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THE Pensions and Insurance Authority (PIA) says the pensions and insurance sector continues to demonstrate resilience and growth in 2025, with net asset value reportedly rising to K25.61 billion from K23.78 billion as at September 30, 2025.
The authority attributed the growth largely to favourable investment performance, particularly from listed equities.
Speaking during the end-of-year media engagement on Tuesday at Taj Pamodzi hotel in Lusaka, PIA Registrar, Namakau Ntini, said the industry continues to contribute significantly to Zambia’s economy through investments in government securities, infrastructure development and equities.
She disclosed that total contributions increased to K745.12 million in the third quarter from K738.04 million in the second quarter, representing a rise of K7.07 million.
“The increase in total contributions income was mainly attributed to a rise in participating employers under multi-employer pension schemes,” Ntini said.
She further noted that total benefits paid rose to K738.41 million in the third quarter from K692.37 million in the second quarter.
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Membership also increased to 172,952 in the third quarter from 168,043 in the previous quarter, driven by growth in active members under multi-employer schemes. Of the total membership, 130,436 were male and 42,516 were female.
Ntini said the insurance sector recorded steady growth, with third-quarter results showing a 13.1 percent increase in gross written premium (GWP), rising from K7 billion last year to K8 billion as at September 2025.
She added that industry GWP was expected to close the year at over K10 billion, driven by increased uptake of insurance products such as motor, accident and property insurance.
The sector also recorded a rise in policyholder benefits and claims expenses, which increased to K2.5 billion by the end of the third quarter from K1.9 billion during the same period last year.
In terms of assets, the industry’s asset base grew to K12 billion from K10 billion over the same period.
“As we close 2025 and mark our 20th anniversary, we look to the future with confidence. Our renewed brand identity reflects our evolution, and our growing sector provides a platform for greater impact,” Ntini said.
She noted that the path ahead involved strengthening supervisory focus on emerging risks such as climate exposure and alternative investments, promoting the development of resilience markets like cyber insurance, and creating space for innovation through regulatory sandboxes.
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