NicozDiamond marks 60 years of resilience and excellence

ROBIN PHIRI

NicozDiamond Insurance Limited has commemorated its 60th anniversary with a landmark celebration that honoured six decades of resilience, innovation, and leadership in Zimbabwe’s insurance industry and the broader regional market.

Held at Siyekhaya Estate in Borrowdale, Harare, the Diamond Jubilee event was themed “Resilient Since 1965” and “We Owe It All to You,” reflecting the company’s enduring legacy and its gratitude to employees, clients, partners, and stakeholders whose steadfast support has powered its journey.

Founded in 1965, during one of the most tumultuous periods in Zimbabwe’s history, NicozDiamond has navigated political transitions, economic volatility, and technological disruptions to emerge as one of the country’s leading short-term insurers.

In his keynote address, Albert Nduna, Chairperson of the Insurance and Pensions Commission (IPEC), praised NicozDiamond’s contribution to the industry and its resilience through decades of change.

“When Pearl Insurance was established in 1965, it laid a foundation of trust and professionalism in the midst of a turbulent political climate. Since then, through bold decisions like the 2002 merger of NICOZ and Diamond Insurance, the company has grown stronger, more innovative, and more influential,” Mr. Nduna said.

He also acknowledged the company’s broader national role beyond insurance.

“NicozDiamond has not only restored financial security to thousands of policyholders but has also contributed to national development through job creation, corporate social responsibility, and long-term investment in the economy.”

The event was also attended by Dr. Grace Muradzikwa, Commissioner of Insurance, alongside other dignitaries from Zimbabwe’s financial services sector.

Speaking at the celebration, David Nyabadza, CEO of the General Insurance Cluster and Managing Director of NicozDiamond, reflected on the significance of time in shaping a legacy.

“Time is humanity’s most precious and irreplaceable resource. Unlike money, which can be regained, time lost is gone forever. This celebration is the result of time well invested—60 years of learning, adapting, and delivering value.”

He added:

“This is not merely a reflection on the past—it is a bold step into the future. Our journey is powered by people, and our commitment to excellence will continue to define our next chapter.”

Over the decades, NicozDiamond has established itself as a trusted name in short-term insurance. It has earned numerous accolades, including recognition as a Top Short-Term Insurance Provider and Top Customer Experience Company. Its ISO certification is a testament to the company’s focus on quality and continuous improvement.

The insurer maintains an A+ rating from the Global Credit Rating Company (GCR) of South Africa, underlining its financial stability, technical depth, and market strength.

While rooted in Zimbabwe, NicozDiamond has steadily expanded its footprint across the region. It operates Diamond Seguros in Mozambique and holds a strategic stake in United General Insurance in Malawi. These regional operations reinforce its ambitions for greater continental presence.

The company also made history as the first female-led enterprise to list on the Zimbabwe Stock Exchange (ZSE), demonstrating its commitment to inclusive leadership.

NicozDiamond continues to invest in modern, customer-centric solutions to meet the evolving needs of today’s insurance consumers. Its innovation efforts include:

• Alternative distribution channels to improve accessibility
• Strategic partnerships with fintechs and digital platforms
• Tailored insurance solutions designed for a changing demographic
• Digitisation of claims and service processes to improve efficiency

As part of its corporate social responsibility agenda, NicozDiamond actively supports community development initiatives. These include partnerships with non-profit organisations focused on health, education, and social impact. Its philanthropic work underscores a commitment to making insurance meaningful beyond profit.

As it celebrates this historic milestone, NicozDiamond remains committed to driving growth, fostering innovation, and delivering value for future generations. The company reaffirmed its promise to shape the future of insurance not only in Zimbabwe but across the region.

“Our journey is built on the strength of our people, the trust of our clients, and the vision of our leaders,” the company noted in a statement. “As we honour 60 years of service, we look to the future with renewed purpose.”