ICE Insurance gets go-ahead in Mozambique

Specialist property and casualty commercial insurer, International Commercial and Engineering (ICE) Insurance, has received a license to operate in Mozambique.

The company will specialise in the large commercial insurance classes and will focus on providing capacity and technical expertise to the larger more complex risks.

ICE’s shareholders, Robert and Andrew Lewis, have run insurance operations in the country since 1992 when they registered one of Mozambique’s first private insurers Companhia Geral de Seguros de Moçambique.

The insurer also plans to expand to the Democratic Republic of the Congo and Equatorial Guinea in the next two years and has ambitions to be open in 12 countries in the next ten years.

“The Mozambique insurance sector has developed exponentially in recent years but despite increased competition ICE believe there is a market for an insurer that is focussed purely on technical underwriting,” said ICE.