Investment profit lifts First Mutual Holdings in six months to June 2017

Investment profit lifts First Mutual Holdings in six months to June 2017

Insurance24 Reporter

HARARE, First Mutual Holdings after tax profit for the six month period ended 30 June 2017 increased 63% to $4.3 mln compared to $2.6 mln same period in 2016 largely driven by increased investment income.

Group chief executive officer Doug Hoto told an analyst briefing that FML had an investment profit of

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ZHL / NSSA still engaged on NicozDiamond’s stake

ZHL / NSSA still engaged on NicozDiamond’s stake

Insurance24 Reporter 

HARARE, Zimre Holdings Limited (ZHL) says negotiations over the disposal of certain assets, that include a 30.03% stake in short term insurer Nicoz Diamond are ongoing.

Information is that the National Social Security’s Authority (NSSA) is the prospective buyer of the ZHL shares in order to increase its majority stake to 80.92%

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Sanlam, Zimnat’s parent company banks growth prospects on outside South Africa operations

Sanlam, Zimnat’s parent company banks growth prospects on outside South Africa operations

Insurance24 Reporter

South African insurer, Sanlam, who are the largest shareholder in local insurer Zimnat says growth prospects outside of South Africa remain more positive with the improvement in economic conditions likely to persist in the medium term across most regions where it operate.

Sanlam, a financial

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FML shareholders approve acquisition of NicozDiamond, as changes in management looms

FML shareholders approve acquisition of NicozDiamond, as changes in management looms

Insurance24 Reporter

HARARE, Management changes are now visibly looming at NicozDiamond and Tristarinsurance after shareholders of First Mutual Holdings (FML) approved at an EGM the acquisition of 80.92% the entire issued share capital of Nicoz which will result in merging of the two short term insurers.

FML group

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South African funeral assurer unveils a funeral cover product for Zimbabweans

South African funeral assurer unveils a funeral cover product for Zimbabweans

Insurance24 Reporter

HARARE, A South African funeral financial services company, Transafrica has unveiled a funeral cover product  known as Zim Transafrica Life targeted at over one million Zimbabweans living and working in that country.

The company which has other products that are specifically designed for Zimbabwean citizens

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Pension’s industry asset quality compromised by arrears: IPEC

Pension’s industry asset quality compromised by arrears: IPEC

Insurance24 Reporter

Harare- Total assets for the Pensions industry during the quarter ended 31 March 2017 amounted to $3.35 billion, however with a significant proportion of total assets totaling 15.27% of the asset base tied up in contribution and rental arrears.

“These two asset classes amounted to $462.99 million and $49.41 million

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Insurer Old Mutual commission 1.6 MW mini-hydro power plant

Insurer Old Mutual commission 1.6 MW mini-hydro power plant

Insurance24 Reporter

HARARE, Financial services group and insurance giant Old Mutual Zimbabwe has commissioned its 1.6 MW mini-hydro power plant in Manicaland which was constructed at an investment of $5 mln.

The Group has had several investments in the various sectors of the economy as part of diversification as a financial services group.

Insurance

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NicozDiamond Insurance gross written premium up 4% in H1 2017

NicozDiamond Insurance gross written premium up 4% in H1 2017

Insurance24 Reporter

HARARE, NicozDiamond Insurance Limited Gross Premium Written (GWP) increased 4.13% to $23.8 mln during the half year period ended 20 June 2017 compared to $22.9 mln same period in 2016 with the Zimbabwean unit contributing bulk of it at 78%.

According to Chairman James Karidza, NicozDiamond Zim grew 7.4% compared to

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Zimbabwe Insurance Brokers (ZIB) develops ‘Pothole’ insurance cover

Zimbabwe Insurance Brokers (ZIB) develops ‘Pothole’ insurance cover

Insurance24 Reporter

HARARE, The Zimbabwe Insurance Brokers Limited (ZIB) has introduced a pothole insurance product that covers certain damages on vehicles as a result of potholes on the roads.

Most roads in Zimbabwe, particularly in the urban centers are characterized with potholes which has seen several vehicles getting damaged.

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