Sanlam, Zimnat’s parent company banks growth prospects on outside South Africa operations
Insurance24 Reporter
South African insurer, Sanlam, who are the largest shareholder in local insurer Zimnat says growth prospects outside of South Africa remain more positive with the improvement in economic conditions likely to persist in the medium term across most regions where it operate.
Sanlam, a financial
Accurate data is the key to a viable insurance sector
For insurers to remain competitive and viable, they require accurate data to move their business forward into the digital age.
Data has always played an important role when making informed decisions in the insurance industry. In the past, data was gathered through face-to-face interactions with clients. Brokers and insurers shaped their understanding
LOA takes initiative to de-mystify insurance as it stimulate national debate
Insurance24 Reporter
HARARE, According to the Insurance and Pension Commission (IPEC), almost 70% of Zimbabwe Stock Exchange (ZSE) listed companies are funded by insurance companies and pension funds as institutional investors.
On other hand, at least 77% of Zimbabwe’s adult population are believed do not have any form
Healthcare funders discuss economy and industry regulation’s impact on industry
Insurance24 Reporter
Harare- Healthcare funder’s stakeholders will this week gather in Victoria Falls for their annual conference which will among other things deliberate on the country’s economic outlook and regulatory issues impact on the sector.
The Association of Healthcare Funders of Zimbabwe (AHFoZ), the convener,
Insurers predicting growth in staff and revenue
The insurance industry is bullish about growth in the next 12 months, with three-quarters of personal lines companies expecting to increase staff.
The majority of insurance (81%) companies are also expecting to grow their revenue in the next 12 months.
The stats are the results of an “Insurance Labor Market Study”, a joint effort conducted by The
FML shareholders approve acquisition of NicozDiamond, as changes in management looms
Insurance24 Reporter
HARARE, Management changes are now visibly looming at NicozDiamond and Tristarinsurance after shareholders of First Mutual Holdings (FML) approved at an EGM the acquisition of 80.92% the entire issued share capital of Nicoz which will result in merging of the two short term insurers.
FML group
South African funeral assurer unveils a funeral cover product for Zimbabweans
Insurance24 Reporter
HARARE, A South African funeral financial services company, Transafrica has unveiled a funeral cover product known as Zim Transafrica Life targeted at over one million Zimbabweans living and working in that country.
The company which has other products that are specifically designed for Zimbabwean citizens
Amended new insurance regulations gazetted
HARARE, Government has gazetted the new insurance regulations on capitalisation of insurance firms which were proposed during the 2016 National Budget.
According to the amended rules, the minimum unencumbered capital for life assurance business, including funeral assurance, will be $5 million. Minimum capital threshold for non-life business is $2 million.
Patra’s three-pronged approach that could save the insurance industry
The insurance industry is aging fast. Hordes of experienced professionals are expected to retire in the next decade and there aren’t enough people keen to step in and replace them.
A workforce generation gap has slowly started to emerge in the past 50 years and the insurance industry, with its drooping sex appeal, has been struggling
Pension’s industry asset quality compromised by arrears: IPEC
Insurance24 Reporter
Harare- Total assets for the Pensions industry during the quarter ended 31 March 2017 amounted to $3.35 billion, however with a significant proportion of total assets totaling 15.27% of the asset base tied up in contribution and rental arrears.
“These two asset classes amounted to $462.99 million and $49.41 million