Short term insurance industry carried own cross…Low appetite for insurers on ZSE…Nssa pokes private pension schemes
By Insurance24
HARARE, Trading on the Zimbabwe Stock Exchange (ZSE) reversed Monday’s losses to close in the positive on Tuesday but in a rather quiet session. Insures were quite with activity limited only to Old Mutual which traded flat at 542c. Other sector players ZHL, Fidelity,
Sanlam Emerging Markets in resilient operational performance in 2017
By Insurance24
HARARE, The Sanlam Group performance for the year ended 31 December 2017 reflects a resilient operational performance with substantial growth in Sanlam Emerging Markets and Sanlam Investments.
In 2015 Sanlam, the South African group entered the Zimbabwean market by acquiring a 40% stake in Masawara Plc. Sanlam therefore
Global insurance M&A may be returning to form after slowdown
By Insurance24
HARARE, Global insurance mergers and acquisitions may be returning to form after a two-year decline, according to a new report.
There were 350 completed mergers and acquisitions in the global insurance sector in 2017, according to a new report from global law firm Clyde & Co. That’s down from 387 in 2016 – but the
Private sector to compensate loss of value suffered by policy holders and pensioners during ZW/USDollar conversion….Life Assurance sector gross premium increase 4% in Q3
By Insurance24
HARARE, The Commission of Inquiry that looked into the conversion of insurance and pension values from the Zimbabwe dollar to the United States Dollar has concluded that it is of the view that a fair and just compensation
ZHL’s BaobabRe leads market in terms of GWP as Group Rebrands
By Insurance24
HARARE, Zimre Holdings Limited’s re-insurance unit BaobaRe was market leader in term of Gross Premium Written (GWP) for the third quarter ended September 2017 having written $2.95 mln which was however lower than $3.19 mln same period in 2016.
According to regulator IPEC quarterly report, First Mutual Re with a GPW of
Self-Administered Pension Fund partners CDC
By Insurance24
HARARE, A self-administered pension fund is set to on-board a product on the Central Securities Depository (CSD) trading system this month, becoming a second partner for Chengetedzai Depository Company (CDC) since its launch.
According to a CSD update seen by Insurance24, the CSD Business Partner product is targeted at self-administered
Cyber concerns outrunning risk management
By Insurance24
HARARE, Few companies have faith in their cyber risk management, despite the skyrocketing stakes of an attack.
Two-thirds of 1,300 senior executives surveyed in a newly released global survey by Marsh and Microsoft ranked cyber security among their top five risk management priorities, yet only 19% felt highly confident in their ability to prevent
Fidelity Life trade flat with the company due for FY17 reporting. Turnover spikes to $5.11 mln
By Insurance24
HARARE, Fidelity Life Assurance traded flat at 8c, in a session where turnover spiked to $5.11 mln on big trades from the Zimbabwe Stock Exchange (ZSE) heavyweight counters.
Fidelity among other insurers has not seen share movement for weeks as appetite for insurance companies remain low. The
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