ZIMRE Holdings appoints consultant for re-branding
Insurance24
HARARE,ZIMRE Holdings Limited (ZHL) says the mono rebranding of all ZHL Group reinsurance SBU’s both domestic and regional has reached an advanced stage with a consultant already hired to drive the re-branding process.
The two phased exercise is part of the Group’s new strategic thrust which also include bringing regional reinsurance
Fidelity Life Assurance survives the Langford Estate dispute
Insurance24
HARARE, Insurer, Fidelity Life Assurance yesterday survived the risk of losing the Langford Estate after CFI Holdings shareholders rejected the resolution at an Emergency General Meeting (EGM).
The EGM followed a requisition by Willoughby’s Investments –which holds more than 10% of CFI, to reverse the disposal of 81% Langford
Fidelity Life appoints Chief Finance Officer
Insurance24
HARARE, Fidelity Life Assurance has appointed Patricia Zvandasara as Group Chief Finance Officer effective 01 October 2017. She has worked in various local and international organisations and extensive experience spanning over 22 years particularly in the insurance industry.
“She served in various senior leadership capacities where she drove
FML to capitalise merged Nicoz and Trista insurance, 17.9% of $17.52 mln reserved for cash component of transaction
Insurance24
HARARE, First Mutual Holdings says of the raised $17.52 mln capital through a renounceable rights offer, approximately 17.9% had been set aside for the estimated cash component of the transaction to acquire Nicoz Diamond issued share capital with the balance being utilised
Insurers battle for top recognition at 2017 Zimbabwe Service Excellence Awards
Insurance24
HARARE, Insurers, Zimnat, Nicoz Diamond, Old Mutual and Fidelity Life have been nominated for the 2017 Zimbabwe Service Excellence Awards in the Insurance sector category and will battle it out at the awards ceremony to be held on the 20th October, 2017.
The Zimbabwe Service Excellence Awards are organised and
CFI Holdings EGM to seal fate for Fidelity Life’s Langford Estates transaction
Insurance24
HARARE, Insurer, Fidelity Life Assurance may lose the Langford Estate, a land comprising of 834 hectares, if Willoughby’s Investments, a substantial shareholder in CFI Holdings succeed in reversing the transaction at an extra-ordinary general meeting to be held next month.
The transaction which was consummated
FML raise $17.25 mln in rights offer
Insurance24
HARARE, First Mutual Holdings rights offer raised $11.67 mln after a subscription rate of 67.68% at the close of the offer. The underwriter’s portion was $5.57 mln, accounting for 32.32% to bring the subscription rate to 100%.
The proceeds are targeted at financing the acquisition of a 80,92 stake in NicozDiamond as well as capitalising the operations.
Doves and Ruvimbo lifts the Funeral assurance industry net premiums in H1 2017
Insurance24
HARARE –The Insurance and Pensions Commission (Ipec) says funeral assurance industry players should take advantage of opportunities presented by micro-insurance products which is a potential growth area for the industry.
This follows the industry’s declined in Technical profits for the half year period to
Insurer First Mutual Holdings exits RTG
Insurance24 Reporter
HARARE, First Mutual Holdings Limited has reached an agreement with the National Social Security Authority (NSSA for disposal of 19.957% shareholding in hotelier Rainbow Tourism Group (RTG) to NSSA.
NSSA is already a major shareholder in FMHL and the deal reached in August 2016.
“FMHL is advising its shareholders that an agreement has been
Central Bank issues RBZ 7% Savings Bond, individuals, insurers invited
Insurance24 reporter
HARARE, Zimbabwe’s Central Bank has issued a 7% RBZ Savings Bond which it earlier announced in the Mid-Term Monetary Policy Statement Review.
“The Reserve Bank of Zimbabwe hereby invites investors, individuals, companies, pension funds and provident funds, insurance companies, life mutuals, financial institutions