Agriculture insurance way to go

HARARE, AGRICULTURE insurance plays a significant role in creating value for the Zimbabwean economy and society.

As a largely agricultural-based nation, Zimbabwe heavily depends on its agricultural sector for food production, employment generation, and export earnings.

However, farming activities are often exposed to various risks such as unpredictable weather patterns,

Unpaid non-resident benefits continue to be a challenge: Ipec

Staff Writer

The Insurance and Pensions Commission (Ipec) says the unpaid benefits to non-resident pensioners cumulatively stood at ZWl$3,2 billion (US$600000) as at Q3 2023.

The amount owed to about 3055 non-resident pensioners increased by 1098% in nominal terms during the period with the number on pensioners having gone up to 3115.

Over

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