How are insurance regulators in sub-Saharan Africa being affected by, and responding to, COVID-19?
HARARE, The COVID-19 pandemic and the measures governments have imposed to curb its spread continues to have far-reaching consequences for insurance industries across sub-Saharan Africa (SSA). In the midst of increasing uncertainty, insurance regulators have had to explore a range of options to ensure
The Ultimate Guide to Life Insurance
The topic of life insurance can be somewhat confusing and downright scary to think about.There comes a point in everyone’s life where we have to remember that we aren’t going to be around forever. We’re hoping someone will discover the fountain of youth in the next few years, but for now, you probably have lots of questions about how to support your loved
Life Reassures GPW respond to premium increases
Staff Writer
HARARE, The volume of life reassurance business written, in terms of Gross Premium Written (GPW), increased by 528,70% from ZWL$12.54 million reported for the nine months-ended 30 September 2019 to ZWL$78.84 million as at September 30, 2020.
Ipec, in its 9 months report on Life Reassurers, said the growth in GPW was attributable to an increase
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