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e-Newsletter_16 July 2021

ZHL seek to strengthen Credsure

Staff Reporter

ZIMRE Holdings says it is targeting to grow Credsure market share and business through onboarding more underwriting management agency (UMA) with dynamic impact and strategies to acquire business that complements innovative customer propositions.

The group, after losing NicozDiamond to First Mutual Holdings is seeking to return to short term insurance through

Old Mutual seek to unbundle portion of Nedbank stake

Staff Reporter

OLD Mutual Limited has said it will unbundle a portion of its stake in Nedbank subject to relevant approvals.

According to a circular to shareholders, Old Mutual will unbundle all the Nedbank ordinary shares currently held by Old Mutual Emerging Markets Limited being 62,131,692 Nedbank ordinary shares and comprising 12,2 percent of

NicozDiamond GPW in massive growth

Staff Reporter

HARARE, Short term insurer, NicozDiamond says gross premium written (GPW) in 2020 grew by 669 percent to $2,07 billion driven by new business and revaluation of insurance portfolios in response to inflationary pressure, resulting in net earned premium growth of 680 percent.

Chairman Elisha Moyo said the group had an investment profit of $13,3 million

Nyaradzo to raise US$20 million for special purpose company Sahwira Agriculture

Staff Reporter

HARARE, Nyaradzo Life Assurance intends to raise a maximum of US$20 million through the issuance of a combination of Inflation Indexed Notes and Preference Shares during a five (5) year issuance window through its special purpose company Sahwira Agriculture (Pvt) Ltd for financing crop production for the

Fidelity Life moves to de-risk from Zim Market

Staff writer

HARARE, Fidelity Life Assurance says its strong balance sheet and diversified income streams provide offsetting stability and growth while its ability to de-risk from Zimbabwe by actively seeking opportunities in the region and beyond will also play a major role in prospects for the coming year.

While the board chair person Fungai Ruwende

FMHL gross premium written up 2% to $5,9 billion in 2020

Staff Reporter

HARARE, First Mutual Holdings (FMHL) gross premium written (“GPW”) for 2020 grew two percent to $5,9 billion as a result of organic growth on the existing portfolio and the continuous revaluation of insurance policy values in line with inflation to ensure clients had adequate cover.

Rental income for the year also amounted

ZBF Holdings gross insurance premiums up 7% in Q1, 2021

Staff Reporter

HARARE, ZB Financial Holdings group gross insurance premiums increased by 7% with the related insurance expenses reducing by 11 percent between first quarter 2021 and first quarter 2020.

ZB Holdings insurance units include ZB Life and ZB Re and the group has over the years been looking at setting up offshore insurance services.

“The

CABS/ European Investment bank unveil EUR 15 million covid resilience facility

Staff Reporter

HARARE, THE European Investment Bank (EIB) has agreed to support EUR 15 million of new long term financing for entrepreneurs and businesses across Zimbabwe in cooperation with the leading local bank CABS.

The first ever partnership between the European Investment Bank, the world’s largest international