HARARE – Total contributions for self-administered pension funds surged 8 percent to $536.8 mln in FY2016, compared to $496.7 mln realised in the prior year. Data released in the 2016 Fourth Quarter Report of the Insurance and Pension Commission (IPEC) show that arrear contributions have also increased from $311.2 mln in 2015 to $350.7 mln last year.
Arrear contributions for fund administrators
HARARE, Insurance Company, Nicoz Diamond says the insurance sector continues to face a protracted soft market cycle that has seen clients continuing to negotiate for reduced covers and lower premium rates.
As a result, the Group’s revenue for the four months to April 2017 grew a marginal 1% with Gross Premium Written (GWP) for the period at $15.7mln compared to $15.6mln same period in 2016.
Group