Environmental, Social, and Governance (ESG) and Sustainability in Insurance

By Enock Rukarwa

Traditionally, the primary concern of investors has been the level of returns provided by an investment, with general ambivalence towards how those returns have been generated.

Now, the Insurance industry is seeing a drive towards responsibility in its stewardship of investor money, with investors seeking to

IFRS 17 Implementation in the Zimbabwean Insurance Sector

By Stella Mupatsi and Taurai Jamu

Zimbabwean insurance companies are currently in the process of implementing International Financial Reporting Standard 17 (IFRS 17), a new accounting standard applicable to insurance contracts and investment contracts with discretionary participation features.

This standard replaces

Why Umbrella Funds are Part of the Solution to Our Pension Fund Woes!

GANDY GANDIDZANWA & ITAI MUKADIRA

With one of the world’s highest unemployment levels, an ultra-expensive financial services sector, and an SMEs-driven economy, the Zimbabwean pension fund industry is most perfectly placed for a speedy-but-structured transitioning into a robust and dynamic umbrella-fund-dominated sector. continue

Africa remains underinsured: Mthuli

Staff writer

Finance Minister Mthuli Ncube has said Africa remains desperately underinsured, with an average insurance penetration of 2.7% in 2022 against a global insurance penetration of 7%.

In his speech at the ongoing Insurance and Pensions Regulators Retreat for Africa yesterday,he said it was surprising to note that the uptake of Bitcoins and other virtual

ICZ eyes increasing rural insurance penetration

 Staff Writer

THE Insurance Council of Zimbabwe (ICZ) says it is planning to increase the insurance penetration rate from the current 2,6% by equipping the rural farming community with knowledge about insurance.

Speaking at a recent handover of prizes for the Rural Schools Insurance Awareness Essay Competition, ICZ vice chairperson and chairperson of

Pension Funds Infrastructure Investments – Who Benefits?

The contentious issue surrounding infrastructure development investing for pension funds is the question – is it the role of the private sector, pension funds in particular, to develop infrastructure? Is this not instead the sole responsibility of the government of the day? Further, is it not that pension funds’ first responsibility

Ipec directs pension industry to cushion pensioners

Staff Writer

The Insurance and Pension Commission (Ipec) has immediate directed the pension industry to apply ZW$36 000 in the determination of

commutation and preservation amounts for pensioners as it seeks to cushion pensioners from the ever deterioration pension benefits.

The monthly pension applicable for commutation and preservation purposes

ICZ makes timely Covid-19 donations

Staff Writer

HARARE, The Insurance Council of Zimbabwe (ICZ) donated 40,000 litres of diesel to the Civil Protection Unit which will be used through the Ministry of Health and Child Care and 270 grocery hampers worth $925,000.

The fuel donation was presented to President Emmerson Mnangagwa by the Chairman of ICZ, Patrick Kusikwenyu.

Kusikwenyu said that the third

Dear reader, please find attached the Zimbabwe Association of Pensions Fund (ZAPF) second quarter 2021, E-magazine…Happy reading….ZAPF Q2_Magazine f