Ipec presents compensation framework to sector players

Ipec presents compensation framework to sector players

Staff Writer

HARARE, THE Insurance and Pensions Commission of Zimbabwe (Ipec) says it will on Friday (tomorrow) present the approved Compensation Framework to the insurance and pensions industry.

Cabinet at its sitting of 12 July 2022, approved the Compensation Framework for policyholders and pension scheme members, following the 2009 loss of

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Ipec concerned with mushrooming unregulated entities

Ipec concerned with mushrooming unregulated entities

Staff writer

HARARE, The Insurance and Pensions Commission (Ipec) says it is  seized with the issue of  unregulated entities  mushrooming in the  cities especially Harare and Bulawayo in the form of  Legal Aid Societies and Funeral Homes.

Although this could be lost revenue for the  regulator, Ipec commissioner Grace

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ZHL donates Island Hospice hospital

ZHL donates Island Hospice hospital

Staff Writer

Zimre Holdings Limited (ZHL) has partnered Island Hospice hospital, a private voluntary organization through donation of a brand new Suzuki vehicle to enhance its operations.

Island Hospice has been providing palliative and bereavement support services in Zimbabwe since 1979.

ZHL said it decided to stretch its outreach activities to health care support

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Ipec encourages short term insurance players to improve claim settling pattern

Ipec encourages short term insurance players to improve claim settling pattern

Staff Writer

HARARE, The Insurance and Pensions Commission (IPEC) has encouraged the industry to improve on their claims settling pattern to reduce their outstanding liabilities.

This comes as Technical liabilities for the short-term insurance sector increased by 239.58% from ZW$1.94 billion as at 31 March 2021 to ZW$6.59

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Newsletter Insurance24

Newsletter Insurance24

HARARE, As Insurance24, we are excited to announce our weekly newsletter, (attached) focusing on in-depth insurance and insurance related news and products. The newsletter will be distributed to our more than 30 0000 subscribers, and has a multiplier effect of 3 through distribution via other social networks such as twitter and WhatsApp. Those wishing to contribute articles,

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Government approves compensation framework for 2009 losses

Government approves compensation framework for 2009 losses

Staff Writer

HARARE, Zimbabwe’s cabinet has approved the Compensation Framework for 2009 Insurance Policy Holders and Pension Scheme Members and Supplementary Compensation by the Government.

This was presented by the Minister of Finance and Economic Development, Honourable Professor Mthuli Ncube at a Cabinet meeting held yesterday.

Following

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Alliance real assets a hedge against inflation

Alliance real assets a hedge against inflation

Staff Writer

HARARE, Alliance Insurance Board chairperson Bernard Mwashita says the Company’s overall positive performance has been dampened by hyperinflation which has resulted in increased insurance limits.

However of significant note was the Company’s lower claims risk in the short to medium term due to improved claims experience accentuated by

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Insurance Council of Zimbabwe (ICZ) 2nd quarter 2022 E-magazine

Insurance Council of Zimbabwe (ICZ) 2nd quarter 2022 E-magazine

HARARE, Insurance Council of Zimbabwe (ICZ) is increasing its interaction with various stakeholders in a bid to increase its participation in the national economy as well as scouting for regional market expansion opportunities. The industry’s contribution to the economy remains subdued at the back of

Penetration ratio of less than 3%.

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ZHL restructuring pays off

ZHL restructuring pays off

Staff writer

Zimre Holdings Limited (ZHL) generated ZW$10.6 billion in total income in the year ended 31 December 2021, a 137% growth from the prior year largely as a result of the new structure.

In 2021, ZHL Group began the process of restructuring and repositioning itself to include wealth creation and management both for its shareholders and the communities within which

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