First Mutual Holdings disputes auditors forensic report
Staff writer
FIRST Mutual Holdings Limited (FMHL) says it is not in agreement with the findings in the BDO Chartered Accountants report and in the regulator’s Corrective Order and thus has instituted legal proceedings to protect its legal rights.
The Insurance and Pensions Commission (Ipec) last month issued an FML with an order for corrective
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ZHL to hedge on regional investments
Staff Writer
ZMIRE Holdings says it plans to solidify its regional investments and improve their underwriting capacity through continuous capital injections as it seek to hedge against country risk.
In addition, the group said it will be pursuing new markets within the region, harvesting its insurance value chain, and broadening its ecosystem through group synergies
Continental RE to host awards in Zimbabwe
Staff Writer
Harare, Pan-African Reinsurer-Continental (Re) Insurance Plc, will host the 9th session of its journalism awards in the resort town of Victoria Falls in Zimbabwe this year, Insurance 24 reports.
The ceremony, slated for mid-April, will be graced by selected journalists from across Africa.
In a statement, Continental
Muthe appointed ICZ’s new chief executive
Staff Writer
HARARE, The Insurance Council of Zimbabwe (ICZ) has appointed seasoned insurer Donald Muthe as its substantive chief executive officer, Insurance24 has learnt.
Muthe, who is succeeding Tendai Karonga, is coming in with a wealth of experience in the sector.
Muthe has over 35 years of professional experience in leading
Ecocash’s InsurTech expands its footprint
Staff Writer
HARARE, Ecocash Holdings says the net premium written for its InsurTech business in the quarter to November 30, 2023, increased by 116% compared to the prior period as the business also expanded its reach in rural areas.
In a trading update, the company said the business unit focused on enhancing its overall customer experience.
FMHL shareholders further notified of the pending mandatory offer
Staff Writer
Harare, CBZ Holdings (CBZH) says it is still determining a fair price to complete the transaction in which it is in the process of acquiring a 36,35% stake in First Mutual Holdings (FMHL).
In a cautionary statement, group chief governance officer Rumbidzai Jakanani said CBZH is still in the
First Mutual Holdings cautions shareholders
Staff Writer
First Mutual Holdings (FMHL) says corrective measures being instituted on its subsidiary First Mutual Life as part of the ongoing forensic audit by the Insurance and Pensions Commission (IPEC) will have a material impact on the price of the company’s shares.
On April 5, 2022, stakeholders were advised that the Insurance and Pensions Commission
Zimre Holdings and First Mutual Holdings emerge as the top ZSE performers in 2023
Staff writer
Insurance companies Zimre Holdings Limited (ZHL) and First Mutual Holdings Limited (FML) emerged as the top performers on the Zimbabwe Stock Exchange in 2023, recording a US$ annual return of 414% and 358%, respectively.
This is ahead of the 21% average return for the stock market