FBC Holdings insurance units marginally below budget in five months to May 2017

FBC Holdings insurance units marginally below budget in five months to May 2017

HARARE, FBC Holdings insurance subsidiaries were marginally below budget as at May 2017 although ahead of last year. The Group’s insurance units are FBC Reinsurance Limited and Eagle Insurance Company Limited.

Group chief executive officer John Mushayavanhu in a trading update for the five months to May at the company’s

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Depositors’ insurer, the Deposit Protection Corporation partners Zimpost

Depositors’ insurer, the Deposit Protection Corporation partners Zimpost

HARARE – The Deposit Protection Corporation (DPC) has partnered postal and courier services provider Zimpost in an effort to enhance service delivery and provide convenience to its clients.

The Deposit Protection Corporation is an independent statutory body established by the government of Zimbabwe in terms of the Deposit

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International speakers headline the Zimbabwe Association of Funeral Assurers (ZAFA)

International speakers headline the Zimbabwe Association of Funeral Assurers (ZAFA)

Harare – Several international speakers headline this year’s Zimbabwe Association of Funeral Assurers (ZAFA) conference which will be held from 31 July to 01 August 2017 in Bulawayo.

Notably among them are Teresa Saavedra who is FIAT IFTA President from Bolivia, Alex Granger from South Africa and Emerson De Luca

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The Compliance Society of Zimbabwe officially launches, as IPEC urges corporate compliance

Compliance Society of Zimbabwe officially  launches, as IPEC urges corporate compliance

HARARE, The Compliance Society of Zimbabwe (CoSoZ) an umbrella body for Compliance Professionals across all economic sectors in Zimbabwe was launched yesterday and seeks to ensure that corporate compliance is a continuous process.

TENDAI KARONGA, the Insurance and Pension Commission (IPEC), Commissioner of Insurance,

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Insurance broker gets long custodial sentence after fraud

Insurance broker gets long custodial sentence after fraud

Source: Insurance Business 

A Colorado insurance broker was sentenced to 12 years in state prison on Monday after he pleaded guilty to several counts of forgery, insurance fraud, and theft.

James Ahlin of Grand Junction pocketed some $130,000 in workers’ compensation premiums that he wrote while his license was revoked, The Daily Sentinel

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Baobab Re granted Composite operating licence

Baobab Re granted Composite operating licence

HARARE, The Insurance and Pensions Commissions (IPEC) have granted Baobab Re a composite operating licence which will allow parent company Zimre Holdings to amalgamate its Short term reinsurance and Life and Health Reassurance units.

Currently there are two IPEC registered Composite Reinsures which are First Mutual Reinsurance Company and Grand Reinsurance

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ZIMRE Holdings Q1 2017 profit up 48% despite declining revenues

ZIMRE Holdings Q1 2017 profit up 48% despite declining revenues

HARARE, Zimre Holdings Limited recorded a 48% increase in profitability in the first quarter of 2017 to $1.35mln compared to $0.92mln in 2016 despite revenue declining 13% to $6.52mln.

Group chief executive officer Stan Kudenga told a shareholders meeting that profitability was driven mainly on the continued recovery at Baobab Re, focus

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Senate GOP Obamacare replacement would lead to 22 million more uninsured in 2026, CBO estimates

Senate GOP Obamacare replacement would lead to 22 million more uninsured in 2026, CBO estimates

Source: CNBC

  • The nonpartisan Congressional Budget Office estimates that 22 million more people would be uninsured in 2026 under the Senate’s Obamacare replacement bill.
  • Average premiums are expected to fall in 2026 after initially rising.
  • The CBO’s estimate of the plan’s effect on the number of uninsured Americans could influence whether Republican senators support it.

The Senate’s Obamacare replacement bill would lead to 22 million more Americans uninsured in 2026, while average premiums are expected to fall after climbing at first, according to a Monday report from the nonpartisan Congressional Budget Office.

The CBO’s estimate of

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Leaving the EU without a deal not acceptable, warns ABI

Leaving the EU without a deal not acceptable, warns ABI

Source: Insuranceage

Trade association says that if no Brexit deal is in place insurers may not be able to continue to meet the needs of millions customers and remain legally compliant.

The Association of British Insurers (ABI) has warned that leaving the EU with no deal in place is “not acceptable if insurers are to continue to meet the needs

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ICZ new head office in Harare commissioned, as Finance Minister urges more investment into infrastructure projects

ICZ new head office in Harare commissioned, as Finance Minister urges more investment into infrastructure projects

HARARE, Finance Minister Patrick Chinamasa says the insurance industry must use its tactical position in the economy to mobilize resources for strategic public and private infrastructure development.

He was speaking at the commissioning of the Insurance Council of Zimbabwe (ICZ) new head

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