RESERVE BANK OF MALAWI ENFORCEMENT ACTION AGAINST SWIFT INSURANCE BROKERS LIMITED

Members of the general public are hereby informed that, with effect from 9
January 2013, Swift Insurance Brokers and Consulting Limited (Swift) is no longer a licensed financial institution and has been removed from the Register of Financial Institutions. This decision has been made due to contravention of provisions of the Insurance Act, regarding operating requirements for insurance brokers. As such, members of the general public are advised that Swift can no longer transact insurance brokerage business.
In this regard, the Registrar would like to assure policyholders whose policies were arranged through Swift that their policies will not be affected by this decision. However, policyholders with outstanding premiums are urged to immediately contact their respective insurance companies to settle their dues.
Finally, the Registrar would like to caution and remind the general public to deal with only licensed insurance intermediaries when conducting insurance business.

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For further information, contact: The Director, Pension and Insurance
Supervision Department, PO Box 565 Blantyre. Telephone: + 265 (0) 1 820 444.

Charles S R Chuka REGISTRAR OF FINANCIAL INSTITUTIONS
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