Mark Mikwamba has been unveiled as Managing Director of Old Mutual Life Assurance Company (OMLAC) replacing Roy Punungwe who has been given another role within the company in South Africa.

This was revealed on Thursday evening during a farewell dinner for Punungwe held at Ryalls Hotel and the function was graced by Old Mutual Malawi Group Chief Executive Officer Edith Jiya and the company’s Board Chair Innocentia Ottober.

In her speech Ottober praised Punungwe’s 5 year stay at the company.

“Roy’s contribution went beyond financial metrics; he championed initiatives that reinforced our corporate values-upholding the principles of ethical leadership, social responsibility, and sustainable future.

“As he steps into his new chapter, we are confident that the strategic frameworks and the capable teams he has fostered will continue to build on the strong foundation he has laid. The path he helped shape will guide OMLAC forward as we continue to adapt, grow, and succeed,” said Ottober.

Concurring with with Ottober’s remarks Jiya said Punungwe has been instrumental in the establishment of Mthunzi Funeral Services.

Roy natured Mthunzi, to become a business it is, to this moment when we are proud that we have opened the biggest funeral service centre in Malawi, precisely in Lilongwe,” said Jiya.

Jiya also said Punungwe was also critical in the advancement of Actuarial Science program at the University of Malawi (UNIMA).

Punungwe has served as OMLAC Managing Director for 5 years. He joined the company in 2019.