Equities investments buoys Pensions industry base in H1, 2018
HARARE, Pensions industry asset base increased 5,2% to $4,38 billion in the 6 months to June 30 2018 from $4.16 billion in Q1 2018 driven by an increase in the value of quoted equities $1.60 billion in H1 from $1.38 billion Q1 2018.
Insurance and Ipec commissions’ (IPEC) H1 report shows that the total assets translated to
Funeral industry employees get 3% salary and wages increase
HARARE, The Funeral Industry and Employers Association of Zimbabwe (FIEAZ) has reached a collective bargaining agreement which will see a 3% increase of salaries and wages for all funeral industry employees.
According to at latest government gazette, the agreement was reached with the National Employment Council for the Funeral Industry.
Investments boost Nyaradzo’s funeral business market share
Own correspondent
Vic -Falls, Nyaradzo Life Assurance Company’s investments into capacity over the years has seen it commanding 70% market share in funeral business and 26% in life insurance to date.
The group has been enlarging its footprint from funeral life insurance, events management, furniture and many others as it looks
Old Mutual plc unbundles from Nedbank
HARARE, London-based Old Mutual Plc (OMP) has now unbundled majority of its shareholding in the issued share capital of Nedbank Group Limited (Nedbank) to ordinary shareholders of Old Mutual following the conclusion of initial phases of unbundling of the group.
The Nedbank unbundling is the final step of the Managed Separation, which was materially completed
Price to be the key driver for reinsurance buyers at 1/1: Survey
HARARE, Overall, almost 60% of respondents to our global reinsurance market survey feel that price will be the most important counterparty feature to reinsurance buyers at the January 2019 renewals.
As part of the Reinsurance News and Artemis global reinsurance market survey, we asked industry participants to rank, by order of
importance,
Residential stands boost Fidelity Life in H1
By Insurance24
HARARE, Strong revenue performance from residential stands sales and a solid growth in premiums lifted Fidelity Life out turn for the half year ended June 30, 2018.
Stand sales amounted to $12 million while gross written premium went up 43 percent as a result of refocusing the sale and distribution function.
“Therefore, the two revenue lines
By Insurance24
HARARE, Digital transformation initiatives have become an important topic of discussion in boardrooms around the world. For insurers, embracing this shift can be especially beneficial as customers become more selective around product offerings and how technology is used to benefit them. Jonathan Jardim, senior software developer at SilverBridge Holdings, examines this.
“As can be
ZHL to capitalize Credsure…as group profits decline in H1, 2018
HARARE, Zimre Holdings Limited says it will strengthen Credsure capital base and operationalize Emeritus Reinsurance to raise capital for consolidating its regional footing as the company continues to implement its strategy premised on strengthening and realigning reinsurance, insurance and property operations for growth profitability,
Motor and personal insurance drive non-insurers growth in Q1 2018
HARARE, Non-life insurers reported a 10, 3% growth in total Gross Premium Written (GPW) in Q1 2018 to $75, 3 million $68, 2 million attained same period in 2017.
The increase in GPW was mainly attributable to growth in business generated from motor insurance, as well as personal liability insurance classes.
According to
Businesses are urged to build resilience to climate change impact…. Africa: A hub for innovationHARARE, The likely failure of efforts to meet internationally agreed targets for global warming require businesses to act now to adapt to the risks related to climate change. New report from Zurich outlines risk management recommendations for companies to best respond, and is released as Climate Week NYC begins. |
| With measures to slash greenhouse gas emissions set to miss their mark, businesses should act now and prepare for a changing climate, according to a report by Zurich Insurance Group (Zurich). Published ahead of Climate Week NYC, a gathering of investors, governors and CEOs in New York this week, it recommends a three-step strategy to help companies strengthen their defenses.
The report, ‘Managing the impacts of climate change: risk management responses,’ provides risk management tools, and outlines approaches and best practices to help businesses respond to the growing threat of climate change. “Our analysis suggests that the current level of efforts to keep global temperatures from rising over 2-degrees Celsius above pre-industrial levels will likely fail, so businesses should prepare for the physical consequences of a warming planet. Companies must know the magnitude of their climate risk, so that they can prioritize actions based on their particular circumstances,” said Alison Martin, Group Chief Risk Officer and Member of the Executive Committee. “It’s crucial for businesses to develop a climate resilience adaptation strategy and act on it now.” The report examines two scenarios: one based on the failure to act on climate change, resulting in a steady rise in temperature and rising physical risk; the other assumes that effective measures are taken to reduce carbon emissions, with increasing transition risks to be managed in the shorter term. It also details three steps companies can follow to develop a climate resilience adaptation strategy:
Scientists agree that climate change will likely lead to more intense hurricanes with higher rainfall amounts and rising sea levels, which will result in more dangerous storms surges and flooding. As a risk management expert, underwriter and investor, Zurich understands the risks of climate change and supports the transition to a low-carbon economy. Ms. Martin said: “At Zurich, we encourage building more resilient critical infrastructure, which can help our customers and governments adapt to climate change. We firmly believe in prevention as the best form of protection. Adaptation costs for climate change effects may be significantly lower than damage costs. For example, through our Flood Resilience Program, Zurich has demonstrated that every dollar spent on flood prevention measures on average saves five dollars on recovery efforts should a flood event occur.” Ms. Martin said she hoped the Zurich paper can provide the necessary guidance for businesses to address their exposures to climate change risks. |
Zurich Insurance Company
HARARE, With a population of more than 1.2 billion people, 54 countries, and foreign direct investment (FDI) totalling $59 billion in 2016, Africa presents organisations across industry sectors with ample business