Madison Insurance

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[Originally posted by Dennis Kapata - Group Public Relations Manager, LSA Group of Companies, on Sat Jul 24, 2010 7:49 am]

I write to respond to an article posted on your website by “Bamwine” of which the complaints contained therein on “Madison Insurance” have been noted.

At the outset, I want to point out that the LSA Group has two insurance companies namely:

1. Madison General Insurance Company Limited (MGen)

2. Madison Life Insurance Company Limited (MLife)

We also have Madison Health Solutions Ltd which is the marketing wing of MLife for health insurance and global travel insurance products.

Second, I would like to thank “Bamwine” for making the complaint and to take the opportunity to encourage all policy holders who have a complaint to write to me on the following address in order to ensure that their complaints are dealt with and resolved within the shortest possible time:

Dennis Kapata

Group Public Relations Manager

LSA Group of Companies

316 Independence Avenue

P.O. Box 37013

Lusaka

Tel:+260 211 257151/2/4

Fax: +260 211 255075

E-mail: dkapata@lsa.co.zm

We recognize that unless our valued clients voice out their complaints we shall not be able to improve the quality of our products and services and hence our gratitude to “Bamwine” that he or she took the opportunity to complain.

I also wish to assure all our policyholders that our Group Executive Chairman Mr Lawrence Sikutwa takes a keen interest in all complaints against any of the Group companies and will be fully involved in ensuring that there is a satisfactory resolution of the complaints made.

For the benefit of our policy holders, I take this opportunity to inform you of the structure of our Group.

Our structure is such that each subsidiary company has a separate Managing Director who reports to a Board of Directors of that company. These boards have independent persons in the majority. As far as possible, the chairmen of the separate Group Companies are independent persons. In fact all the chairmen of the financial services companies including MGen and MLife are independent persons.

Therefore, complainants are also free to write to the chairpersons and managing directors of the insurance companies, Madison General Insurance Company Zambia Limited (MGen) and Madison Life Insurance Company Zambia Limited (MLife) and state his name or name of scheme and policy number and the nature of their complaint.

Complaints may also be directed to the Group Executive Chairman Mr Lawrence Sikutwa. Complaints can also be directed to the Pensions and Insurance Authority (PIA) who have the responsibility of protecting the interests of all policyholders.

The top management structures of the insurance companies are as follows:

Madison General Insurance Company Zambia Limited:

Chairman of the Board of Directors - Mr David Phiri (Independent person).
Managing Director - Mr Chabala Lumbwe.

Madison Life Insurance Company Zambia Limited (MLife):

Chairman of the Board of Directors - Mr Abel Mkandawire (Independent person)
Managing Director - Mrs Agnes Chakonta

The Madison Pension Trust Fund is headed by Mr Ken Muhanga who is also an independent person.
Meanwhile, readers may be interested to know that the shareholders of LSA Ltd are: The W.B. Fyfe Estate, Mr Rhoydie Chisanga and Mr Lawrence S. Sikutwa. Policyholders can also complain to them.

In ending, I wish to assure “Bamwine” that the Group Chairman has immediately started looking at the complaints raised in the article for immediate resolution and you are welcome to visit any of our offices at your convenience.

Thank you for writing.

Dennis Kapata - Group Public Relations Manager, LSA Group of Companies