Property and equity investment portfolios gains boost Fidelity H1 turnover
Staff Reporter
HARARE, Fidelity life Assurances’ (Fidelity Life) total revenue grew by 143%, closing the half year at ZW$62,5M, compared to ZW$25,8M same period last year driven by fair value gains on the Group’s property and equity investment portfolios.
The value gains of ZW$29,9M were recorded during the period
GCR upgrades Zimnat General Insurance rating to A+
Global Credit Rating (GCR) has revised Zimnat General Insurance’s national scale financial strength rating to A+(zw) Stable Outlook, from its previous rating of A-(zw).The financial strength rating (formerly claims paying ability) went up two notches.
GCR is the leading emerging market focused ratings agency, rating the full spectrum of security
Credit rating upgrade to spur growth
Emeritus got reinsurance credit rating to –A from BBB, 1. This comes a year after Zimre Holdings Limited (ZHL) consolidated its reinsurance operations under Emeritus Reinsurance International, as it sought to innovatively grow its market share and profitability. The rebranding,
“Air travel insurance on a gradual increase”-NicozDiamond
Noah Kupeta
Zimbabwe’s insurance industry is currently expanding and penetrating air travel insurance in their quest to outshine and compete with regional and international markets regardless of a myriad of challenges such as adverse weather conditions, political upheavals and unfavourable macro-economic fundamentals.
NicozDiamond Business
ZIMRE Holdings profit in massive jump
HARARE, ZIMRE Holdings after tax profit for the six months period to June 30, 2019 recorded a massive jump to $117,6 million compared to $766 832 in 2018 same period driven by profitability across its operations.
Benjamin Khumalo, the group chairman, said profitability at Zimre Property Investments (ZPI, domestic insurance operations and the group’s associates
Twice-fired CEO shows up, Old Mutual dismisses reinstatement order
HARARE, The high-profile tug-of-war at financial services group Old Mutual Limited (OML) isn’t looking to be over anytime soon.
Anyone who’s keeping score will know that former/current – at this point it’s not clear, really – chief executive Peter Moyo was twice issued an employment termination notice. Between those two ‘sackings’,
Inflationary costs weigh on FMHL H1 operating profit
Staff Writer
HARARE, First Mutual Holdings operating profit for the interim period to June 30, 2019 declined 16% to $4,5 million compared to $5,4 million same period last year largely driven by increased costs.
The company’s financials show that total expenses increase 126% to $39,3 million from $17,2 million same period comparable, due to a 112%
Emeritus International gets –A credit rating
HARARE, The Global Credit Rating agency has upgraded Emeritus Reinsurance credit rating to –A from BBB, reflecting the group’s claims paying ability and strong balance sheet.
Emeritus Reinsurance is a professional pan-African reinsurer specialising in providing reinsurance and risk management solutions to the direct insurance markets.
The group has
Zimnat partners Access Finance to provide bureaux de change
HARARE, Zimnat customers can now obtain bureau de change services at selected Zimnat branches across the country, following the establishment of a partnership between Zimnat General Insurance and Access Finance for the provision of these services.
Zimnat offers businesses and individuals a variety of products that include motor insurance,
FBC still keen on Mauritius Re
Staff Writer
HARARE, FBC Holdings says plans to set-up reinsurance unit in Mauritius remains on course. The unit will be 100% owned by FBC Reinsurance Ltd.
Chief executive officer John Mushayavanhu at the company’s announcement of its 2019 half year results, said the group has now obtained the required approvals.
With Zimbabwe currently faced with foreign currency shortages,