NicozDiamond Insurance Limited, one of Zimbabwe’s oldest and most respected insurance companies, has marked its 60th anniversary with a grand event at Siyekhaya Estate in Borrowdale, Harare. The celebration, themed “Resilient Since 1965” and “We Owe It All to You,” was attended by top players in the insurance industry, regulatory authorities, and business leaders.
The company, which was founded in 1965, used the event to reflect on its long journey in the insurance industry, marked by major milestones and tough challenges. NicozDiamond has managed to survive through political instability, economic hardship, inflation, currency changes, and new technology, remaining strong and trusted in the Zimbabwean market.
Chairperson of the Insurance and Pensions Commission (IPEC), Mr. Albert Nduna, gave the keynote speech. He praised NicozDiamond for showing strong resilience and staying relevant in a highly competitive industry. Mr. Nduna also recognised the company’s role in supporting the national economy, saying that insurance firms like NicozDiamond help protect livelihoods and rebuild communities after disasters.
Also present at the event was Dr. Grace Muradzikwa, the Insurance Commissioner. Her attendance showed the importance of collaboration between the insurance industry and the regulators. Dr. Muradzikwa highlighted how the insurance sector is key to economic development and encouraged companies to continue working closely with regulators for a stronger and more transparent industry.
Mr. David Nyabadza, who is both the CEO of the General Insurance Cluster and Managing Director of NicozDiamond, gave a powerful speech. He spoke about the company’s growth from its early years to becoming a market leader. Mr. Nyabadza proudly stated that NicozDiamond was the first female-led enterprise to be listed on the Zimbabwe Stock Exchange (ZSE), showing that the company supports gender inclusion and leadership diversity.
In recent years, NicozDiamond has taken steps to grow beyond Zimbabwe. The company now runs Diamond Seguros in Mozambique and owns a stake in United General Insurance in Malawi. These moves are part of its strategy to grow across Southern Africa and become a major insurance provider in the region.
As part of its achievements, NicozDiamond received the ISO 9001:2015 certification in 2024, a respected global quality standard. The process began in 2020 and required serious internal changes and improvements. This certification proves the company’s commitment to high standards, customer service, and reliable processes. It also boosts client confidence and makes the company more competitive locally and internationally.
The company also showed innovation by launching a new solar-powered mobile insurance unit in 2024, called the Diamond Insurance Vehicle (DIV). The DIV allows people in remote or urban areas to access motor insurance and vehicle licensing services right at their doorsteps. With built-in internet and smart systems, the mobile office makes insurance easier and supports the government’s push for digital services and eco-friendly solutions.
Corporate Social Responsibility (CSR) is another area where NicozDiamond is active. In 2023, the company donated books, groceries, and household goods worth US$5,000 to the Midlands Children’s Home, helping 85 orphans and vulnerable children. In addition, through the First Mutual Foundation, NicozDiamond sponsors scholarships for students from low-income families. Currently, six students are receiving full scholarships for four-year university degrees at top African universities.
As the celebrations ended, NicozDiamond made it clear that the 60th anniversary is not just about the past. It is also a moment to commit to the future. The company promised to keep delivering quality insurance services, supporting innovation, and contributing to the development of Zimbabwe and Southern Africa.
NicozDiamond’s journey shows what it means to survive, evolve, and lead. As the company looks forward to more years of service, it continues to focus on growth, people, and progress in the African insurance sector
