WAICA Re’s entrance to spur competitiveness: IPEC
By Insurance24
HARARE, THE Insurance and Pensions Commission (IPEC) sees an improvement in the insurance industry capacity through on boarding of WAICA Re in the sector as premium will be retained locally.
WAICA RE , a sub-regional reinsurance group headquartered in west Africa W last week launched in Zimbabwe through colonnade
Zimnat launches Automated Licencing Machine
HARARE, Zimnat in conjunction with Gene Insure has launched an Automated Licencing Machine that will allow motorists to be able to pay their license fees and car insurance in one place.
The innovation is expected to introduce a new and convenient way of transaction with Zimnat.
Zimnat group CE Mostafa Sachak said the ALM will introduce a new and unmatched
K&K Insurance Group, Inc., a subsidiary of Aon plc has launched a newi nsurance program designed for the emerging market of eSports teams and events.
Coverage offered includes sanctioned events, office premises, scheduled premises of the eSport team practices, participation in eSports competitions, promotional and marketing events, ceremonies and other customary business operations of the insured
Insurance firm, Nicoz Diamond Insurance Limited, (NDIL) says it has received a notification from First Mutual Holdings Limited (FMHL) of its intention to make a mandatory offer to buy out the remaining minorities by scheme of arrangement.
Last year, FMHL received regulatory approval for the acquisition of the entire issued share capital of NicozDiamond Insurance, and subsequently the National
Compiled by insurance 24
Fitch Ratings has determined that the 2018 outlook for the reinsurance sector is negative, citing high catastrophe losses, competitive premium rates, and low interest rates worldwide as major factors inits assessment. Fitch observed that market premiums were under negative pressure due to robust capital levels, partly attributable to wide spread alternative forms
HARARE, Zimre Holdings Limited (ZHL) has mutually terminated negotiations over the disposal of certain assets that included a 30.03% stake in short term insurer Nicoz Diamond.
The group in a statement withdrawal a cautionary said will consider other funding alternatives to pursue its strategic opportunities.
“The Board of ZimRe wishes to advice shareholders and the investing public that negotiations
Harare – Agribank says income contribution from its Agri-Insure cluster for the 5 five months to May 2017 was 3% to total income thus the Bank is expanding initiatives to grow the commission income.
The Bank act as an agent for Alliance Insurance and offers products that range from vehicle cover ,households, personal assets, immovable property, crop insurance and accident cover among others.
Agribank
HARARE, The African Actuarial Consultants (“AAC”) has partnered Alexander Forbes Group Holdings Ltd (AFH) of South Africa in a transaction aimed at strengthening AAC’s business to grow its client base not only in Zimbabwe but in the region as well.
AAC, which started operating in 1993, offers end-to-end actuarial and advisory services to leading insurers, reinsurers and large pension schemes
HARARE – Total contributions for self-administered pension funds surged 8 percent to $536.8 mln in FY2016, compared to $496.7 mln realised in the prior year. Data released in the 2016 Fourth Quarter Report of the Insurance and Pension Commission (IPEC) show that arrear contributions have also increased from $311.2 mln in 2015 to $350.7 mln last year.
Arrear contributions for fund administrators
HARARE, Insurance Company, Nicoz Diamond says the insurance sector continues to face a protracted soft market cycle that has seen clients continuing to negotiate for reduced covers and lower premium rates.
As a result, the Group’s revenue for the four months to April 2017 grew a marginal 1% with Gross Premium Written (GWP) for the period at $15.7mln compared to $15.6mln same period in 2016.
Group