Why Umbrella Funds are Part of the Solution to Our Pension Fund Woes!
GANDY GANDIDZANWA & ITAI MUKADIRA
With one of the world’s highest unemployment levels, an ultra-expensive financial services sector, and an SMEs-driven economy, the Zimbabwean pension fund industry is most perfectly placed for a speedy-but-structured transitioning into a robust and dynamic umbrella-fund-dominated sector. continue
NRZ REIT, to list on ZSE, targets US$8 million through an IPO.
Staff Writer
THE NRZ Contributory Pension Fund (NRZCPF) will list its Real Estate Investment Trust (REIT), known as Revitus, on the Zimbabwe Stock Exchange (ZSE) on December 15, 2023, becoming the second REIT list on the local bourse.
The Tigere REIT pioneered the listing of REITS in the market, but according to
Premium reviews drive life assurance sector performance
Staff Writer
The life insurance sector says premium reviews and growth in US dollar business continue to drive the industry’s performance and margins, offsetting inflationary pressures.
According to the Insurance and Pensions Commission’s (IPEC) second quarter life assurance report for June 2023, gross premium written (GPW) grew 575 percent
FMHL to expand USD based product portfolio
Staff Writer
First Mutual Holdings (FMHL) says as the local economy increasingly dollarized, the group continued to expand its USD-based product portfolio to maintain product relevance.
Economists say already 80 percent of transactions in the economy are in US dollars, despite the government’s efforts to promote wider usage of the local currency.
FMHL is
Dear reader, please find attached the Insurance Council of Zimbabwe (ICZ) second quarter (Q2) 2023 newsletter. Happy reading….Insurance Council of Zimbabwe Q2 2023 Newsletter …Insurance Council of Zimbabwe Q2 2023 Newsletter
Africa remains underinsured: Mthuli
Staff writer
Finance Minister Mthuli Ncube has said Africa remains desperately underinsured, with an average insurance penetration of 2.7% in 2022 against a global insurance penetration of 7%.
In his speech at the ongoing Insurance and Pensions Regulators Retreat for Africa yesterday,he said it was surprising to note that the uptake of Bitcoins and other virtual
ICZ eyes increasing rural insurance penetration
Staff Writer
THE Insurance Council of Zimbabwe (ICZ) says it is planning to increase the insurance penetration rate from the current 2,6% by equipping the rural farming community with knowledge about insurance.
Speaking at a recent handover of prizes for the Rural Schools Insurance Awareness Essay Competition, ICZ vice chairperson and chairperson of
IPEC is 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 Muradzikwa said the regulator was
Insurance modernisation critical for business success
HARARE, Even prior to the onset of the COVID-19 pandemic last year, insurers were under pressure to modernise their legacy systems as customers started expecting more agile solutions capable of benefitting from advances in digitalisation, the cloud, and even machine learning technologies. Global events over the past 17 months have accelerated
Zimnat launches Motor Vehicle Assessment Centre
Staff Writer
HARARE, Zimnat General Insurance last Thursday launched its first Motor Vehicle Assessment Centre with a head turning simulation of an accident along Leopold Takawira Street in Harare, opposite Parirenyatwa Hospital.
The centre has been established so that its clients no longer have to look for quotations when submitting a motor vehicle insurance