Pension industry posts $48.72 million surplus for Q1 2019
HARARE, The Insurance and Pensions Commission (IPEC) released its 2019 first quarter report on the pensions industry. The sector faces growing challenges in value erosion prompted by the currency devaluation and the effects of the adverse economic environment.
The inflationary impact on disposable income looks to be affecting the uptake from
Funeral assurers struggle to comply with minimum Prescribed Asset ratio
…as profit before tax fall 70.63%
HARARE – The Funeral Assurance sector’s profit before tax in the first quarter of 2019 declined by 70.63% from $1.97 million recorded in the comparable period last year to $580 000 due to an increase in operating expenses as the environment is characterised by inflationary pressures.
During
Minister hopes for fresh approach at NSSA
HARARE, The Minister of Public Service, Labour and Social Welfare, Sekai Nzenza has said the new NSSA board comprise personnel of diverse skills who has ability to bring a fresh approach to the Authority.
“This is a new board with a diversity of skills and expertise bringing a refreshing approach to good corporate governance in order to ensure an effective,
The questions insurance firms should be asking about IFRS 17
HARARE, Insurance companies around the world are preparing to implement IFRS 17 – a new international accounting standard for insurance contracts, proposed by the International Accounting Standards Board (IASB).
The incoming IFRS 17 is like a hybrid of the two most common accounting approaches: the deferral and matching approach and the
The competitive advantages of being a smaller insurer
Ando Insurance is a relative newcomer to New Zealand’s insurance market but has grown significantly over the past 12 months, having doubled in size for both headcount and premium.
According to CEO John Lyon, the company was created to address the increasingly
Zimnat constructs ablution block for girls at Epworth school: Press Release
HARARE, Zimnat, one of the country’s leading insurance and finance groups, has spent more than $110 000 on the construction of a girls’ ablution block at Chizungu Primary School in Epworth.
Currently children at the school use pit latrines, some of which were constructed by the children themselves. There is one block of
Fidelity Life Assurance commits to improved service delivery
By Insurance24
HARARE, Fidelity Life Assurance of Zimbabwe has received a new certification as part of its bid for improved service delivery.
The company has migrated to ISO 9001:2015, a departure from the ISO 9001:2008 standards that the company was formerly guided by.
Fidelity Life chief executive officer, Reuben Java said the migration
HARARE, A global ransomware cyberattack could inflict around US$193 billion in damage and affect more than 600,000 businesses worldwide, according to a new report from the Cyber Risk Management (CyRiM) project.
CyRiM is a Singapore-based public-private initiative that assesses cyber risks, with Lloyd’s as one of its founding members. The report was produced in collaboration with Nanyang Technological
Insurance and Pensions constitute bulk of market value placed on CSD
By Insurance24
HARARE- Pension funds and Insurance constitute a combined 42,23% of the total market value of securities placed on the Central Securities Depository (CSD).
According to a CSD operational update for December 2018, the market value of the securities placed on the CSD increased by 6% from US$7.974 billion as at 30 November
The next shift in cyber insurance that brokers need to track in 2019
Ground-shaking earthquakes might topple buildings and displace communities, but they also bear some resemblance to the scale of cyber incidents witnessed in the past year that crippled networks and exposed consumer data, according to one cyber expert.
In some parts of the world, earthquakes are routine with smaller quakes occurring