Short term insurers first quarter total GWP up 520 percent
Staff writer
HARARE, Total Gross Premium Written (GPW) by short-term insurers amounted to ZWL$817.93 million for the quarter ended 31 March 2020, reflecting an increase of 521.59% from ZWL$131.57 million reported for the comparative period in 2019.
The total business written by short-term re-insurers increased from ZWL$60.63 million for the
Old Mutual suspends equity and balanced funds transactions
Staff writer
HARARE, Old Mutual Zimbabwe has with immediate effect suspended transacting (deposits and withdraws) in the OMUT equity and balanced funds
following the suspension of trading on the Zimbabwe Stock Exchange (ZSE).
ZSE on Monday said it had suspended trading “until further notice” in compliance with a government directive after
Fidelity Life to pursue regional opportunities to de-risk from Zim’s hyperinflation
Staff writer
HARARE, Fidelity Life Assurance of Zimbabwe says it will continue exploring and pursuing opportunities in the region for geographical diversification and de-risking
Pensions sector assets base increase 80% in March quarter
Staff writer
HARARE, Investment property and equities in the pensions sector continued to reprice faster than all other asset classes in Q1 2020 diluting exposures to these assets, Insurance 24 can report.
The industry closed the quarter with a total asset base of ZW$29,81 billion as at 31 March 2020, an increase of 80,33% in asset values recorded
A FULL COMMENTARY ON THE PENSIONS AND PROVIDENT FUNDS BILL 2019:
Submissions to the Parliament of Zimbabwe
Nobert Musa Phiri
Partner: Muvingi & Mugadza Legal Practitioners (Member of the Alliott Group)
Pensioners get part payment in USD
Staff Writer
GOVERNMENT pensioners will effective this month get part of their earnings in United States dollars as a cushioning measure by government against inflationary pressures.
As the economy is officially in hyperinflation, savings and value have been lost, resulting in pensioners monthly payouts being wiped off.
“Pensioners will be getting US$30 while civil
Cimas announces cover for COVID-19 positive members
Staff Writer
HARARE, Cimas Medical Aid Society has announced that it will provide any of its members who test positive for COVID-19 with medical aid cover for subsequent treatment and clearance tests at the end of their treatment.
The cover, which is subject to the benefit levels provided for in the member’s medical aid package, includes admission
Insurance companies should accumulate inflation linked product to preserve value: Mangudya
Harare – RBZ governor, Dr John Mangudya said the central bank will provide insurance companies a product that is inflation linked in a bid to preserve value for them and the pensioners, although analysts are skeptical about the prospects of such a product which presently does not future among the possible
National lockdown delays ZHL’s audit process
HARARE, ZIMRE Holdings (ZHL) says the national lockdown has delayed the group’s audit process, hence will not be able to publish its 2019 financials by April 30, 2020.
Government instituted a national lockdown to contain the spread of the novel Corona Virus (COVID- 19), through Statutory Instrument (SI) 83 of 2020 and subsequent extension through
New registration fees for pension funds, as fund administrator rules are amended
Own writer
HARARE – The ministry of Finance has gazetted a new Statutory Instrument (SI) 91 of 2020 that deals with fund administrators, principal officers, registration fees as well as financial results of pension funds.
For a person to be a fund administrator according to SI 91 of 2020, one has to be an insurer