which can be attributed to our unique human resources who drive the overall performance of the company. Currently NicozDiamond holds an A-rating.
NicozDiamond prides itself in being an ISO certified short term insurance company in Zimbabwe, having attained such certification in 2006.
As a way of diversifying its portfolio and adding value to shareholding, NicozDiamond has equity participation in the following unquoted companies in Zimbabwe.
Another contributing factor in NicozDiamond’s success is a good branch distribution network. Our head office is in Harare, and we have branches in Bulawayo, Mutare, Gweru, Masvingo, Chinhoyi and Beitbridge, NicozDiamond provides nationwide coverage to a multitude of stakeholders.