Bulk funeral companies defiant on minimum capital requirements
Insurance24 Reporter
HARARE, Only three funeral assurers Doves, First Funeral and Moonlight funeral companies were compliant with the $2.5 million minimum capital requirement as at March 2017.
Currently there are 9 funeral assurers with a total capital position of $38 530 000 as at March 2017, which is an improved position from $38 316
About 70% of ZSE stocks funded by insurance companies and pension funds: IPEC
Insurance24 Reporter
HARARE, The Insurance and Pension Commission (IPEC) says almost 70% of Zimbabwe Stock Exchange (ZSE) stocks is funded by insurance companies and pension funds as institutional investors and these are probably the strongest local investors.
Commissioner of Insurance, Pension and Provident Funds Tendai
Insurance and pension industry asset base at $4.4 billion as at March 2017: Chinamasa
Insurance24 reporter
Harare-The asset base for the insurance and pension industry totaled $4.4 billion as at 31 March 2017 with pension funds accounting for $2.28 bln of the total.
According to Finance Minister Patrick Chinamasa’s Annual Budget Review presented this afternoon, Non-life insurers asset base amounts
The ZSE Monitor: Insurance companies miss out on ZSE recovery
Harare, As the industrial index resumed the upward trend in mid-week trading session, only two insurance companies were active though with little contribution to the positive trajectory.
First Mutual Holdings traded flat at 11cents with a total 106 258 shares changing hands at a value of $11 688.33. On other hand, giant Old Mutual Plc was
Zimbabwe’s life insurance market projected double digit growth in next five years
Insurance24 reporter
HARARE, Growth of the Zimbabwean life insurance market is expected in double-digit figures over the next five years from 2017 with low inflation supporting real term increases although this will be from a low base and is vulnerable to economic shocks.
According to a summary Zimbabwe Insurance Report
The ZSE Monitor: Little appetite for insurance companies in Tuesday’s session
HARARE, There was little appetite for Insurance companies in Tuesday’s trading as witnessed by a small trade in Old Mutual Limited shares albeit on flat rate of $3.93.
All the other insurance companies muted on their previous closing prices did not trade in a session which also saw the Industrial Index retreating 0.33%
IPEC to share industry developments and reforms at 2017 Shareholder/Investor Forum
Insurance24 Reporter
HARARE, The Insitutute for Sustanability Africa (INSAF) says the dream of receiving meaningful dividends of lost pensions remain bleak with share certificates turning monumental.
The Institute which will hold its Annual 2017 Shareholders and Investors Forum in Zimbabwe next week says many
Insurance companies, pension and provident funds targeted for $80 mln AMA Bills
Insurance24 reporter
HARARE, Financial advisor in the $80 mln Agricultural Marketing Authority (AMA) Bills, CBZ Holdings is inviting insurance players among other investors to subscribe for the bills, it said in a statement.
AMA intends to issue the bills to raise finance for the purchase of maize for the 2017 buying season
Zimnat upgrades the Whole Life Plan with additional benefits
Insurance24 reporter
HARARE, Zimnat Life Assurance has upgraded its Whole Life Plan to include additional benefits as the company seeks to consolidate its position on the market.
Chief Operating Officer Elizabeth Rabvukwa in an emailed response to Insurance24 said the product while not entirely new, is a revised and revamped product.
We
FBC Holdings sets up offshore re-insurance unit in Mauritius
Insuranec24 reporter
HARARE, FBC Holdings says is awaiting approval from the Reserve Bank of Zimbabwe (RBZ) to set up an offshore re-insurance unit in Mauritius as the group seek to address nostro and liquidity challenges obtaining in Zimbabwe which is resulting in delays on settling foreign payments.
FBC has short term and re-insurance operations