Credit rating upgrade to spur growth
Emeritus got reinsurance credit rating to –A from BBB, 1. This comes a year after Zimre Holdings Limited (ZHL) consolidated its reinsurance operations under Emeritus Reinsurance International, as it sought to innovatively grow its market share and profitability. The rebranding,
Asia-Pacific will bring in 42% of global insurance premiums by 2029
HARARE, Global insurance premium volumes reached a new benchmark high of US$5 trillion in 2018, according to the Swiss Re Institute’s report, World Insurance: The Great Pivot East Continues, but that doesn’t mean all is well for insurance sectors in every part of the world.
China and Asia-Pacific more broadly will continue
Of fake claims, double claims, money laundering in the insurance sector
Noah Kupeta
HARARE, The insurance and pension industry is sometimes faced with serious problems such as fake claims, double claims and sometimes money laundering. But why do people commit themselves to such crimes? Does the insurance and pension industry have control mechanisms of transparency and accountability?
Did you know?
Noah Kupeta
Did you know that home insurance is a policy designed for the homeowner and covers buildings of the home, including out buildings, walls, fences and gates, boreholes and swimming pools, tennis and basketball courts against the perils of fire, lightning, explosion, storm, impact ,malicious damage, theft of fixtures and fittings and breakage of fixed glass?
But many people
“Air travel insurance on a gradual increase”-NicozDiamond
Noah Kupeta
Zimbabwe’s insurance industry is currently expanding and penetrating air travel insurance in their quest to outshine and compete with regional and international markets regardless of a myriad of challenges such as adverse weather conditions, political upheavals and unfavourable macro-economic fundamentals.
NicozDiamond Business
ZIMRE Holdings profit in massive jump
HARARE, ZIMRE Holdings after tax profit for the six months period to June 30, 2019 recorded a massive jump to $117,6 million compared to $766 832 in 2018 same period driven by profitability across its operations.
Benjamin Khumalo, the group chairman, said profitability at Zimre Property Investments (ZPI, domestic insurance operations and the group’s associates
Twice-fired CEO shows up, Old Mutual dismisses reinstatement order
HARARE, The high-profile tug-of-war at financial services group Old Mutual Limited (OML) isn’t looking to be over anytime soon.
Anyone who’s keeping score will know that former/current – at this point it’s not clear, really – chief executive Peter Moyo was twice issued an employment termination notice. Between those two ‘sackings’,
Inflationary costs weigh on FMHL H1 operating profit
Staff Writer
HARARE, First Mutual Holdings operating profit for the interim period to June 30, 2019 declined 16% to $4,5 million compared to $5,4 million same period last year largely driven by increased costs.
The company’s financials show that total expenses increase 126% to $39,3 million from $17,2 million same period comparable, due to a 112%
Emeritus International gets –A credit rating
HARARE, The Global Credit Rating agency has upgraded Emeritus Reinsurance credit rating to –A from BBB, reflecting the group’s claims paying ability and strong balance sheet.
Emeritus Reinsurance is a professional pan-African reinsurer specialising in providing reinsurance and risk management solutions to the direct insurance markets.
The group has
Equities market boost Pension industry profitability
Staff Reporter
HARARE, Gains on the equities market drove the Pension industry’s profitability after recording a surplus of $1,16 billion for the half year period ended June 30, 2019 compared to $121,02 million same period prior year.
Ipec, in its second quarter pensions report said fair value gains amounted to $828,74 million largely due to a