Baobab Re and FML accounts for 85% of Reinsurers premium income in Q1 2017
Insurance24 Reporter
HARARE, Reinsurers reported a negative growth of 23% during the first quarter to 31 March 2017 following a decline in business written to $1.12 mln compared to $1.44 mln same period in 2016.
The decline according to IPEC’s Q1 Life Assurance report is attributable to the continued predominance of non-risk
Insurance brokers record declining profitability in Q1 2017
Insurance24 Reporter
HARARE, Insurance brokers wrote $24.09 million in business for the quarter ended 31 March 2017, accounting for 35.31% of the total Gross Premium Written (GPW) for non-life insurers, however, was 2.02% lower than 24.59 mln written for the same period in 2016.
According to the Insurance and Pensions Commission (IPEC) first
CBZ Holdings insurance units profitable in H1 2017, group to expand insurance products
Insurance24 Reporter
HARARE, CBZ Holdings insurance units CBZ Life and CBZ Insurance were profitable during the first half year period ended 30 June 2017, at the same time adequately capitalized more than the proposed regulatory minimum.
Group chief executive officer Never Nyemudzo told an analyst briefing that CBZ
Funeral Assurance Industry registers $2.5 mln profit in Q1 2017
Insurance24 Reporter
HARARE, Gross Premium Written (GWP) for the Funeral Assurance Industry during the first quarter of 2017 grew 98.% to $39.81mln from same period comparable in 2016 at $36.26 million.
The Insurance and Pension Commission (IPEC) Commissioner Tendai Karonga in a presentation at the Zimbabwe Association of Funeral Assurers
The ZSE Monitor: Old Mutual in action, as Fidelity stand to lose $200 mln pre-tax profit?
Harare, Of the outright insurance companies listed on the Zimbabwe Stock Exchange (ZSE), only Old Mutual was in action in today’s session after trading $0.0006 stronger at $3.93. The insurance giant is due to announce its interims on 9 August 2017, amid the continued liquidity challenges that is impacting
Insurers, Fidelity Life and Zimre Holdings trapped in CFI Holdings shareholding debacle
Insurance24 reporter
HARARE, Fidelity Life Assurance may find itself in drenched position if Messina Investments successfully execute its bid to reverse the Langford Estates land sale, the transaction it has branded illegal.
Fidelity has since begun the necessary processes to commence construction of about 11
FBC Insurance seeks technology driven growth as it partners SSP Insurance
Insurance24 Reporter
HARARE, FBC Insurance in its quest for growth and lowering costs has partnered SSP Pure Insurance, a global provider of technology systems and solutions across the entire insurance industry.
According to the company’s website, SSP is a global provider of technology systems and solutions across the entire
The ZSE Monitor: FML among top movers, as Nicoz trade flat
HARARE, First Mutual Holdings Limited is among today’s top movers on the Zimbabwe Stock Exchange (ZSE) after adding $0.0020 to trade at $0.1140. Among the insurance companies, Nicoz Diamond also traded flat on $0.03 cents with 25 000 shares changing hands in a Monday session where no counter traded in the negative.
Old Mutual, Fidelity and
Bulk funeral companies defiant on minimum capital requirements
Insurance24 Reporter
HARARE, Only three funeral assurers Doves, First Funeral and Moonlight funeral companies were compliant with the $2.5 million minimum capital requirement as at March 2017.
Currently there are 9 funeral assurers with a total capital position of $38 530 000 as at March 2017, which is an improved position from $38 316
The ZSE Monitor: Insurance companies miss out on ZSE recovery
Harare, As the industrial index resumed the upward trend in mid-week trading session, only two insurance companies were active though with little contribution to the positive trajectory.
First Mutual Holdings traded flat at 11cents with a total 106 258 shares changing hands at a value of $11 688.33. On other hand, giant Old Mutual Plc was