Staff Writer
FBC Securities, a stockbroking and equities research firm says fewer pension funds have taken advantage of the permission by IPEC to invest in offshore assets as a way of mitigating local economic risks and improve returns for pensioners.
In 2022, the Insurance and Pensions Commission (IPEC) of Zimbabwe introduced a regulation permitting pension funds to invest up to 15% of their portfolios
Staff Writer
The Insurance Pensions Commission (Ipec) says it is reviewing the reporting requirements for pension funds and has come up with revised reporting requirements after the funds failed to comply with IAS 29—Financial Reporting in Hyperinflationary Economies.
In a circular to pension funds, the new guidelines will be effective
Summary
The Insurance and Pensions Commission (IPEC) Amendment Bill, 2024, introduces significant reforms that will reshape Zimbabwe’s insurance, pensions, and medical health sectors. Notably, the Bill expands IPEC’s regulatory powers to include medical aid societies for the first time, ensuring these entities are subject to the same regulatory oversight
By Olayayi Jack
THE Insurance Institute of Zimbabwe (IIZ) recently hosted its highly anticipated Annual Dinner at the Rainbow Towers in Harare, bringing together leaders, professionals, and key stakeholders from across the country’s insurance sector.
The event, held under the theme ‘Fostering a Culture of Innovation’, was a celebration of the industry’s achievements over the past year and
Staff Writer
Two corporate giants, TM Pick n Pay and CABS, donated a total of US$150,000 worth of cancer medicines to Mpilo Hospital, underscoring the collective effort in the fight against cancer in Zimbabwe.
TM Pick n Pay contributed US$100,000, while CABS provided an additional US$50,000, joining forces to make a significant and lasting impact on the lives of those affected by cancer.
This
Staff Writer
Banking unit, CABS, was recognised in two awards categories at the Banks and Banking Survey and Awards 2024, showing the bank’s commitment to ESG and its digitalisation drive.
CABS was the runner-up in both the Environmental, Social, and Governance (ESG) and Digital Innovation awards.
ESG has become a central focus for banks, driven by growing regulatory pressures, market demand,
Staff Writer
WAICA Reinsurance Corporation Plc (WAICA Re) has established AFIN Bank UK Limited, a wholly owned subsidiary in the United Kingdom, a strategic move that marks a significant step in WAICA Re’s mission to strengthen financial ties between Africa and international markets.
AFIN, short for “Africa Affinity,” embodies WAICA Re’s deep-rooted connection to the African
Gandy Gandidzanwa & Itai Mukadira
We asserted, in Part I of this two-part thought-piece, that the pension fund industry finds itself at a cross-road. That the options are many, though the right ones are few – and while they are known, they are unpopular. They require some painful sacrifices. They are no populist choices…. Let’s dig in … Restoration
Staff Writer
Old Mutual Zimbabwe has advised the termination of the Pensions Plus product saying the product has ceased to be on offer effective 31 December 2024.
In a notice to pensioners who acquired the product, Old Mutual Zimbabwe said regulatory approval was sought and granted for this change to be put into effect.
“Old Mutual Zimbabwe wishes to advise its valued pensioners who acquired a Pensions
Staff Writer
Waica re Zimbabwe Manager-Life Clementine Chinyuku has been elected the Insurance Institute of Zimbabwe (IIZ) president, taking over from Tatenda Katoma.
In her acceptance speech at the recently held conference, Chinyuku said more work needs to be done to bring insurance to the people but also relevant and meaningful products.
“Increasing insurance awareness can help demystify our industry