Funeral assures record negative working capital in Q2
Staff writer
HARARE, The latest Insurance and Pensions Commission report paints a bleak picture on the future of funeral assurers who have been hit hard by the ongoing liquidity crisis, recording a negative working capital during Q2 2019.
The country has been struggling with liquidity challenges after a government ZW$400 million mop-up left markets
Zimnat partners Access Finance to provide bureaux de change
HARARE, Zimnat customers can now obtain bureau de change services at selected Zimnat branches across the country, following the establishment of a partnership between Zimnat General Insurance and Access Finance for the provision of these services.
Zimnat offers businesses and individuals a variety of products that include motor insurance,
FBC still keen on Mauritius Re
Staff Writer
HARARE, FBC Holdings says plans to set-up reinsurance unit in Mauritius remains on course. The unit will be 100% owned by FBC Reinsurance Ltd.
Chief executive officer John Mushayavanhu at the company’s announcement of its 2019 half year results, said the group has now obtained the required approvals.
With Zimbabwe currently faced with foreign currency shortages,
Insurance uptake surge
Noah Kupeta
HARARE, The uptake of life insurance policies in Zimbabwe has significantly increased due to comprehensive digital communication efforts by most insurance companies.
Several insurance companies revealed that the uptake of life insurance products has surged by more than 90%, despite the recent upward revision of premiums. Life insurance involves the pooling of resources
Zim in hyperinflationary: Old Mutual Limited…. to manage capital from Zim business on ring fence basis
Staff Writer
HARARE, OLD Mutual Limited (OML) says its Zimbabwean business will be managed on a ring fenced basis until such a time the group will be able to access capital by way of dividends.
The diversified group has a primary listing in South Africa and in Zimbabwe. Old Mutual has a diversified
Sanlam says new business growth potential will remain under pressure, despite satisfactory performance in Four-month
HARARE, Sanlam, whose presence in Zimbabwe is through Zimnat, reported a satisfactory operational performance in the four months to 30 April 2019, despite persisting headwinds in South Africa, the Group’s largest market, and international political and economic turmoil affecting
Ron Mutandagayi, ZB Holdings chief executive
ZB Holdings still keen on regional expansion…as net insurance income increase in H1
Staff Writer
HARARE, ZB Holdings net business income from insurance operations for the half year 2019 increased 44% to ZW$7 mln from ZW$4,9mln for the half year ended 30 June 2018 with growth in reinsurance premiums reflecting a partial restoration of covers against rising
ZHL still pursuing the elusive USD… in Botswana
ZIMRE Holdings says it is still pursuing the Emeritus International transaction to raise at least $10 million in Botswana to support regional operations.
This is part of the group’s restructuring exercise which commenced in 2016, where the group is targeting to raise a total $30 million through a phased approach.
“Further to the cautionary announcement
Clients of Allan Gray increases stake in Old Mutual Limited
Staff Reporter
HARARE, Old Mutual Limited says clients of Allan Gray now holds 10.0018% of the JSE listed total issued ordinary shares of the company.
In a notice to its shareholders, Old Mutual said the acquisition was done within the confines of the JSE Limited Listing Requirements, among other regulatory requirements.
“….. in accordance
Grace Muradzikwa: IPEC commissioner
Only 52,29% of insured funds administered active: IPEC
HARARE, OF the total 897 pension’s funds under administration, only 469 are active, representing 52,29% of the total insured funds administered.
According to the Insurance and Pensions Commission (Ipec) report for the quarter ended 31 March 2019, the high number of inactive funds was mainly due to some sponsoring