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,
ZSE turnover reach $3.5 mln on Econet block deal…Old Mutual resurgence continues
By Insurance24
HARARE, The All Share index’s bullish trend continued on Tuesday closing 0.37% higher at 104.25 on the back of heavyweight gains. A block trade in Econet saw the day’s turnover rising to $3.4 million from $ 1.5 million in the previous session.
Seed producer Seedco added $0.0846, PPC
Insurance agencies aren’t doing enough to attract millennials
Compiled by Insurance24
HARARE, Work-life balance, opportunities for advancement, and a stable career path – who wouldn’t want to land a job with these qualities? And yet, millennials are still not entering the insurance industry in the numbers needed to replace a retiring workforce.
“It’s a great field, but I really don’t
Brainworks exits Get Sure Life Assurance in a $7 mln transaction
By Insurance24
HARARE, Brainworks capital management has entered into a share sale and purchase agreement with Nhaka Life Assurance Company Private Limited, in terms of which Brainworks will dispose 100% equity investment in
Get Sure Life Assurance private limited comprising 200 million ordinary shares to Nhaka for a total
Insurers must tighten up cyber exclusions: Horgan
Compiled by Insurance24
HARARE, The underwriting community needs to do more due diligence on policy wordings to make sure cyber exclusions in property and other lines of business will actually apply when an event occurs, according to Paul Horgan, head of North America commercial insurance at Zurich NA.
In an interview, the executive told The Insurance
Pension Funds should improve on disclosures to gain more trust: Govt
By Insurance24
Vic Falls..Government wants Pension funds to improve their disclosure of information to both trustees and members to reduce complaints against their activities.
Speaking at the 43 annual congress of the Zimbabwe Association of Pension Funds (ZAPF) Vic Falls, Minister, Local Government, Public Works and National Housing,
Boost sets reinsurance panel to cover InsurTech partners
Compiled by Insurance24
HARARE, Boost Insurance has set in place a reinsurance facility led by Nephila Capital and backed by Markel Digital and RenaissanceRe to support the InsurTech launch platform it has created, The Insurance Insider understands.
The arrangement secures a key element needed by New York-based Boost to begin helping InsurTech
Insurers share activity remain low…Ipec commissioner reportedly suspended
By Insurance24
HARARE, Insures listed on the Zimbabwe Stock Exchange (ZSE) continue to witness none or minimal activity on their shares except for Old Mutual which registers activity almost every trading day.
On Thursday, of all the insurance stocks, OM was the only one in activity. Others, ZHL, Fidelity, who released their