By Allan Mbotshwa
The short-term insurance industry in Zimbabwe continues to exhibit robust growth, underscoring its increasing significance as a cornerstone of the nation’s economy.
According to the Insurance and Pensions Commission’s 2024 First-Quarter report, the number of registered entities and persons in the sector surged by 5% to reach 1,262 by the end of March 2024, from
Staff Writer
Harare, Total expenditure for Pension Fund Administrators amounted to $96 billion in the quarter to March 2024, against an income of $70,7 billion, resulting in a loss of $25,5 bln.
According to the Ipec Pensions Report for the quarter under review total expenditure was mainly comprised of salaries and wages, operating expenses, commissions and rentals.
Salaries and wages at $50,51 billion
Staff Writer
Champions Insurance Company tops the list of most complaints received from policyholders against the short-term industry, with unsatisfactory service being the major source of complaints.
Accounting for 22 percent of the total complaints, Champions is followed by Credsure (11%), and FBC Insurance Company (11%), with the three having a combined percentage of 44% of the total complaints
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Insurance and Pensions industry regulator, IPEC has stopped dissolutions of about 372 funds that were earmarked for dissolution to allow conclusion of the pre-2009 compensation.
The Justice George Smith-led Commission of Inquiry constituted in 2015 found some policyholders and pension scheme members were prejudiced by the conversion process during dollarization and recommended they be
Staff Writer
Nyaradzo Life Assurance Company continued to dominate the life sector in terms of insurance revenue with 40,1% of the market share, driven by funeral assurance business as the major source of revenue.
The Life company also had a market share of 33 percent of the total foreign currency denominated business written by the life assurance sector, thus indicating the dominance of funeral products
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Insurance industry regulator, Ipec says life assurers should take appropriate measures to safeguard their products from possible abuse in high-risk jurisdictions where they are offering services.
In its life assurance report for the March 2024 quarter, Ipec said six life assurances indicated the existence of branches in areas considered to be domestic high-risk areas, such as artisanal
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Zimre Holdings Limited (ZHL), a Pan-African investment group, has made three new executive appointments as part of ongoing efforts to reenergize the group’s brands.
The new appointments are effective July 1, 2024.
“These strategic appointments are part of our ongoing efforts to reenergize the Group’s brands and align with our commitment to drive innovation, enhance customer experience,
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Econet Wireless Zimbabwe says synergies between its digital insurance platforms and mobile money ecosystem continue to drive increased adoption and cross-selling opportunities.
The group’s insurance business falls under the Financial Technology (Fintech) segment anchored by the mobile money business.
The segment in the quarter to May 31, 2024 delivered a strong performance driven primarily
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AfrexInsure says it was among industry leaders and experts that discussed the future of insurance in Africa at the 50th African Insurance Organization (AIO) Conference in Namibia.
AfrexInsure said it had the privilege of attending and sponsoring the conference, a significant event brought together industry leaders.
“Our team, led by CEO Jonas Mushosho, was proud to be part of
HARARE, When authorities in 2022 sought to compensate for loss of value caused by the 2019 currency changes through a US$75 million Kuvimba disbursement, the process was met with several hurdles.
Key among the hurdles in this compensation, was data integrity and the Treasury made several calls for the regulator, the Insurance and Pensions Commission (Ipec), to ensure the matter was resolved.
Treasury