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
The way people are purchasing insurance is changing”
Risk management consultant looks back on his insurance career
Jose Alfredo Suarez, risk management consultant Alera Group, didn’t begin his career in the insurance sector. Initially, he spent five years as a paralegal in immigration law, a period during which his mother, a Mexican immigrant, worked as an underwriting assistant for an insurance
Revitus REIT lists on ZSE to start trading Wednesday
Staff Writer
The Revitus Property Opportunities Real Investments Trust (Revitus REIT) has become the second REIT to be listed on the Zimbabwe Stock Exchange (ZSE) following its official listing yesterday.
The Revitus REIT is a product of the NRZ Contributory Pension Fund (NRZCPF), managed and administered by CBZ Asset Management unit Datvest, and
Why Umbrella Funds are Part of the Solution to Our Pension Fund Woes!
GANDY GANDIDZANWA & ITAI MUKADIRA
With one of the world’s highest unemployment levels, an ultra-expensive financial services sector, and an SMEs-driven economy, the Zimbabwean pension fund industry is most perfectly placed for a speedy-but-structured transitioning into a robust and dynamic umbrella-fund-dominated sector. continue
NRZ REIT, to list on ZSE, targets US$8 million through an IPO.
Staff Writer
THE NRZ Contributory Pension Fund (NRZCPF) will list its Real Estate Investment Trust (REIT), known as Revitus, on the Zimbabwe Stock Exchange (ZSE) on December 15, 2023, becoming the second REIT list on the local bourse.
The Tigere REIT pioneered the listing of REITS in the market, but according to
Dear reader, please find attached the Insurance Council of Zimbabwe (ICZ) second quarter (Q2) 2023 newsletter. Happy reading….Insurance Council of Zimbabwe Q2 2023 Newsletter …Insurance Council of Zimbabwe Q2 2023 Newsletter
Africa remains underinsured: Mthuli
Staff writer
Finance Minister Mthuli Ncube has said Africa remains desperately underinsured, with an average insurance penetration of 2.7% in 2022 against a global insurance penetration of 7%.
In his speech at the ongoing Insurance and Pensions Regulators Retreat for Africa yesterday,he said it was surprising to note that the uptake of Bitcoins and other virtual
ICZ eyes increasing rural insurance penetration
Staff Writer
THE Insurance Council of Zimbabwe (ICZ) says it is planning to increase the insurance penetration rate from the current 2,6% by equipping the rural farming community with knowledge about insurance.
Speaking at a recent handover of prizes for the Rural Schools Insurance Awareness Essay Competition, ICZ vice chairperson and chairperson of
IPEC is concerned with mushrooming unregulated entities
Staff writer
HARARE, The Insurance and Pensions Commission (Ipec) says it is seized with the issue of unregulated entities mushrooming in the cities especially Harare and Bulawayo, in the form of legal aid societies and funeral homes.
Although this could be lost revenue for the regulator, IPEC commissioner Grace Muradzikwa said the regulator was