Next in insurance: Strategic industry trends in 2024
Hard realities highlight the need for insurers to reinvent themselves
The insurance industry is under pressure. Social, technological, environmental, economic and political risks that seemed abstract or improbable just 20 years ago have become increasingly severe and acute and are affecting the very nature of the business. What’s more, established
First Mutual Holdings disputes auditors forensic report
Staff writer
FIRST Mutual Holdings Limited (FMHL) says it is not in agreement with the findings in the BDO Chartered Accountants report and in the regulator’s Corrective Order and thus has instituted legal proceedings to protect its legal rights.
The Insurance and Pensions Commission (Ipec) last month issued an FML with an order for corrective
Risk anti-selection: A potential threat to reinsurance
FOR years, the insurance industry has faced various headwinds, most of them linked to economic performance given that the two are intertwined.
However, some of the challenges have been sector-specific, for example, the externalization of risk, which has turned out to be a continental challenge.As an establishment meant to minimize the adverse
ZHL records block trading in Wednesday’s trading session
Staff Writer
Zimre Holdings Limited (ZHL) led the activity on the Zimbabwe Stock Exchange (ZSE) yesterday, with 25.51 million shares traded for $3.91 billion.
This comes as the Mutapa sovereign wealth fund has been given permission by the competition authorities to acquire businessman Hamish Rudland’s majority share in ZimRe.
Mutapa acquired
Insurance companies directed to make timely claims settlements
Staff Writer
The Insurance and Pensions Commission (Ipec) has directed all insurance companies to timely settle claims after an increasing number of policyholders sought the Commissioners intervention due to protracted claims settlement.
Ipec, in a circular, said the situation necessitates urgent attention and action from all insurers.
“In
IPEC flags insufficient disclosures in 2009 compensation actuarial reports
Staff Writer
The Insurance and Pensions Commission (Ipec) says it has noted inadequate disclosures in actuarial reports submitted as part of the 2009 compensation schemes.
Ipec, in a circular seen by Inusrance24, said the inadequate disclosures are inhibiting the Commission from making an informed decision on the compensation
Call for contribution in the Q1 2024 magazine
Dear Subscriber
Insurance24 will on 28 MARCH 2024 publish the First Quarter 2024 (Q1 2024) Insurance and Pensions E-Magazine under the theme “Innovation, stronger client relationships in insurance and pensions”.
The magazine will offer an outlook for the insurance and pensions through latest industry news, analysis and special features.
The magazine
How short- term insurance can protect the agric community from eventualities.
By Jasper Manyika
There is no dispute to the fact that agriculture is not only the oldest profession, but it is in fact the first for humanity ordained in the sacred garden.
Throughout history people have grown various crops for own food, butter trade, international trade and as raw materials for the manufacturing sector.
Again
ZHL to hedge on regional investments
Staff Writer
ZMIRE Holdings says it plans to solidify its regional investments and improve their underwriting capacity through continuous capital injections as it seek to hedge against country risk.
In addition, the group said it will be pursuing new markets within the region, harvesting its insurance value chain, and broadening its ecosystem through group synergies
Global insured losses from natural disasters hit $118bn in 2023: Aon
In its recently published 2024 Climate and Catastrophe Insight report, insurance and reinsurance broker Aon disclosed a huge $118 billion in global insured losses during the 12-month period under review.
This marks the fourth consecutive year that insurance losses have exceeded the 21st-century average, reflecting the increasing