Lawrence Sikutwa and Associates Group (LSA Group), a Zambian insurance and financial services group, announced its intention to strengthen its position in Tanzania and in Kenya, Malawi, Zimbabwe and the Democratic Republic of Congo.
Already operating MGen general insurance company in Tanzania, LSA intents to expand in life insurance in this market.
According to the Zambian Daily Mail, LSA Chairperson Lawrence Sikutwa said in a recent interview that since company has been in Tanzania for 6 years, it had “Developed a brand on which other companies can ride on” adding that “Life assurance market is growing and so is the population and this offers a lot of opportunities for us”.
Sikutwa added that the group is also looking for expansion opportunities in the life insurance and microfinance markets in Kenya, Malawi, Zimbabwe and the Democratic Republic of Congo.
LSA was established in 1995 in Zambia and comprises companies such as Madison Assets (MAMco), Madison General, Madison Finance, Madison Life, Madison Investment and the Travel Shop.
Its subsidiary Madison Financial Services PLC (MAFS:LZ) has been listed at the Lusaka Stock Exchange since June 2014.