First Mutual Holdings Limited eyes controlling stake in Nicoz Diamond Insurance
HARARE, First Mutual Holdings Limited is contemplating the acquisition of a controlling stake in a company in the insurance sector, according to a cautionary statement published this morning.
On other hand, Nicoz Diamond Insurance Limited also published a cautionary advising that its major shareholder the National Social
Insurers prepare for personal cyber insurance demand
Insurers are preparing for a surge in demand for cyber cover in personal lines as the awareness of the risk grows in the population and cybercrime cases jump.
While traditional crime has been falling steadily in the past 20 years in the UK, cybercrime cases have shot up in recent years, surpassing the total number of cases of traditional crimes,
Insurance penetration ratio targeted at 20% in the next two years
Harare – The Insurance and Pensions Commission (IPEC) is targeting to increase insurance penetration ratio to 20% in the next two years from the current 3, 6 % through micro insurance which is largely affordable to low income earners.
Launching the micro insurance regulatory framework, Ipec Commissioner Tendai Karonga said micro
Regulatory reporting protects policyholders and fund member interests: IPEC Commissioner.
HARARE- The Insurance and Pension Commission (Ipec) says regulatory reporting by the insurance and pensions industry ensures policyholders and fund member interests are protected thus boosting confidence sector.
IPEC Commissioner Tendai Karonga told stakeholders at the IPEC-ICAZ Seminar that regulatory reporting
Investment income lifts First Mutual Holdings in five months to May 2017
HARARE, Total Investment Income lifted First Mutual Holdings profitability in the five months to May 2017. After tax profit for the period increased to 44% to $4.35 million compared to $3.02 million in prior year same period.
In a trading update at the Group’s annual general meeting chief executive officer Doug Hoto said
Old Mutual Custodial Services re-named CABS Custodial Services
HARARE, Diversified financial services and Insurance giant Old Mutual Zimbabwe has rebranded its Custodial Services unit to Cabs Custodial Services as part of meeting international best practice which encourages custodians to operate within a banking institution.
CABS is a member of the Old Mutual Group and have an established strong brand
Treasury targets Pension Funds and Insurance Companies in $50mln Irrigation Bond
HARARE, Government will float a $50 million Irrigation Infrastructure Bond aimed at raising funds to support irrigation development and infrastructure under the Command Agriculture programme.
According to a term sheet seen by Insurance24, the Treasury bond has a coupon rate of 6% and 3-year maturity tenure.
The main targeted
South Africa’s property and casualty insurers face an even tougher year than expected after Cape Town experienced its worst storm in 30 years and dozens of fires engulfed the region around the town of Knysna this week.
The insurers, including Santam Ltd., Old Mutual Plc’s Mutual & Federal and Rand Merchant Investment Holdings Ltd.’s OUTsurance unit, are already being battered by an economy
Natural coastal habitats such as mangroves, coral reefs and salt marshes protect communities more effectively against coastal storms than seawalls, and insurers should consider this when pricing flood risk, Lloyd’s of London said.
Investment to conserve natural habitats also makes sense for insurers, a report written for Lloyd’s said on Tuesday, as it is around 30 times cheaper than building
GANDY GANDIDZANWA & ITAI MUKADIRA
The Defined Contribution system has been faulted, rightly or wrongly so, on many fronts. To imagine it though being blamed for not taking real care of its very own, at the time of their most need, feels more like an imagination overstretch. Sadly, it is the reality.
Forty years on, following those mass conversions from DBs to DCs of the early 1980s, we can now