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
Zimpost targets insurance business growth as it unveils insurance products
By Insurance24
HARARE, Postal services giant, Zimpost is set to unveil insurance products under the banner Post Insurance as the company seeks to diversify its product portfolio and take advantage of the thriving insurance sector.
In an interview acting managing director, Sifundo Moyo confirmed the development saying that Post
Restructuring and cost realignment pays off for ZHL in 2017
Insurance24
Harare, In 2016, Zimre Holdings embarked upon a restructuring exercise and adopted various cost re-alignment initiatives, resultantly that mirrors Group a strong performance achieved for the year ended 31 December 2017.
As part of the restructuring, the Group realigned assets to focus of the reinsurance and property business and
Fidelity Life Assurance premiums dip as new business drives Vanguard Life Assurance
By Insurance24
HARARE, Fidelity Life Assurance of Zimbabwe group gross insurance premiums for 2017 at $14.24 mln were 7% lower than $15.38 mln in 2016 largely on shrinkage of the business by the anchor company.
Fidelity’s 2017 financial year was characterized by a restructuring exercise that was aimed at re-positioning
Transafrica expand product offering for Zimbabweans living and working in South Africa
By Insurance24
HARARE, South Africa’s funeral services company, TransAfrica is set to introduce an new life product, the Zimlife Plus beginning next month largely targeted for Zimbabweans living and working in that country.
The new product is largely an extension of a funeral cover product known as Zim Transafrica
Not a good outing for insurers on Thursday
By Insurance24
HARARE, Trading on the Zimbabwe Stock Exchange (ZSE) was characterized by thin volumes as activity remained low. Old Mutual which was the only insurer to trade was flat at 571c ahead of its annual general meeting this afternoon.
Only 300 Old Mutual shares exchanged hands. Other insurers ZHL, FMHL, Fidelity and Nicozdiamond shares witnessed
NSSA on-boards CSD as Business Partner….Insurer, First Mutual Dematerialization Ratio at 91%
By Insurance24
HARARE, The National Social Security Authority (NSSA) has became the first self-administered pension fund to be on-boarded as a Central Securities Depository (CSD) Business Partner.
The CSD Business Partner product is targeted at self-administered pension funds and other qualifying organizations
Brokers say some Banc assures and agents shortchanging consumers on rights to choice
Nelson Gahadza
HARARE, The Insurance Brokers Association of Zimbabwe (IBAZ) says conditional selling of insurance being practiced by some banks goes against consumer rights to choice, as clients should be given an option to choose insurance brokers of their choice when they are being given loans.
IBAZ in a statement
Allied Insurance set for privatization: Finance Minister
By insurance24
HARARE, Allied Insurance is among state enterprises and parastatals that government has set for privatization as part of the wide-ranging parastatal reform agenda which also include liquidations and mergers.
Finance and Economic Development Minister Patrick Chinamasa at a press conference said that the Industrial Development Corporation
IPEC crafts risk based capital framework
By Insurance24
HARARE, The Insurance and Pensions Commission (IPEC) is now a gear up towards the development of a Risk Based Capital Framework with the Commission seeking a consulting firm to assist in the process.
Ipec spokesperson Lloyd Gumbo told Insurance24 that the framework is intended to determine the capital that each insurance company should hold based