Ruling party recommends USD only trading platform for Old Mutual

Ruling party recommends USD only trading platform for Old Mutual

 Staff Reporter

HARARE, The ruling party, Zanu Pf has reaffirmed its position of having Old Mutual delisted from  the Zimbabwe Stock Exchange (ZSE), saying  the bourse should create  a USD only trading platform for the diversified insurer and financial services giant.

Under this arrangement, Old Mutual Limited can then be allowed

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The need to modernise insurance systems

The need to modernise insurance systems

HARARE, Shifting customer expectations and the need to replace aging systems are contributing to insurers’ decision to modernise their environments and become more adaptable to the digital needs of the market today. Lee Kuyper, COO at SilverBridge, examines the process this will likely entail.

“Insurance is not a modern industry, with many companies having

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Sanctuary Insurance to activate “Average Condition” clause

Sanctuary Insurance to activate “Average Condition” clause

Staff Writer

HARARE, Sanctuary Insurance Company says in an event of loss, in light of market changes, the company will activate the Average Condition” clause, where the sum insured does not match prevailing market value.

In this regard, the company is urging clients to consider constantly reviewing insured values to ensure one is

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Insurance industry set to overcome recession – Swiss Re Institute

Insurance industry set to overcome recession – Swiss Re Institute

By Ryan Smith

HARARE, The insurance industry is poised to overcome the COVID-19-induced global recession, according to a report by Swiss Re Institute.

The recession – the sharpest economic contraction since the 1930s – will lead to a slump in demand for insurance this year, especially for life products, Swiss Re Institute predicted.

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Innovation, strategic partnerships strengthens FMHL resilience

Innovation, strategic partnerships strengthens FMHL resilience

Staff Writer

HARARE, DOUG Hoto, the First Mutual Holdings Limited, chief executive, says despite the turbulent economic environment, the Group remained solid on its key competences to mitigate against loss of value in 2019.

“Despite the turbulent economic environment, the Group remained focused on delivering its promise on the core

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Brokers struggle to meet minimum capital thresholds

Brokers struggle to meet minimum capital thresholds

Dorcas Chigodho

HARARE, Zimbabwe’s RE/insurance brokers and funeral assurers are struggling to attain gazetted minimum capital thresholds with the regulator, Ipec, having already demanded their capitalization roadmaps.

End of November 2020, FINANCE minister Mthuli Ncube reviewed minimum capital requirements for the insurance sector, indicating that

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GeneInsure/Zinara partners for self-service vehicle licensing service

GeneInsure/Zinara partners for self-service vehicle licensing service

Staff Writer

HARARE, Genetic Financial Services, trading as Gene-Insure, in partnership with ZINARA have introduced a self-service vehicle licensing machine as part of continuous product innovation for convenience.

GeneInsure operates as an insurance Underwriting Management Company to Zimnat General Insurance, specializing in tailor-made

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LIFE ASSURANCE SECTOR REPORT: Executive Summary

LIFE ASSURANCE SECTOR REPORT: Executive Summary

See report to follow

HARARE, Gross premium written(GPW) for direct life assurance companies for the quarter ended 31 March 2020 stood at ZWL$578 million, representing a nominal increase of 426% from ZWL$110 million reported in the comparative period in 2019.

The increase in GPW for the reporting period was mainly due to significant increase in premiums

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Law Society/IPEC goes after unregistered legal aid societies

Law Society/IPEC goes after unregistered legal aid societies

Staff writer

HARARE, The Law Society of Zimbabwe (LSZ) and Insurance and Pensions Commission (IPEC) of Zimbabwe are collaborating with the police in an effort to weed out illegal aid societies amid indications that despite their enormous numbers they are not registered with the regulator.

In a joint statement, LSZ and Ipec said a number of

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