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
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
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
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
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
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
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
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
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
GANDY GANDIDZANWA & ITAI MUKADIRA
The Defined Contribution system has been faulted, rightly or wrongly so, on many fronts. To imagine it though being blamed for not taking real care of its very own, at the time of their most need, feels more like an imagination overstretch. Sadly, it is the reality.
Forty years on, following those mass conversions from DBs to DCs of the early 1980s, we can now