Insurance Business in Zimbabwe – How to guard against a recession
Staff Reporter
HARARE, Insurance industry take its cue from the fortunes of the financial sector and is directly affected by the movements at the macro-economic level. Economic growth spurs insurance activities and a recession creates manifold problems for the insurance industry. Economic agents who needs to buy insurance
IPEC empowered to issue general guidelines and standards
Staff Reporter
FINANCE and Economic Development Minister Mthuli Ncube has announced legislation empowering the Insurance and Pension Commission (IPEC) to issue general guidelines and standards whenever the Commission considers it necessary, convenient and in the best interest of policy owners, and pension and provident fund members.
IPEC is a
Insurance Council of Zimbabwe (ICZ) ploughs back to community
Staff Reporter
HARARE, The Insurance Council of Zimbabwe (ICZ) has said organisations should value social responsibility programmes which brings positive changes to beneficiaries.
ICZ chairperson Panganai Sanangurai, said the association takes seriously the role of being a socially responsible, and every year identify a community in need
CBZ Insurance adopts new visual identity in line with group strategy
Staff Reporter
CBZ Insurance will have new visual identity in line with the Group’s brand revolution as it seek to consolidate its market leadership as an integrated financial services provider.
CBZ Insurance is a short term insurance company, and the group’s chairman, Marc Holtzman, recently said the group’s insurance business
Old Mutual goes green as it mounts solar system at Mutual Gardens
Staff Reporter
HARARE, OLD Mutual Zimbabwe Limited says it will work in partnership with Easy Power Limited to install a ground mounted solar system at its Mutual Gardens.
The solar plant will have an installed capacity of 650kW- which is enough to cover all the electricity needs for the entire office complex at any given time.
Sam Matsekete,
Self-administered funds records $2,68 billion surplus in 2019
Staff Reporter
HARARE, Self-administered funds recorded a financial surplus of $2.68 billion for the 12 months ended 31 December 2019, reflecting a nominal increase of 527.16% from $427.80 million for the same period in 2018.
IPEC in its quarterly report for the 4th quarter 2019, said the comparative increase was on account of higher
Investment property/Equities boost pension’s industry asset base
Staff Reporter
HARARE, The pensions’ industry’s asset base increased by 175,8% to ZW$16,41 billion ( in nominal terms) in the FY December 2019 from ZW$5,95 billion as at 31 December 2018 to $16,41 billion as at 31 December 2019 although it has declined in real term to USD$ 0,98 billion in real terms during the same period.
The growth
Understanding disruption in insurance
Disruption is a term used increasingly often in a digital environment. But what does it mean for insurers looking to differentiate themselves from the rise of agile insurtechs and fintechs? Jaco Swanepoel, founder and CEO of SilverBridge, examines the impact of disruption in insurance.
Disruption refers to a process that breaks or interrupts the normal course
Zimnat introduces courtesy car and new claims process
HARARE, Zimnat General Insurance recently launched a new motor claims process and a towing and courtesy car service to make life as easy and stress-free as possible for its comprehensive motor insurance policyholders if they are involved in a road accident.
“Being involved in an accident is quite traumatic. We want to help our clients and relieve
CBZ Insurance to grow on new strategy
Staff Reporter
CBZ Holdings says it sees growth in the group’s insurance business going forward hinging on new strategies the group is implementing, Insurance 24 has learnt.
The group board chairperson Marc Holtzman last week said the growth of insurance is positive leveraging on the fact that insurance penetration rate is only 2%.
“We have our insurance business