ZSIC General Insurance Limited is now 100% owned by government’s Industrial Development Corporation (IDC), after the transfer of all shares, to be followed up by a recapitalisation of the company. ZSIC, currently second in the insurance market, has set a goal of becoming number one by 2018 in terms of market share and net premium retention. Government is in the process of transferring the ownership of all parastatals to IDC. The Zambia State Insurance Corporation (ZSIC) was established in 1968, operating as the only insurance company in Zambia until 1991, and was split into three in 2008, including ZSIC Limited (holding company), ZSIC General Insurance Limited and ZSIC Life Limited.