AXA to swoop for XL Group for US$15.3 billion
By Insurance24
HARARE, It’s the big reveal ending all speculation surrounding the sale of XL Group… today the Bermuda-based firm and its buyer announced the acquisition deal that is set to create what has been described as the number one global property and casualty commercial lines insurer.
Paris-headquartered AXA has agreed to pay US$15.3 billion
ZSE opens week firmer on turnover, as insurers extend being inactive
By Insurance24
HARARE, The Zimbabwe Stock Exchange (ZSE) opened the week decent in terms of turnover which closed at $2.5 mln, but for insurers activity was only limited to Old Mutual (OM) which traded flat.
OM, a diversified financial services group and insurer has supported several economic projects and is currently constructing
Block Econet trade lifts ZSE turnover to $3.9 mln, as insurers are saved by OM
By Insurance24
HARARE, Decent trades in insurer Old Mutual and other blue-chip counters saw the Zimbabwe Stock Exchange (ZSE) turnover closing the week on an improved note at $3.9 mln up from $700 000 yesterday.
A total 67.784 Old Mutual shares exchanged hands on a share price of 540.01c while other insurers remained inactive.
Funeral Assurers net premium up 11% in Q3 2017, as only 3 firms meet the $2.5 mln minimum capital requirement
By Insurance24
HARARE, Net Premium Written for Funeral Assurers for the quarter ended 30 September 2017 (Q3) grew 11% to $125.36 million compared to same period last year, the Insurance and Pensions Commission (Ipec) says in its quarterly report.
Life assurers accounted for 76.24 percent of
The means for expansion
By Insurance24
HARARE, BANKS AND other institutions that provide financing to the insurance industry play an integral role in enabling agencies to expand their books of business. In the current insurance landscape, standing still is akin to going backwards, and any agency that isn’t continuously looking for ways to grow by making investments in its business could face a
ZSE opens March on thin trades, as Insurers appetite remain low
By Insurance24
HARARE, Trading on the Zimbabwe Stock Exchange (ZSE) opened the month of March characterized by thin trades. Insurer Old Mutual gained 0.281% to close at 535c and was the only insurer to trade in the opening day of March.
Other insurers ZHL, Fidelity, FMHL and Nicozdiamond remained stuck at their previous prices with no
Premier Medical Aid Society moves to consolidate turnaround strategy
By Insurance24
HARARE, Premier Service Medical Aid Society (PSMAS) as part of monitoring its turnaround strategy will conduct a customer satisfaction survey throughout the country to identify gaps in its service delivery.
PSMAS is the country’s oldest medical aid mutual society and following years of mismanagement among other challenges,
Commercial insurance pricing increases for first time since 2013
By Insurance24
HARARE, Average global commercial insurance pricing increased in Q4 for the first time since the first quarter of 2013, according to new data. The price hike was driven largely by global property insurance pricing, which was impacted by Q3 catastrophe losses.
Average pricing rose by 0.8% in the fourth quarter, compared
Insurers miss action on last day of February…… Run for your health with ECOSURE
By Insurance24
HARARE, On the last day of trading for February, most insurers missed in action on the Zimbabwe Stock Exchange (ZSE) with only Old Mutual being the sole trader for the listed insurance firms.
OM gained 0.056 c to close at 5.31c in a session that was characterized by limited activity across all counters.
Other
Road Accident Funds in perpetual losses, hence not sustanable: IPEC
By Insurance24
HARARE, Road Accident Funds worldwide are in perpetual losses since they are in most cases not adequately funded, the Insurance and Pensions Commission (IPEC) has said.
Last year Zimbabwe through the Ministry of Transport and Infrastructure Development mooted establishment of a road accident fund as a mechanism to pool