Nicozdiamond moves closer to de-listing as FMHL finalizes offer to minorities
By Insurance24
HARARE –First Mutual Holdings (FMHL) now with a controlling stake in short term insurer at 80.92% is working on an offer to minorities which is expected to close by June this year.
After completion of the acquisition of the majority stake, FMHL is now moving to acquire the remaining 19.08% as required by
UGI Malawi rebounds as Nicozdiamond records profit in FY17….Process to merge with Tristarinsurance commences
By Insurance24
HARARE, A rebound in United General Insurance (UGI) Malawi and a modest growth by the Company (Nicoz Zimbabwe) lifted short term insurer, Nicozdiamond performance during the year ended 31 December 2017.
Group chairman James Karidza in statement of the financials said the performance
Insurance broker’s earnings increase 81.22%, as Minerva Risk Solutions gross 19.90% of net brokerage commission
By Insurance24
HARARE, Insurance brokers earned $1.4 mln during the quarter ended 30 September 2017, which translate to an 81.22% increase from $77 000 same period in 2016 and this was driven by a 10.01% increase in other income for the quarter.
During the period, there were 32 insurance
CBZ Holdings insurance units in 5.2% income contribution, both units profitable in 2017
By Insurance24
HARARE, CBZ Holdings insurance units made a 5.2% income contribution to group’s total income which amounted to $175 mln in 2017, a 10% increase from $159 mln in 2016.
The Group’s insurance units, CBZ Life and CBZ Insurance were both profitable during the year and the underwriting income was at
CABS looks up to ‘parent’ Old Mutual to introduce more affordable schemes
By Insurance24
HARARE, Central African Building Society, (CABS) says it is looking up to Old Mutual to introduce more Insurance schemes aligned to the on-going economic hardships as uptake of its schemes have remained subdued over the past few years.
Cabs offers both long term and short term insurance. Cabs MD Simon Hammond
Short term insurance industry carried own cross…Low appetite for insurers on ZSE…Nssa pokes private pension schemes
By Insurance24
HARARE, Trading on the Zimbabwe Stock Exchange (ZSE) reversed Monday’s losses to close in the positive on Tuesday but in a rather quiet session. Insures were quite with activity limited only to Old Mutual which traded flat at 542c. Other sector players ZHL, Fidelity,
Sanlam Emerging Markets in resilient operational performance in 2017
By Insurance24
HARARE, The Sanlam Group performance for the year ended 31 December 2017 reflects a resilient operational performance with substantial growth in Sanlam Emerging Markets and Sanlam Investments.
In 2015 Sanlam, the South African group entered the Zimbabwean market by acquiring a 40% stake in Masawara Plc. Sanlam therefore
ZHL’s BaobabRe leads market in terms of GWP as Group Rebrands
By Insurance24
HARARE, Zimre Holdings Limited’s re-insurance unit BaobaRe was market leader in term of Gross Premium Written (GWP) for the third quarter ended September 2017 having written $2.95 mln which was however lower than $3.19 mln same period in 2016.
According to regulator IPEC quarterly report, First Mutual Re with a GPW of
Self-Administered Pension Fund partners CDC
By Insurance24
HARARE, A self-administered pension fund is set to on-board a product on the Central Securities Depository (CSD) trading system this month, becoming a second partner for Chengetedzai Depository Company (CDC) since its launch.
According to a CSD update seen by Insurance24, the CSD Business Partner product is targeted at self-administered
Premier Medical Aid Society moves to consolidate turnaround strategy
By Insurance24
HARARE, Premier Service Medical Aid Society (PSMAS) as part of monitoring its turnaround strategy will conduct a customer satisfaction survey throughout the country to identify gaps in its service delivery.
PSMAS is the country’s oldest medical aid mutual society and following years of mismanagement among other challenges,