Life Assurers profitability lowers in 2017 on increased claims…..Gross Premium up 6%… Old Mutual Life and Nyaradzo account for 72% of total net premium income
By Insurance24
HARARE, The life sector’s profitability in 2017 decreased 56% from $127.33 million in 2016 to $55.9 million by 31 December 2017 largely as a result of total costs which went up 42% from $219.38 million prior year 2016
Brace yourself for big insurance hikes says official
Compiled by Insurance24
HARARE, An insurance industry leader believes that Obamacare premiums will see “substantial” increases next year.
Blue Cross Blue Shield Association vice-president Kris Haltmeyer said that the premium increases are a result of the GOP’s tax bill last December, which repealed Obamacare’s individual mandate. He also
ZHL adopts new business model for Credsure
By Insurance24
HARARE, Zimre Holdings (ZHL) has re-modeled the business thrust of Credsure to become an underwriting management agency as the group among other things seeks to lower business acquisition costs.
Group chief executive officer Stan Kudenga said at an analyst briefing that the transaction was consummated at a cost of $1.5 mln.
“People may ask
Zimpost in partnership with Nicozdiamond unveils Post Insurance with exciting promotion
By Insurance24
HARARE, Postal services giant, Zimpost in partnership with short term insurer Nicozdiamond has unveiled an enhanced partnership which saw the birth of a new insurance business, Post Insurance, underwritten by Nicoz.
Managing director Sifundo Moyo at an event to unveil the new brand as well as a
International experts to unpack role of trade credit insurance in reviving Zim economy
By Insurance24
HARARE, A high level conference on the role of trade credit insurance in promoting and supporting increased trade will be held next month (June 8) at Cresta Lodge in Harare with the aim of helping promote greater understanding of trade credit insurance and the critical role that it can play in the
Only 9% of Zimbabweans are on Health Insurance and Medical Aid covers: ICZ
By Insurance24
HARARE, Only 9% out of a total population estimated at around 14 mln Zimbabweans, which translate to only about 1.3 mln are insured on health insurance and Medical aid covers with membership mainly coming from formal sector.
Giving an overview of the country’s Health Insurance Industry at a Zimselector/Ipec
Zim rallies ECASSA to establish social security schemes for women
Victoria Falls – (New Ziana) – The Zimbabwean government has said African social security associations must come up with effective schemes and strategies to address the needs of women, who account for the bulk of employees on the continent’s informal sector.
Addressing delegates attending the East and Central African
The opportunity cost of insurance compliance
Compiled by Insurance24
HARARE, Regulatory compliance is a must for any South African business operating in the insurance market. The cost of operational compliance and risk management is substantial and is incurred across the business value chain which includes technology infrastructure, human capital, and professional services to mention a few. According
CBZ Holdings underwriting income increase 31.6% to $2.5 mln in Q1 2018
By Insurance24
HARARE, CBZ Holdings underwriting income units increased 31.6% to $2.5 mln during the quarter ended 31 March 2018 compared to $1.9 mln same period in 2017. This was largely supported by investment in new products unveiled during the period.
The Group’s insurance units include CBZ Insurance which as at September
Over 600 pension funds financially unsound, risk closure
By Insurance24
Vic Falls-Insurance And Pension Commission (Ipec) says it has identified over 600 financially unsound pension funds that it might need to close down to avoid continuous erosion of values.
There has been continuous shrinkage of assets emanating from high administration expenses, increasing liabilities not matching assets,