State of the Pension Fund Industry- Issue 2 of 2021
4 Decades On – How Well Has the Corporate Defined Contribution Pension Regime Fared!
(Part II of a Series)
In this second and final part of our two-part series on the topic, we explore the long array of quick fixes that have been rolled out to address the shortcomings, as highlighted in Part I, of the current corporate Defined Contribution (DC)
IPEC to regulate NSSA, Medical AID Societies
Staff Reporter
The National Social Security Authority and Medical Aid Societies and any other persons conducting insurance business will now be subject to regulation by the Insurance and Pensions Commission (Ipec), once amendments to the bill are passed into Law.
This comes after government, through a Cabinet meeting yesterday, approved the Insurance and
Inflation ramps up volume of premiums written
Staff Writer
HARARE, ZIMBABWE’S insurance industry continues to contend with extremely challenging operating conditions, Fitch Solutions, said in its summary Zimbabwe Insurance Report.
The report noted that the country’s economy has struggled for several years,
Our valued readers today we publish the first series of the State of the Pension Fund Industry report by RIMCA. Please note we will be publishing a continuation of the series every month.
State of the Pension Fund Industry- Issue 1 of 2021
4 Decades On – How Well Has the Corporate Defined Contribution Pension Regime Fared!
(Part I of a Series)
AN accidental discovery of a loophole in a piece of
THE ZAPF 4TH QUARTER 2020 MAGAZINE
THE COVID 19 pandemic will be with us for an unknown period. This is the new normal. It has called for an absolute new way of doing business. Pension Funds have to adapt to the new changes in order to survive the ongoing macro-economic turbulences. Read through the ZAPF 4th quarter magazine, to get an insight, on how the sector is adapting to new ways
Broker’s premium income in massive growth
Staff Reporter
HARARE, Premium income for the quarter ended September 30, 2020 for the insurance brokers increased by 785% in nominal terms to $2,4 billion from $268.68 million recorded during the comparative period driven by gradual premium increases in line with inflationary trends.
Net
IPEC applauds funeral assurance sector for dignified send-offs
Staff Writer
HARARE, INSURANCE industry regulator, IPEC has applauded the funeral assurance sector for the role they are playing in giving dignified send-offs loved ones even under difficult circumstances brought about by the Covid 19 pandemic.
Grace Muradzikwa, the Commissioner Insurance, Pension & Provident Funds, said the Commission,
Life Reassures GPW respond to premium increases
Staff Writer
HARARE, The volume of life reassurance business written, in terms of Gross Premium Written (GPW), increased by 528,70% from ZWL$12.54 million reported for the nine months-ended 30 September 2019 to ZWL$78.84 million as at September 30, 2020.
Ipec, in its 9 months report on Life Reassurers, said the growth in GPW was attributable to an increase
Rise in Covid-19 deaths could overwhelm an under-capitalised funeral insurance industry
HARARE – The surge in COVID19 cases and related deaths has stretched the capacity of the funeral assurers. According to Zimbabwe Association of Funeral Assurers (ZAFA) general manager Taka Svosve, the demand for the funeral services is on an upward trajectory with capacity in an undercapitalized sector currently
HIGHLIGHTS: Short-term insurance sector for the nine months ended 30 September 2020
Staff Writer
HARARE, Total Gross Premium Written (GPW) by short-term insurers for the Zimbabwe dollar denominated business amounted to ZWL4.63 billion, reflecting an increase of 634.94% from ZWL629.97 million reported for the comparative period in 2019.
The total business written by reinsurers increased by 599.23%