GeneInsure/Zinara partners for self-service vehicle licensing service
Staff Writer
HARARE, Genetic Financial Services, trading as Gene-Insure, in partnership with ZINARA have introduced a self-service vehicle licensing machine as part of continuous product innovation for convenience.
GeneInsure operates as an insurance Underwriting Management Company to Zimnat General Insurance, specializing in tailor-made
Old Mutual names permanent CEO after lengthy wrangle
HARARE, Financial services firm Old Mutual Ltd has announced the appointment of acting chief executive officer Iain Williamson as its permanent head.
The move ends more than a year of uncertainty over who will lead one of South Africa’s biggest insurers following the suspension and subsequent
Lion Microfinance Limited curatorship extended
Staff Writer
HARARE, Zimbabwe bank depositors’ insurer, the Deposit Protection Corporation (DPC)’s curatorship for Lion Microfinance Limited has been extended up to July 31, 2020.
The Reserve Bank of Zimbabwe on July 26, last year, placed the institution under the curatorship of the DPC for a period of three months, citing under capitalization and
CBZ Holdings net underwriting income up 20% in 2019,
……….As Bank launches money transfer center
Staff Writer
HARARE, CBZ Holdings net underwriting income grew 20,8% in 2019 to $69 million compared to $57 million in 2018 largely driven by growth in gross premium insurance.
The group’s 2019 financials shows that gross premium insurance grew 34% to $199 million from $148 million recorded
FBC Insurance units in hyperinflation induced losses
Staff Writer.
HARARE, Zimbabwe’s unrelenting hyperinflationary environment has hit hard FBC Insurance and Reinsurance units with both recording losses in the year ended December 31 2019 although its full impact on traditional business was reduced by the in-house investments strategies that increased investment income.
FBC insurance recorded an
Short term insurers first quarter total GWP up 520 percent
Staff writer
HARARE, Total Gross Premium Written (GPW) by short-term insurers amounted to ZWL$817.93 million for the quarter ended 31 March 2020, reflecting an increase of 521.59% from ZWL$131.57 million reported for the comparative period in 2019.
The total business written by short-term re-insurers increased from ZWL$60.63 million for the
Old Mutual suspends equity and balanced funds transactions
Staff writer
HARARE, Old Mutual Zimbabwe has with immediate effect suspended transacting (deposits and withdraws) in the OMUT equity and balanced funds
following the suspension of trading on the Zimbabwe Stock Exchange (ZSE).
ZSE on Monday said it had suspended trading “until further notice” in compliance with a government directive after
Fidelity Life to pursue regional opportunities to de-risk from Zim’s hyperinflation
Staff writer
HARARE, Fidelity Life Assurance of Zimbabwe says it will continue exploring and pursuing opportunities in the region for geographical diversification and de-risking
Sanlam takes full ownership of FBN Insurance in Nigeria
Sanlam is pleased to announce that it has acquired the remaining stake in the Nigerian insurance business FBN Insurance from its partner, FBN Holdings Plc (FBNH). This gives the Group 100% ownership of FBN Insurance Limited (FBNI) and its subsidiary, FBN General Insurance Limited.
The transaction, conducted through Sanlam’s business cluster
Cimas announces cover for COVID-19 positive members
Staff Writer
HARARE, Cimas Medical Aid Society has announced that it will provide any of its members who test positive for COVID-19 with medical aid cover for subsequent treatment and clearance tests at the end of their treatment.
The cover, which is subject to the benefit levels provided for in the member’s medical aid package, includes admission