Lavoro Insurance Namibia Limited says it has been established to offer specialist commercial and corporate insurance, with demand identified in sectors such as mining, oil and gas, renewable energy and agriculture.
The insurer said its entry into the Namibian market brings additional capacity, including the ability to underwrite large and complex risks, while using technology to broaden access to insurance and support financial inclusion.
The comments come as Lavoro officially launched its operations, positioning itself as a locally focused short-term insurer designed to respond to Namibia’s socioeconomic realities.
Speaking at the launch, Managing Director Nghikefwamendu Simon said the company’s products were developed following extensive research into the lived experiences of communities across the country.
“Lavoro Insurance is fully tailored for the Namibian people. Every product has been shaped by a clear understanding of how people live, work and manage risk,” Simon said.
He said the insurer is equipped to take on large risks, a capability often associated with more established players, while also leveraging technology to extend coverage to wider segments of the population.
Simon said Lavoro plans to expand its capacity in commercial and corporate insurance, while building an inclusive ecosystem that allows more Namibians to participate in the insurance sector.
He added that the company is committed to strengthening Namibia’s insurance market and acknowledged the role of regulators, public institutions and stakeholders in maintaining a stable operating environment.
“A strong insurance market depends on strong institutions, clear roles and consistent supervision,” Simon said, adding that locally licensed and governed insurers are essential to protecting policyholders and building market confidence.
The launch marked Lavoro’s formal entry as a NAMFISA-licensed short-term insurer, registered under licence number 25ST33 in terms of the Short Term Insurance Act of 1998. Simon said the licensing framework reflects the company’s commitment to discipline, accountability and high standards.
Also speaking at the event, City & Commercial Insurance Group Executive Director Andrew Selous said the group’s role is to support Lavoro to become a strong, independent and locally rooted insurer.
“Our purpose is to help Lavoro stand on its own feet and succeed as a proudly Namibian insurance company,” Selous said.
He said City & Commercial has operated for 33 years, is active in 103 countries and manages about US$100 million in gross written premiums. The group intends to share international expertise, technical skills and systems, while continuing to learn from the Namibian market.
Selous said the group is supporting Lavoro with governance frameworks, IT capability, risk discipline and access to reinsurance, while ensuring decision-making remains based in Namibia and aligned with local regulations and national priorities.
The partnership, he said, reflects a long-term commitment to building capacity and trust within Namibia’s financial sector.
Selous added that the group’s experience in areas such as surety bonds and credit insurance is expected to support product innovation and market expansion.
British High Commissioner to Namibia Neil Bradley said insurance plays a central role in economic resilience.
“Insurance is not only about managing risk. It enables growth, protects livelihoods and gives businesses and families the confidence to plan,” Bradley said.
He said the partnership between Lavoro and City & Commercial demonstrates the value of combining Namibian and British expertise to support innovation, resilience and deeper financial inclusion in Namibia’s insurance sector.
