Prescribed asset ratio deficit worries regulator, as IPEC seeks compliance
Insurance24 Reporter
Bulawayo, The insurance and pensions industry regulator, IPEC has challenged the Funeral Assurance Industry to develop a plan on how the industry intends to deal with the deficit on the prescribed asset ratio which is slightly above 1 percent way below the required 7.5 percent.
According to Commissioner
Funeral Assurance Industry registers $2.5 mln profit in Q1 2017
Insurance24 Reporter
HARARE, Gross Premium Written (GWP) for the Funeral Assurance Industry during the first quarter of 2017 grew 98.% to $39.81mln from same period comparable in 2016 at $36.26 million.
The Insurance and Pension Commission (IPEC) Commissioner Tendai Karonga in a presentation at the Zimbabwe Association of Funeral Assurers
Insurtech threatens more than half of global insurers – survey
More than half of global insurers estimate that around 20% of their turnover is threatened by insurtech, according to a new study by PwC.
However, insurers are getting better about being proactive in the face of the threat; 45% of them have formed a partnership with an insurtech company. Last year at this time, just 28% of insurers had
The ZSE Monitor: Old Mutual in action, as Fidelity stand to lose $200 mln pre-tax profit?
Harare, Of the outright insurance companies listed on the Zimbabwe Stock Exchange (ZSE), only Old Mutual was in action in today’s session after trading $0.0006 stronger at $3.93. The insurance giant is due to announce its interims on 9 August 2017, amid the continued liquidity challenges that is impacting
Insurers, Fidelity Life and Zimre Holdings trapped in CFI Holdings shareholding debacle
Insurance24 reporter
HARARE, Fidelity Life Assurance may find itself in drenched position if Messina Investments successfully execute its bid to reverse the Langford Estates land sale, the transaction it has branded illegal.
Fidelity has since begun the necessary processes to commence construction of about 11
SECZIM launches capital market investor education campaign
HARARE, The capital market regulator, the Securities Exchange Commission of Zimbabwe (SecZim) has launched a capital market investor education campaign seeks among other things to help the average Zimbabwean to understand how to harness the stock market to build personal wealth.
The campaign running under the theme, ‘What’s Your Hustle’
FBC Insurance seeks technology driven growth as it partners SSP Insurance
Insurance24 Reporter
HARARE, FBC Insurance in its quest for growth and lowering costs has partnered SSP Pure Insurance, a global provider of technology systems and solutions across the entire insurance industry.
According to the company’s website, SSP is a global provider of technology systems and solutions across the entire
Extreme weather casts cloud over insurers’ results
***Weather-related losses are hurting insurers’ bottom lines.
During the first half of 2017 alone, US insurers paid out $15.5 billion to cover the claims that resulted from severe weather. That makes the period the second-costliest half-year on record.
Those payouts are hitting insurers in the wallet. On Thursday, The Travelers Companies reported
The ZSE Monitor: FML among top movers, as Nicoz trade flat
HARARE, First Mutual Holdings Limited is among today’s top movers on the Zimbabwe Stock Exchange (ZSE) after adding $0.0020 to trade at $0.1140. Among the insurance companies, Nicoz Diamond also traded flat on $0.03 cents with 25 000 shares changing hands in a Monday session where no counter traded in the negative.
Old Mutual, Fidelity and
African Trade Insurance (ATI) membership changing Zimbabwe’s risk profile: BIMHA
Insurance24 Reporter
Harare, Industry Minister Mike Bimha says Zimbabwe’s membership to the continental insurance agency; African Trade Insurance (ATI) is slowly changing the country’s investment and trade risk profile.
The ATI is Africa’s export credit agency which provides political risk and trade credit