Insurance broker gets long custodial sentence after fraud
Source: Insurance Business
A Colorado insurance broker was sentenced to 12 years in state prison on Monday after he pleaded guilty to several counts of forgery, insurance fraud, and theft.
James Ahlin of Grand Junction pocketed some $130,000 in workers’ compensation premiums that he wrote while his license was revoked, The Daily Sentinel
Baobab Re granted Composite operating licence
HARARE, The Insurance and Pensions Commissions (IPEC) have granted Baobab Re a composite operating licence which will allow parent company Zimre Holdings to amalgamate its Short term reinsurance and Life and Health Reassurance units.
Currently there are two IPEC registered Composite Reinsures which are First Mutual Reinsurance Company and Grand Reinsurance
ZIMRE Holdings Q1 2017 profit up 48% despite declining revenues
HARARE, Zimre Holdings Limited recorded a 48% increase in profitability in the first quarter of 2017 to $1.35mln compared to $0.92mln in 2016 despite revenue declining 13% to $6.52mln.
Group chief executive officer Stan Kudenga told a shareholders meeting that profitability was driven mainly on the continued recovery at Baobab Re, focus