ZIM economy to rebound in 2021: Finance Minister
Staff Writer
HARARE- Zimbabwe’s economy is expected to shrink by 4,5% this year owing to the fallout from the COVID-19 pandemic and a brutal climate change-related drought, finance minister Mthuli Ncube said on Thursday.
Announcing the midterm 2020 budget and economic review, Ncube said the mining sector will contract by 4%, although he projected
Zim’s inflationary environment dents insurance industry trust
Staff Writer
HARARE, Zimbabwe’s inflationary environment is seen as an impediment for the insurance industry to gain trust of insurance users, particularly in life segment.
BMI Research, in its Q2, 2020, Zimbabwe insurance report, said the environment has also distorted growth rates in the insurance industry.
“While premiums will ostensibly
Brokers struggle to meet minimum capital thresholds
Dorcas Chigodho
HARARE, Zimbabwe’s RE/insurance brokers and funeral assurers are struggling to attain gazetted minimum capital thresholds with the regulator, Ipec, having already demanded their capitalization roadmaps.
End of November 2020, FINANCE minister Mthuli Ncube reviewed minimum capital requirements for the insurance sector, indicating that
LIFE ASSURANCE SECTOR REPORT: Executive Summary
See report to follow
HARARE, Gross premium written(GPW) for direct life assurance companies for the quarter ended 31 March 2020 stood at ZWL$578 million, representing a nominal increase of 426% from ZWL$110 million reported in the comparative period in 2019.
The increase in GPW for the reporting period was mainly due to significant increase in premiums
Law Society/IPEC goes after unregistered legal aid societies
Staff writer
HARARE, The Law Society of Zimbabwe (LSZ) and Insurance and Pensions Commission (IPEC) of Zimbabwe are collaborating with the police in an effort to weed out illegal aid societies amid indications that despite their enormous numbers they are not registered with the regulator.
In a joint statement, LSZ and Ipec said a number of
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26 pension funds dissolve in 2019
Staff Writer
HARARE, Financial challenges prevailing in the country has seen 26 pension funds undergoing dissolution in 2019 with four dissolution’s having already been finalized.
Naturally, the performance of the insurance and pensions industry follows the fortunes of the economy and Zimbabwe has going through plethora of challenges ranging
Ipec working to ensure prescribed assets status is given to value preserving assets
Staff writer
HARARE, The Insurance and Pension Commission (Ipec) says its working with government to ensure prescribed assets status is given to value preserving assets, Insurance 24 can report.
Zimbabwe’s present inflationary environment has increased the risks associated PA investments, particularly in as
Pensions sector assets base increase 80% in March quarter
Staff writer
HARARE, Investment property and equities in the pensions sector continued to reprice faster than all other asset classes in Q1 2020 diluting exposures to these assets, Insurance 24 can report.
The industry closed the quarter with a total asset base of ZW$29,81 billion as at 31 March 2020, an increase of 80,33% in asset values recorded
A FULL COMMENTARY ON THE PENSIONS AND PROVIDENT FUNDS BILL 2019:
Submissions to the Parliament of Zimbabwe
Nobert Musa Phiri
Partner: Muvingi & Mugadza Legal Practitioners (Member of the Alliott Group)