Rise in Covid-19 deaths could overwhelm an under-capitalised funeral insurance industry
HARARE – The surge in COVID19 cases and related deaths has stretched the capacity of the funeral assurers. According to Zimbabwe Association of Funeral Assurers (ZAFA) general manager Taka Svosve, the demand for the funeral services is on an upward trajectory with capacity in an undercapitalized sector currently
HIGHLIGHTS: Short-term insurance sector for the nine months ended 30 September 2020
Staff Writer
HARARE, Total Gross Premium Written (GPW) by short-term insurers for the Zimbabwe dollar denominated business amounted to ZWL4.63 billion, reflecting an increase of 634.94% from ZWL629.97 million reported for the comparative period in 2019.
The total business written by reinsurers increased by 599.23%
Four insurance brokers’ licenses cancelled
Staff writer
HARARE, Insurance and Pensions Commission (Ipec) has cancelled registration certificates for four insurance broking companies on the basis of lack of compliance to Ipec requirements.
The companies are Ambassador Insurance Brokers, Auto and General Insurance Brokers, Hostcare Insurance Brokers, and Revival Insurance Brokers.
In a statement, Ipec
Cassava Insurtech business revenue grows
Staff writer
HARARE, Cassava Smartech’s revenue for its Insurtech business grew 131% for the period ended November 30, 2020, compared to Q2 on driven by a strong growth in short term insurance business which registered 165 increase on Q2 revenues.
This was also driven by the companies high end comprehensive diverse product portfolio which span
Tassius Chigariro appointed Old Mutual Namibia CEO
HARARE, OLD Mutual Namibia has appointed Tassius Chigariro as its new group chief executive officer, with effect from the start of 2021.
Old Mutual Namibia’s current chief executive officer, Kosmas Egumbo, will take up a new position as executive responsible for Old Mutual’s life insurance and asset management companies across the rest
Funeral Assurers pleads for review of minimum regulatory capital
Staff Reporter
HARARE, THE Zimbabwe Association of Funeral Assurers (ZAFA) has pleaded with the sector’s regulator IPEC for a review of the sectors minimum capital requirement which it said was higher than fellow insurers who trade in more than one product.
Solomon Chikanda, the ZAFA president, told stakeholders at a breakfast meeting,
Old Mutual Insurance Company win Best Corporate Governance Disclosure award
Staff Reporter
HARARE, OLD Mutual Insurance Company was declared the overall winner of the Best Corporate Governance Disclosures Award for the insurance sector at the Institute of Chartered Secretaries and Administrators Excellence in Corporate Governance Awards ceremony at held in Harare on Wednesday evening.
The first runner-up
Zimbabwe Revenue Authority (Zimra) commissioner general Faith Mazani has urged people to stand up against corruption and stand up to police officers who demand customs clearance documents from them.
“Let’s stand up to corruption. Police are not supposed to demand customs clearance documents,” she said.
She was responding to a suggestion put to her at the Institute
The gender equality women enjoy in Zimbabwe today is well-earned from the shared sacrifices that women made side by side with their men during the liberation struggle, Information, Publicity and Broadcasting Services Monica Mutsvangwa said on Friday.
She was officially opening the annual conference in Nyanga of the Institute of Chartered Secretaries and Administrators
Government is set to make a US$150 million equivalent compensation to small and vulnerable depositors as well as pensioners for losses incurred during currency reform process.
Staff reporter
As part of a broader reform process under the TSP, Government through the Central Bank introduced market determined exchange rate through the Monetary Policy of (SI 33 of 2019) on 20 February 2019.
This entailed