Insurance Institute of Malawi (IIM) President Hastings Kapesa has unveiled a 5 year strategic plan as he takes over the Presidency in style.

Kapesa, who works as a Technical Manager at Reunion Insurance Company Limited unveiled the plan during IIM Annual Charter Dinner held on Saturday evening at Mount Soche Hotel in Blantyre.

In the strategic plan, Kapesa during his tenure of office has promised to purchase a land where state of the art two story IIM college will be built.

“I feel that the present from where IIM operates need to be aligned with our vision that we are all sharing of “Promoting Comforting environment.” We need spacious premises which will enable us to expand our operations to include future developments leading into real center for the professional development of the entire industry.

“By God’s grace, I will do everything possible during my term of office to move towards the development of the center for insurance professional development. I trust thus how best we can perfect the mandate of the IIM,” said Kapesa.

Kapesa has also promised to revive all IIM activities which were suspended due to COVID-19 pandemic which has claimed lives of over 2,000 Malawians including two Cabinet Ministers.

He has also promised to introduce academic attire for IIM graduates.

On his part, Press Corporation Limited PLC Acting Group Chief Executive Officer Lyton Chithambo who was the guest of honour at the event urged Insurance companies in the country to act professionally.

Chithambo also bemoaned low insurance penetration in the country.

“When you look at our country, most of the population is uneducated and most businesses are informal.

“If you operate in that environment and you do not want to take risks and make innovative products, then the majority of people will remain uninsured,” said Chithambo.