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

Read more

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

Read more

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

Read more

Treasury targets Pension Funds and Insurance Companies in $50mln Irrigation Bond

Treasury targets Pension Funds and Insurance Companies in $50mln Irrigation Bond

HARARE, Government will float a $50 million Irrigation Infrastructure Bond aimed at raising funds to support irrigation development and infrastructure under the Command Agriculture programme.

According to a term sheet seen by Insurance24, the Treasury bond has a coupon rate of 6% and 3-year maturity tenure.

The main targeted

Read more

African Actuarial Consultants (“AAC”) partners South African firm

HARARE, The African Actuarial Consultants (“AAC”) has partnered Alexander Forbes Group Holdings Ltd (AFH) of South Africa in a transaction aimed at strengthening AAC’s business to grow its client base not only in Zimbabwe but in the region as well.

AAC, which started operating in 1993, offers end-to-end actuarial and advisory services to leading insurers, reinsurers and large pension schemes

Read more

NICOZ Diamond revenue in marginal growth in Q1 2017

HARARE, Insurance Company, Nicoz Diamond says the insurance sector continues to face a protracted soft market cycle that has seen clients continuing to negotiate for reduced covers and lower premium rates.

As a result, the Group’s revenue for the four months to April 2017 grew a marginal 1% with Gross Premium Written (GWP) for the period at $15.7mln compared to $15.6mln same period in 2016.

Group

Read more