Investment income lifts First Mutual Holdings in five months to May 2017

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

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Old Mutual Custodial Services re-named CABS Custodial Services

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

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Treasury targets Pension Funds and Insurance Companies in $50mln Irrigation Bond

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

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Cape Town Hit by Worst Storm in 30 Years, Threatening Insurers’ Outlook

Cape Town Hit by Worst Storm in 30 Years, Threatening Insurers’ Outlook

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

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Mangroves, coral reefs could cut flood insurance premiums: Lloyd’s

Mangroves, coral reefs could cut flood insurance premiums: Lloyd’s

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

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Pensioners – Orphans Of Their Own Industry?

Pensioners – Orphans Of Their Own Industry?

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

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ZHL to expand its regional footprint

ZHL to expand its regional footprint

Staff Writer

Zimre Holdings (ZHL) says it will harness strategic partnerships to drive capacity in its regional units and expand its footprint further into the African continent.

ZHL is a diversified investment holding Company with sustainable core competencies in the insurance value chain, property management, and wealth management.

The group’s operations span

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