Overview & positioning
Chartered Insurance Brokers is a Botswana-based insurance broker offering both short-term (non-life) and long-term (life, fund, and asset management) services. It is recognized as one of the largest citizen-owned insurance brokers in the country, emphasizing local ownership and service delivery tailored to the Botswana market. Their offerings go beyond placing policies to include risk advisory, claims management, portfolio administration, and fund services.

Offices & contact
CIB operates from Gaborone and Francistown, serving both corporate and individual clients.

Affiliations & recognition
The firm is a member of professional associations in the insurance sector and is acknowledged within Southern Africa’s insurance industry networks.

2. Regulatory & Legal Environment in Botswana

Legal framework
Insurance in Botswana is governed by the Insurance Industry Act, which regulates insurers, brokers, agents, and representatives. Under this Act, brokers and other intermediaries must be licensed and adhere to strict conditions around capital adequacy, governance, recordkeeping, and professional conduct.

Broker / intermediary licensing
Insurance brokers are required to meet “fit and proper” criteria for leadership roles, maintain professional indemnity cover, and keep client premiums in separate accounts.

Consumer protection & oversight
The Non-Bank Financial Institutions Regulatory Authority (NBFIRA) oversees compliance, conducts inspections, and enforces consumer protection rules. New Policyholder Protection Rules have also been introduced to strengthen safeguards for insurance customers.

Industry structure & competition
The brokerage market in Botswana is competitive and fragmented. Brokers compete with one another while also facing the challenge of insurers dealing directly with clients. Chartered Insurance Brokers has also expanded through acquisitions to strengthen its market position.

3. Key Strengths, Challenges, and Market Trends

Strengths / competitive positioning

Strong citizen-owned identity that resonates with local clients.

Comprehensive service portfolio including risk advisory and claims management.

Presence in Botswana’s two main urban centers: Gaborone and Francistown.

Challenges & risks

Heavy regulatory compliance requirements.

High competition from both brokers and insurers.

Market perceptions of brokers as intermediaries, which requires ongoing trust-building.

Need to adapt to new technology, digitalization, and data-driven services.

Emerging trends

Brokers are shifting toward prevention and risk advisory, not just selling policies.

Growing emphasis on digital services, real-time support, and analytics.

Increased regulatory focus on consumer protection and accountability.