Central Bank sets up $5 Fund to facilitate repatriation of dividends for foreign investors

Central Bank sets up $5 Fund to facilitate repatriation of dividends for foreign investors

Insurance24 reporter

HARARE, The Reserve Bank of Zimbabwe (RBZ) says it will establish a $5 mln Portfolio Investment Fund that will facilitate repatriation of dividends as well as sales by foreign investors.

Presenting the Monetary Policy Statement, Governor Dr John Mangudya said the Central Bank has noticed

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Bulk funeral companies defiant on minimum capital requirements

Bulk funeral companies defiant on minimum capital requirements

Insurance24 Reporter

HARARE, Only three funeral assurers Doves, First Funeral and Moonlight funeral companies were compliant with the $2.5 million minimum capital requirement as at March 2017.

Currently there are 9 funeral assurers with a total capital position of $38 530 000 as at March 2017, which is an improved position from $38 316

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About 70% of ZSE stocks funded by insurance companies and pension funds: IPEC

About 70% of ZSE stocks funded by insurance companies and pension funds: IPEC

Insurance24 Reporter

HARARE, The Insurance and Pension Commission (IPEC) says almost 70% of Zimbabwe Stock Exchange (ZSE) stocks is funded by insurance companies and pension funds as institutional investors and these are probably the strongest local investors.

Commissioner of Insurance, Pension and Provident Funds Tendai

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Insurance and pension industry asset base at $4.4 billion as at March 2017: Chinamasa

Insurance and pension industry asset base at $4.4 billion as at March 2017: Chinamasa

 Insurance24 reporter

Harare-The asset base for the insurance and pension industry totaled $4.4 billion as at 31 March 2017 with pension funds accounting for $2.28 bln of the total.

According to Finance Minister Patrick Chinamasa’s Annual Budget Review presented this afternoon, Non-life insurers asset base amounts

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Zimbabwe’s life insurance market projected double digit growth in next five years

Zimbabwe’s life insurance market projected double digit growth in next five years

Insurance24 reporter

HARARE, Growth of the Zimbabwean life insurance market is expected in double-digit figures over the next five years from 2017 with low inflation supporting real term increases although this will be from a low base and is vulnerable to economic shocks.

According to a summary Zimbabwe Insurance Report

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FBC Holdings sets up offshore re-insurance unit in Mauritius

FBC Holdings sets up offshore re-insurance unit in Mauritius

Insuranec24 reporter

HARARE, FBC Holdings says is awaiting approval from the Reserve Bank of Zimbabwe (RBZ) to set up an offshore re-insurance unit in Mauritius as the group seek to address nostro and liquidity challenges obtaining in Zimbabwe which is resulting in delays on settling foreign payments.

FBC has short term and re-insurance operations

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Zimnat in solid FY16 performance as insurance segment lifts Masawara Plc

Zimnat in solid FY16 performance as insurance segment lifts Masawara Plc

Insurance24 reporter

HARARE, Masawara Plc‘s insurance segment recorded a positive outturn in 2016 which propelled the Group to an after tax profit of $58 000 from a loss position of $4.7 million in 2015.

Masawara Plc is an investment holding company focused on acquiring interests in companies based in Zimbabwe and the Southern

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Fidelity Life Assurance unveils a new funeral cover product

Fidelity Life Assurance unveils a new funeral cover product 

Insurance24 reporter

HARARE, Fidelity Life Assurance has unveiled into the market a new funeral cover product called Fidelity Medicover, which is a unique Funeral Cover that offer policy holder’s free drugs cover.

General Manager Group Marketing at Fidelity Life Assurance of Zimbabwe Melanie Gumbo told Insurance24 in an emailed response

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Fidelity Life total cumulative income below budget in five months, eyes recovery in H2

Fidelity Life total cumulative income below budget in five months, eyes recovery in H2

HARARE, Fidelity Life Assurance of Zimbabwe says despite missing budgeted income during the first five months of the year, the company remains profitable and sees recovery during the second half on anticipated increased insurance uptake in 2017.

The company held its 38th annual general meeting this afternoon where

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First Mutual Holdings Limited eyes controlling stake in Nicoz Diamond Insurance

First Mutual Holdings Limited eyes controlling stake in Nicoz Diamond Insurance

HARARE, First Mutual Holdings Limited is contemplating the acquisition of a controlling stake in a company in the insurance sector, according to a cautionary statement published this morning.

On other hand, Nicoz Diamond Insurance Limited also published a cautionary advising that its major shareholder the National Social

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