Insurer Old Mutual commission 1.6 MW mini-hydro power plant
Insurance24 Reporter
HARARE, Financial services group and insurance giant Old Mutual Zimbabwe has commissioned its 1.6 MW mini-hydro power plant in Manicaland which was constructed at an investment of $5 mln.
The Group has had several investments in the various sectors of the economy as part of diversification as a financial services group.
Insurance
NicozDiamond Insurance gross written premium up 4% in H1 2017
Insurance24 Reporter
HARARE, NicozDiamond Insurance Limited Gross Premium Written (GWP) increased 4.13% to $23.8 mln during the half year period ended 20 June 2017 compared to $22.9 mln same period in 2016 with the Zimbabwean unit contributing bulk of it at 78%.
According to Chairman James Karidza, NicozDiamond Zim grew 7.4% compared to
Zimbabwe Insurance Brokers (ZIB) develops ‘Pothole’ insurance cover
Insurance24 Reporter
HARARE, The Zimbabwe Insurance Brokers Limited (ZIB) has introduced a pothole insurance product that covers certain damages on vehicles as a result of potholes on the roads.
Most roads in Zimbabwe, particularly in the urban centers are characterized with potholes which has seen several vehicles getting damaged.
Softening insurance market sink FBC Holdings Insurance business in H1 2017
Insurance24 reporter
HARARE, FBC Insurance units recorded a 10% decline in premium revenues and a 16% decrease in net earned insurance premium during the six months period ended 30 June 2016 largely due to low economic activity and the shift in demand for some traditional insurance products.
Chief executive officer John Mushayavanhu
Cash shortages leading to artificial claims inflation of 40%
HARARE, During the first quarter of 2017, Reinsurers reported a negative growth of 23% largely due to declining business written which was at $1.12 mln compared to $1.44 mln same period in 2016.
According to, IPEC’s Life Assurance report for the quarter the decline was attributed to the continued predominance of non-risk products in the
NMB unveils NMBLife range of products
Insuranc24 Reporter
Harare – NMB Bank has launched a range of life assurance products which embrace life assurance, a retirement plan and a funeral plan.
The NMB Funeral Plan, in addition to covering the policyholder, can include anyone with whom the policy holder has a direct relationship with premiums being paid monthly for 10 years, after which cover continues
Insurers in subdued trading in Tuesday’s ZSE trading session
Insurance24 Reporter
HARARE, There was limited activity on the shares of insurance companies listed on the Zimbabwe Stock Exchange (ZSE) as only two counters Old Mutual Zimbabwe and First Mutual Holdings were active albeit on a losing and gaining streak respectively.
Giant Old Mutual retreated by $0.0025 to close at $4.0132 coming down
Moonlight Funeral Assurance partners Old Mutual in low cost funeral product
Harare-Moonlight Funeral Assurance has partnered Old Mutual to launch a new funeral product Moonlight Cash Plus, targeted at low income earners.
The product, Moonlight Cash Plus, offers both funeral services and a cash payout of $500, for $1.79 premium per month and premium payments can be staggered weekly.
The funeral plan
Businesses are spending a small fortune on cyber security but what they are doing is not working very well, according to a cyber security expert who sees the insurance industry as a key to improving the situation.
“We have a lot of money going into trying to address this problem,” David Garrett, founder of Tensyl Security, a San Mateo, Calf. -based security consulting firm, told executives at
PSMAS introduces flexible plan targeted at informal sector
Insurance24 Reporter
HARARE, Premier Service Medical Aid Society (PSMAS) has unveiled a low cost, high benefit product called Shield Plan with subscriptions of $10 per month, per member, everyone can afford quality healthcare.
The product best suits the informal sector which now is the biggest employer in the country and the plan is