Capital levels should be directly related to level of risk: ICZ
By Insurance24
HARARE, Insurance industry is expecting an improved outcome in 2018 on the back of the new political and economic order but says a risk based approach regarding regulatory capital should be in place.
The Insurance sector had been affected by economic hardships which have affected payments of claims while on the other hand
Government re-looks at another National Reinsurance Company after ZHL exit
By Insurance24
HARARE, Government is re-looking at the creation of and supporting a National Reinsurance Company with a legal cession status as in other regional countries but insurance companies are still expected to play a developmental role in communities they operate.
Cession refers to the portions of the obligations in
Baobab Re now Emeritus Re as ZHL consolidates reinsurance operations
Insurance24
HARARE, Zimre Holdings Limited (ZHL) has completed the rebranding exercise of its reinsurance units as part of the wider strategy to consolidate the assets under Emeritus International of Botswana with intent to list in that market.
Emeritus Reinsurance managing director Leo Huvaya told Insurance24 at the rebranding of
NMB banc assurance unit above target since inception, group targets new insurance products
By Insurance24
HARARE, NMB Bank’s banc assurance is targeting to introduce new insurance products into the market to consolidate the growth achieved since introduction of insurance services into the group’s operations 5 years ago.
Banc assurance Manager Ellen Chigodora told Insurance24 that during 2017, the
Nicozdiamond moves closer to de-listing as FMHL finalizes offer to minorities
By Insurance24
HARARE –First Mutual Holdings (FMHL) now with a controlling stake in short term insurer at 80.92% is working on an offer to minorities which is expected to close by June this year.
After completion of the acquisition of the majority stake, FMHL is now moving to acquire the remaining 19.08% as required by
Government urges tobacco farmers to insure their crop, as TIMB approves 4 service providers
By Insurance24
HARARE, Government says envisages a model where tobacco farmers grow out of debt and be self-reliant, thus it becomes incumbent upon the farmer to insure their crop to cushion themselves from the debilitating effects of climate change.
Acting President Constantino Chiwenga officially opening the
UGI Malawi rebounds as Nicozdiamond records profit in FY17….Process to merge with Tristarinsurance commences
By Insurance24
HARARE, A rebound in United General Insurance (UGI) Malawi and a modest growth by the Company (Nicoz Zimbabwe) lifted short term insurer, Nicozdiamond performance during the year ended 31 December 2017.
Group chairman James Karidza in statement of the financials said the performance
Tax bill causes surge in small business optimism and new insurance needs
By Insurance24
HARARE, The tax reform bill passed by Congress in December 2017 has caused a wave of optimism and positivity among small business owners in the US. Many are eagerly anticipating the 20% net business income deduction which will enable them to inject more funds into business investment.
A recent poll of 2,700
Insurance broker’s earnings increase 81.22%, as Minerva Risk Solutions gross 19.90% of net brokerage commission
By Insurance24
HARARE, Insurance brokers earned $1.4 mln during the quarter ended 30 September 2017, which translate to an 81.22% increase from $77 000 same period in 2016 and this was driven by a 10.01% increase in other income for the quarter.
During the period, there were 32 insurance
CBZ Holdings insurance units in 5.2% income contribution, both units profitable in 2017
By Insurance24
HARARE, CBZ Holdings insurance units made a 5.2% income contribution to group’s total income which amounted to $175 mln in 2017, a 10% increase from $159 mln in 2016.
The Group’s insurance units, CBZ Life and CBZ Insurance were both profitable during the year and the underwriting income was at