Staff Writer
AFC Insurance says it is targeting to grow market share through provision of inclusive products mainly through agriculture insurance.
The AFC insurance company started operations in 2022 after being granted a licence by the Insurance and Pensions Commission.
AFC Insurance managing director, Cuthbert Masukume in an interview during an insurance index payout event recently said the company
Staff writer
WAICA Re Zimbabwe has joined the representative body for all life insurance companies in Zimbabwe, the Life Offices Association.
As a leading reinsurer, Waica Re is expected to bring valuable expertise and insights to the life assurance community, increasing capacity and the pool of reliable securities available to the industry.
The development comes as the company has now established
Staff Writer
Banking institution, CABS, a member of the Old Mutual Group recorded a surplus of Zig110,3 million in the half year to June 30, 2024 despite a challenging operating environment.
Group managing director Mehluli Mpofu in a statement of the financials said the performance demonstrated resilience in the reporting period in an environment characterised by high ZWL inflation in the first quarter
Staff Writer
Zimre Holdings Limited profit for the interim period to June 30, 2024 surged 52% to US$6,8 mln compared to US$4,5 mln in 2023 driven by robust revenue growth and effective cost containment.
In the period under review, the group achieved a 16% increase in total income, reaching US$15.0 mln, primarily driven by impressive growth in insurance contract revenue and substantial fair value gains
Staff Writer
Fidelity Life Assurance (FLA) says growth in USD business drove the group’s insurance contract revenue which rose 277% to US$8,2 million in the interim period to June 30, 2024 compared to US$2,2 million in prior year.
Group chairman Livingston Gwata in a statement of the financials said innovative product sales brought in new business and organic expansion as customers increasingly
Staff Writer
HARARE, First Mutual Holdings (FMHL) says the existing economic environment requires continuous engagement with customers to maintain the relevance of products.
FMHL is a financial management group in Zimbabwe offering services in risk management, wealth creation, wealth management, insurance, reinsurance, and property.
Group chief executive Douglas Hoto, in a statement of financials for
Staff Writer
FBC Holdings says its insurance subsidiaries are trading profitably, despite the challenging operating environment, and expects the trend to continue during the second half of the year.
The group’s insurance units are FBC Reinsurance Limited and Eagle Insurance Company Limited. The group also has FBC Reinsurance Botswana, which specialises in providing reinsurance solutions and risk
Staff Reporter
Old Mutual Limited says higher shareholder portfolio profits in the Zimbabwean business were main contributors to the group’s headline earnings for the quarter to June 30, 2024 relative to adjusted headline earnings (AHE).
In a trading statement, ahead of publishing its half year financials, the group however, excluded the Zimbabwe profits from adjusted headline earnings (AHE), saying
Staff Writer
HARARE, ZB Financial Holdings (ZB) says its insurance unit ZB Life Assurance is working on a new retail insurance system to replace the old Premia system, and the project is expected to be finalised in FY2024.
The unit posted a profit of ZiG333.579 million in the half year to June 30, 2024, compared to ZiG632,489 billion in 2023, and total assets increased in real terms from ZiG752,995
Enacy Mapakame
Correspondent
HARARE, As technological advances continue to enable businesses to optimise their operations, these same businesses are now experiencing “headaches” in the form of cybersecurity threats.
So prevalent is the threat that it creates scope for heightened calls to businesses to invest in cybersecurity insurance with haste.
Speaking at the recently held Insurance Institute