Brokers say some Banc assures and agents shortchanging consumers on rights to choice
Nelson Gahadza
HARARE, The Insurance Brokers Association of Zimbabwe (IBAZ) says conditional selling of insurance being practiced by some banks goes against consumer rights to choice, as clients should be given an option to choose insurance brokers of their choice when they are being given loans.
IBAZ in a statement
Marsh Develops Commercial Blockchain Solution for Proof of Insurance
Compiled by Insurance24
HARARE, Marsh announced it is collaborating with IBM, ACORD and its client, ISN, to develop a commercial blockchain solution for proof of insurance.
By using block chain, or distributed ledger technology, Marsh said the certificate of insurance process will be transformed “from complicated and manual to streamlined
Only three counters trade on Monday as Govt gazettes pension and health scheme for informal sector
By Insurance24
HARARE, Insurer, Old Mutual was among the only three counters that traded on Monday as the week opened on a low note with turnover at $550,535. Other insurers, ZHL, Fidelity Life Assurance, FMHL and Nicozdiamond witnessed no activity with rest of the market.
Apart from Old Mutual, activity
Investment banks line-up to dismantle insurer’s global empire
Compiled by Insurance24
HARARE, Investment banks are lining up to manage potential divestments by Anbang Insurance Group Co., the once-acquisitive Chinese insurer that snapped up assets around the world before being seized by the government.
Officials from Anbang and the Chinese banking and insurance regulator are interviewing advisers
Insurers end week on low note. Turnover at $2.05 mln as Government mulls state enterprises listings
By Insurance24
HARARE, Old Mutual was the only insurer to trade on Friday where market turnover stood at $2.05 mln off 97 trades. Trades of note were recorded in Afdis, Econet and Old Mutual. Other insurers, ZHL, Fidelity, FMHL and Nicoz closed the week with no activity.
As government forges ahead with
Allied Insurance set for privatization: Finance Minister
By insurance24
HARARE, Allied Insurance is among state enterprises and parastatals that government has set for privatization as part of the wide-ranging parastatal reform agenda which also include liquidations and mergers.
Finance and Economic Development Minister Patrick Chinamasa at a press conference said that the Industrial Development Corporation
Reinsurance CEOs confident they can fend off insurtech threat
Compiled by Insurance24
HARARE, CEOs of major reinsurance firms believe that while the digitalisation of insurance and the current technology wave is something they have to embrace, they can successfully fend off the threat from digital-only InsurTech start-ups.
Time for changeInsurance and reinsurance is an industry that has been besieged
IPEC crafts risk based capital framework
By Insurance24
HARARE, The Insurance and Pensions Commission (IPEC) is now a gear up towards the development of a Risk Based Capital Framework with the Commission seeking a consulting firm to assist in the process.
Ipec spokesperson Lloyd Gumbo told Insurance24 that the framework is intended to determine the capital that each insurance company should hold based
Altfin Life Assurance commence dividend payment to creditors
By Insurance24
HARARE, Altfin Life Assurance has commenced the payment of dividend to its creditors following its liquidation in 2016.
The company was placed under liquidation in 2016, a year after insurance regulator, the Insurance and Pensions Commission (IPEC) cancelled its operating license for failing to meet prescribed minimum
capital
Risk settlement market remains promising in 2018: Aon
By Insurance24
HARARE, Aon has reported that the risk settlement market presents many attractive opportunities for re/insurers in 2018, with the strong pricing seen in 2017 expected to continue throughout the coming year.
The projection was part of Aon’s ‘Risk Settlement Market 2018’ report, which analyzed 2017’s market trends and generated