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Author: Insurance24
7Aug
Ipec urges industry to embrace and adapt to digital transformation
Staff Writer
The Insurance and Pensions Commission (Ipec) has encouraged the industry to embrace and adapt to digital transformation, saying it is essential for the industry.
Speaking during the ongoing Insurance Institute of Zimbabwe Winter School in Kariba, IPEC Director of Insurance and Microinsurance Sibongile Siwela said adapting to change was not optional.
Siwela said the sector was currently
7Aug
NicozDiamond to consolidate local market leadership, records profit in 2024
Staff Writer
NicozDiamond Limited, a member of First Mutual Holdings, says local market leadership consolidation still remains the group’s key focus that can be used as a springboard for the long-term regional expansion strategy.
Cluster chief executive David Nyabadza, in a statement of financials for the year ended December 31, 2024, said the Group will seek to leverage technology and digital
7Aug
POSB Launches Solar and Starlink Loan Facility to Schools to improve sustainable energy and digital connectivity
Staff Writer
The People’s Own Savings Bank (POSB) has unveiled a Solar and Starlink Loan, a transformative financing solution designed to help schools and staff in the education sector across Zimbabwe to access reliable solar energy and high-speed internet connectivity via Starlink.
Chief executive Garainashe Changunda in a statement said this people-centric initiative is a direct response to the
31Jul
ZHL to prioritize balance sheet optimization and revitalise key performing units
Staff Writer
FINANCIAL services group Zimre Holdings Limited (ZHL) says its key priorities for the year include driving balance sheet optimization, improving collaboration across strategic business units, and the revitalization of better-performing assets, Insurance24 reports
31Jul
First Mutual Holdings consolidates regional presence and plans to list a gold exchange-traded fund
Staff Writer
First Mutual Holdings (FMHL) Insurance Contract Revenue (ICR) for the half-year period to June 30, 2024, grew by 15 percent year-on-year to US$84,009 mln compared to US$73,193 mln for the same period in 2023, primarily driven by increased customer uptake.
Chief executive Doug Hoto told shareholders at the group’s annual general meeting (AGM) that the pure USD ICR contribution remained
28Jul
Tight liquidity and changing patterns of institutional investment are causing concern for Zimbabwe’s capital markets.
Staff writer
Zimbabwe’s capital markets are navigating a complex environment marked by tight liquidity, currency uncertainty, and shifting institutional investment patterns in the second half of the year.
This is coming at a time when the Zimbabwe Stock Exchange turnover saw a total of 1.27 billion shares exchanging hands during the first half of the year, up 179% from 456 million shares were traded
28Jul
Old Mutual Zimbabwe Steps Up to Warm Vulnerable Communities This Winter
Staff Writer
Old Mutual Zimbabwe launched its nationwide #WinterWarmer Campaign, a compassionate initiative designed to support the country’s most vulnerable communities during the harsh winter season.
17Jul
Pension Funds’ Property Shift Drags Down ZSE Performance
Staff reporter
Zimbabwe’s stock market is feeling the strain as pension funds pivot away from equities in favour of property and alternative assets, a move that the Imara Asset Management has said is weighing heavily on the Zimbabwe Stock Exchange (ZSE).
In a recent quarterly investment notes update to clients, Imara non-executive director John Legat said pension funds’ growing preference
15Jul
Old Mutual Insurance bets on innovation and market expansion to power growth
Staff Writer
OLD Mutual Insurance Company says its aggressive drive to expand market reach and roll out innovative products underpinned double-digit revenue growth for the year ended December 31, 2024.
Gross premium written (GPW) rose 10% to ZiG1,137 billion from ZiG1,040 billion in 2023, buoyed by new business acquisition and a strong retail portfolio, which grew to contribute 40% of GPW compared