Equities and investment property accounts for 71% of self-administered funds’ assets
Staff reporter
EQUITIES investments and investment property at $4.06 billion accounted for 71,59% of the total asset base for Self-Administered Funds for the year ended December 31, 2019.
The Insurance and Pensions Commission (Ipec), in its quarterly (Q4) pensions report said the quantum of investment in these two
Pension funds key to reignite Zimbabwe’s infrastructure development
HARARE – Without sound infrastructure development such as roads, rail, ports and energy and social infrastructure development the country stands little chance of jumpstarting the economy.
For asset owners such as pension funds, which have assets of over Z$10 billion under management, infrastructure development offers an attractive
Unrealised gains/ currency reforms boost short-term insurer’s earnings
Staff Reporter
HARARE, THE short-term insurers 2019’s after tax profit increased 766,99% to $359,2 million compared to $41,47 million in 2018 mainly driven by movements in unrealised gains as well as currency reforms.
Ipec in an industry report, said there was a slight movement in the combined ratio for the short-term insurers
Insurance Business in Zimbabwe – How to guard against a recession
Staff Reporter
HARARE, Insurance industry take its cue from the fortunes of the financial sector and is directly affected by the movements at the macro-economic level. Economic growth spurs insurance activities and a recession creates manifold problems for the insurance industry. Economic agents who needs to buy insurance
IPEC empowered to issue general guidelines and standards
Staff Reporter
FINANCE and Economic Development Minister Mthuli Ncube has announced legislation empowering the Insurance and Pension Commission (IPEC) to issue general guidelines and standards whenever the Commission considers it necessary, convenient and in the best interest of policy owners, and pension and provident fund members.
IPEC is a
Insurance Council of Zimbabwe (ICZ) ploughs back to community
Staff Reporter
HARARE, The Insurance Council of Zimbabwe (ICZ) has said organisations should value social responsibility programmes which brings positive changes to beneficiaries.
ICZ chairperson Panganai Sanangurai, said the association takes seriously the role of being a socially responsible, and every year identify a community in need
CBZ Insurance adopts new visual identity in line with group strategy
Staff Reporter
CBZ Insurance will have new visual identity in line with the Group’s brand revolution as it seek to consolidate its market leadership as an integrated financial services provider.
CBZ Insurance is a short term insurance company, and the group’s chairman, Marc Holtzman, recently said the group’s insurance business
Old Mutual goes green as it mounts solar system at Mutual Gardens
Staff Reporter
HARARE, OLD Mutual Zimbabwe Limited says it will work in partnership with Easy Power Limited to install a ground mounted solar system at its Mutual Gardens.
The solar plant will have an installed capacity of 650kW- which is enough to cover all the electricity needs for the entire office complex at any given time.
Sam Matsekete,
Self-administered funds records $2,68 billion surplus in 2019
Staff Reporter
HARARE, Self-administered funds recorded a financial surplus of $2.68 billion for the 12 months ended 31 December 2019, reflecting a nominal increase of 527.16% from $427.80 million for the same period in 2018.
IPEC in its quarterly report for the 4th quarter 2019, said the comparative increase was on account of higher
Investment property/Equities boost pension’s industry asset base
Staff Reporter
HARARE, The pensions’ industry’s asset base increased by 175,8% to ZW$16,41 billion ( in nominal terms) in the FY December 2019 from ZW$5,95 billion as at 31 December 2018 to $16,41 billion as at 31 December 2019 although it has declined in real term to USD$ 0,98 billion in real terms during the same period.
The growth