Funeral assurance industry net profit increase 10% in nine months 2018
HARARE, Profitability for the Funeral Assurance Industry during the nine months of 2018 increased 10,6% to $3,25 mln from $2,9 mln same period in 2019, largely driven by an increase in gross premium written.
According to the regulator’s (IPEC) Q3, 2018, report for the industry, declining management expenses at $2,4 mln from $2,9
Building the broker-underwriter relationship
HARARE, To fulfil insurance’s core mission to provide protection to clients, underwriters and brokers must have a successful relationship backed by a mutual understanding of each other’s business priorities and key drivers.
This is one of the principles that Hayley Robinson, UK chief underwriting officer at Zurich Insurance,
By Insurance24
HARARE, West Africa reinsurance Giant –WAICA Reinsurance corporation Plc has acquired a local reinsurance company Colonnade Re through a US$5,5 million investment confirming confidence in the Zimbabwe market.
Rebranding colonnade RE to WAICA RE Zimbabwe last night WAICA group chairman Kofi Duffuor said the acquisition of Colonnade Re represents key milestone
Zim insurers slow to adopt digital service models
HARARE, Zimbabwean Insurers have been slow to adopt digital service models but the tide is slowly moving forward, an official has said.
Zelina Francis, Business Development Director at Zimselector.Com, during the last session of a journalist mentorship programme said the country’s leading Insurers are slow in adoption of online services compared
Bogus legal aid societies on the brink
HARARE, The Insurance and Pensions Commission (ipec) has directed all Legal Aid Societies to register with the Commission in a bid to protect policy holders from bogus societies.
In his 2019 budget, Finance minister Mthuli Ncube announced that all legal aid societies and medical Aid societies will now be regulated by Ipec.
However, there are several legal aid
Microsoft data centres to impact local insurance market
HARARE, In May last year, Microsoft announced plans to launch two data centres in South Africa. Located in Johannesburg and Cape Town, these see the company targeting cloud services growth on the continent. These data centres will deliver the Microsoft Cloud, including Microsoft Azure, Office 365, and Dynamics 365 to Africa, with initial availability
ZHL adds 40 years of experience to Board
HARARE, Zimre Holdings Limited (ZHL) has appointed Mark John Haken to the group’s Board of Directors with effect from 22 October 2018.
Haken is a seasoned insurance expert with over 40 years’ experience in the insurance industry, encompassing, among other things, reinsurance, general insurance, underwriting and
brokerage.
Over the span of his career, Haken
Life Assurers grow in half year despite challenging environment
HARARE, The Life Assurance sector showed sign of growth in premium income and asset base for the half year ended 30 June 2018, despite the challenging economic environment.
Latest IPEC report shows that Gross premium written (GPW) increased to $200 million, representing a 16% increase from $173.1 million reported in the comparative period
Zimnat launches online self-service portal
HARARE, Zimnat has as way of modernising the country’s insurance industry, established a self-service online portal that enables customers and potential customers to obtain quotations for short-term insurance policies and sign up for them as well as make claims.
Those wanting to obtain quotations for or purchase, for example, motor vehicle insurance, a
SHORT TERM (NON-LIFE) INSURANCE REPORT FOR THE QUARTER ENDED 30 JUNE 2018
Executive Summary
HARARE, Total Gross Premium Written (GPW) by non-life insurers amounted to $144.18 million for the half year ended 30 June 2018, reflecting a 15.44% increase from $124.90 million reported for the comparative period in 2017.
On the other hand, GPW reported by non-life reinsurers declined from $60.19 million for