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
Altfin Life Assurance commence dividend payment to creditors
By Insurance24
HARARE, Altfin Life Assurance has commenced the payment of dividend to its creditors following its liquidation in 2016.
The company was placed under liquidation in 2016, a year after insurance regulator, the Insurance and Pensions Commission (IPEC) cancelled its operating license for failing to meet prescribed minimum
capital
Zimnat Life Assurance targets civil servant and private sector in low cost life cover
By Insurance24
HARARE, Insurer, Zimnat Life Assurance has unveiled a low cost cover, the Zimnat Security Plan targeted at government employees and private sector. Upon registering for the plan, the first month will be free.
“In the event of your passing on, your family will get a cash payout of $10 000,” says
Marsh combines Middle East and Africa businesses
HARARE, Global leader in insurance broking and innovative risk management solutions Marsh, which has also presence in Zimbabwe, has unified its operations in Africa and the Middle East under the leadership of a new regional CEO.
The restructure comes after recent reports that the global broker is planning to reduce layers of management in a bid to
Old Mutual lines up two new power projects…Asset Management unit increases stake in Nampak
By Insurance24
HARARE, Financial services group and insurance giant Old Mutual Zimbabwe has lined up two new power projects much similar to the commissioned 1.6 MW Kupinga mini-hydro in Manicaland province.
The Kupinga project was commissioned last year at an investment of $5.8 mln into the project.
Meanwhile,
FBC Re sees growth in demand for cyber risk cover
By Insurance24
HARARE, FBC Holdings says demand for cyber risk cover through its reinsurance unit FBC Re has increased significantly since inception in 2015 as more business and individuals have realized risk associated with the digital world.
Group chief executive officer John Mushayavanhu told Insurance24 at sidelines of its results FY17 presentation
FBC Re Mauritius commence operations, as FBC Insurance GPW increases on Liberty health insurance
By Insurance24
Harare, FBC Holdings says has finalized the setting up of FBC Reinsurance Mauritius with the new unit expected to commence operations before end the first half of 2018.
The unit will be 100% owned by FBC Reinsurance Ltd. Chief executive officer John Mushayavanhu at the company’s announcement