Overview

Name: LifeCo Holdings Limited (LifeCo)

Industry: Financial services, specializing in life insurance, pensions, and asset management

Headquarters / Location: Malawi

Website: lifeco.mw

Ownership & Structure

LifeCo is a holding company created to operate across life insurance, pensions, and asset management in Malawi.

The founding shareholding structure was:
  • Press Corporation plc: ~49.5%
  • Equity Investments: ~25.5%
  • Fidelity Limited: ~25.5%

LifeCo operates through three subsidiaries:
  1. LifeCo Life Insurance Limited
  2. LifeCo Pension Services Limited
  3. LifeCo Asset Managers Limited

All three subsidiaries are licensed by the Reserve Bank of Malawi to operate in their respective sectors.

Products & Services

LifeCo offers a range of financial services through its subsidiaries:

Category Key Products / Services
Life Insurance / Risk Cover Life insurance, funeral cover, critical illness, accident insurance, group life, group credit, mortgage cover
Pension / Retirement Services Pension administration, annuity fund management
Asset Management Investment and fund management services
Leadership & Key Personnel

Group Chief Executive Officer: Ravi Savjani

CEO, LifeCo Life Insurance & Pensions: Osman Karim

CEO, LifeCo Asset Managers: Lilian Yamikani Macheso

Chairman: George Partridge (also CEO of Press Corporation plc)

Market Position & Strategy

LifeCo was created to fill gaps in the Malawian market for life insurance, pensions, and investment products.

It aims to bring competition to a market historically dominated by a small number of players.

The company is targeting growth opportunities in a country where insurance penetration remains relatively low.

Challenges & Opportunities

Building trust as a new player in the insurance and financial services sector.

Maintaining strong regulatory compliance across insurance, pensions, and asset management.

Leveraging synergies among its subsidiaries to improve efficiency and competitiveness.

Differentiating through service quality, innovative products, and competitive pricing to gain market share.