Funeral Assurers urged to hedge risk in reinsurance.
…..As retention ratio averages 99,96%
HARARE, Reinsurance uptake by Funeral assurers remain low as evidenced by average retention ratio of 99, 96%, this according to the latest IPEC report for the June quarter for the industry.
The Regulator said this is despite numerous calls by the Commission for industry
Revealed: what will drive insurance on during slowing global economic growth
HARARE, Emerging Asia will be the region that will drive the insurance industry amid solid but slowing global economic growth over the next two years, according to research from Swiss Re.
According to a report by the Swiss Re Institute, titled ‘Global economic and insurance outlook 2020’, the still-positive economic
ICZ paid over $300 000 to Rusape bus disaster victims
HARARE, The Insurance council of Zimbabwe committed in excess $300 000 on the Rusape bus disaster but said government and responsible authorities should hasten to take care of the quality of drivers on public transport, quality of roads and others issues that are claiming the lives of innocent people.
ICcz makes pay outs for victims of road accidents
Zimnat marathon raises $7 000 for Cebisani Ndlovu’s surgery: News release
HARARE, Zimnat’s first charity marathon, which was held at Barclays Sports Club in Harare on November 10, managed to raise almost the whole amount originally quoted for 30-year-old Bulawayo resident Cebisani Ndlovu’s spinal cord surgery.
When Mr Ndlovu approached Zimnat for assistance, the amount needed at that time for
Liberty Mutual announces new broker-friendly distribution model
HARARE, Global property and casualty insurance giant Liberty Mutualhas announced a new distribution model for its commercial insurance operation, Global Risk Solutions (GRS).
The new structure enables brokers and buyers to enjoy easier access to the full suite of GRS primary and specialty commercial insurance products across the
Executive summary…Funeral Assurers report..Half year 2018 to June 30
HARARE, There were 9 registered and operating funeral assurance companies as at 30 June 2018, the same number recorded as at 31 March 2018.
All registered life assurers also wrote funeral assurance business for the half year which ended on 30 June 2018. The details of this business is in the life assurance industry report.
Gross
Contribution arrears top $600 million in 2017, Public sector entities constitute bulk of the arrears
Own correspondent
Vic Falls – A significant amount of the contribution arrears to pension funds which are now topping US$600 million are owed by the public sector entities which include local authorities and state owned entities, the Insurance and Pensions Commission (Ipec) has said.
Contribution
Insurance sector challenged to tap into non-traditional products
Own correspondent
Vic Falls- Minister of Public Service, Labor and Social Welfare Sekai Nzenza has called on the insurance sector to employ innovation and tap into the non-tradition micro insurance products to as a solution to massive company closures among a plethora of problems the sector is facing.
The prevailing economic situation
Policy administration is a fundamental business function for any insurer. The stakes are high in ensuring consistent customer service delivery across the operational value chain; failure could result in complaints being lodged with the ombudsman, reputational damage, and ultimately the loss of business. Angelique Strumpher, Administration Manager at SilverBridge, examines how outsourcing can help
Compiled by Insurance24
HARARE, Thanks largely to its property-casualty business, major insurer Allianz enjoyed a 20.6% rise in operating profit in the third quarter of 2018.
From €2.5 billion in the same period last year, the group’s operating profit climbed to €3 billion, with the Germany-headquartered firm citing factors such as strong premium growth and lower natural catastrophe claims.