Ecocash’s InsurTech expands its footprint
Staff Writer
HARARE, Ecocash Holdings says the net premium written for its InsurTech business in the quarter to November 30, 2023, increased by 116% compared to the prior period as the business also expanded its reach in rural areas.
In a trading update, the company said the business unit focused on enhancing its overall customer experience.
FMHL shareholders further notified of the pending mandatory offer
Staff Writer
Harare, CBZ Holdings (CBZH) says it is still determining a fair price to complete the transaction in which it is in the process of acquiring a 36,35% stake in First Mutual Holdings (FMHL).
In a cautionary statement, group chief governance officer Rumbidzai Jakanani said CBZH is still in the
Unpaid non-resident benefits continue to be a challenge: Ipec
Staff Writer
The Insurance and Pensions Commission (Ipec) says the unpaid benefits to non-resident pensioners cumulatively stood at ZWl$3,2 billion (US$600000) as at Q3 2023.
The amount owed to about 3055 non-resident pensioners increased by 1098% in nominal terms during the period with the number on pensioners having gone up to 3115.
Over
First Mutual Holdings cautions shareholders
Staff Writer
First Mutual Holdings (FMHL) says corrective measures being instituted on its subsidiary First Mutual Life as part of the ongoing forensic audit by the Insurance and Pensions Commission (IPEC) will have a material impact on the price of the company’s shares.
On April 5, 2022, stakeholders were advised that the Insurance and Pensions Commission
Zimre Holdings and First Mutual Holdings emerge as the top ZSE performers in 2023
Staff writer
Insurance companies Zimre Holdings Limited (ZHL) and First Mutual Holdings Limited (FML) emerged as the top performers on the Zimbabwe Stock Exchange in 2023, recording a US$ annual return of 414% and 358%, respectively.
This is ahead of the 21% average return for the stock market
FBC Insurance MD elected WIZ president
Staff Writer
The Women in Insurance in Zimbabwe (WIZ) has elected FBC Insurance managing director Alice Shumba as its president, a position she will hold for the next two years.
Shumba, who is taking over from Ruth Ncube, will be deputized by Emeritus Reinsurance head-reassurance and underwriting (Life and Health), Clementine Chinyuku.
Shumba,
Environmental, Social, and Governance (ESG) and Sustainability in Insurance
By Enock Rukarwa
Traditionally, the primary concern of investors has been the level of returns provided by an investment, with general ambivalence towards how those returns have been generated.
Now, the Insurance industry is seeing a drive towards responsibility in its stewardship of investor money, with investors seeking to
The Role of carbon accounting in Insurance
By Insurance 24
The insurance industry’s balance sheets hold a significant portion of countries’ economic assets and liabilities. This implies that, through key activities such as risk management, risk transfer, and investments, the insurance industry has the ability to support the transition to a resilient, net-zero future.
Zimbabwe has been intensifying
Reinsurance arrangements: implications for the Funeral assurance sector
Clementine Chinyuku
One of the major reasons for taking out insurance of any kind is the risk transfer principle, a strategy of managing risk where one party assumes the potential liability of another. Purchasing insurance is one way of transferring those liabilities. Funeral assurance is a contract
IFRS 17 Implementation in the Zimbabwean Insurance Sector
By Stella Mupatsi and Taurai Jamu
Zimbabwean insurance companies are currently in the process of implementing International Financial Reporting Standard 17 (IFRS 17), a new accounting standard applicable to insurance contracts and investment contracts with discretionary participation features.
This standard replaces