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%
Cassava Insurtech business revenue grows
Staff writer
HARARE, Cassava Smartech’s revenue for its Insurtech business grew 131% for the period ended November 30, 2020, compared to Q2 on driven by a strong growth in short term insurance business which registered 165 increase on Q2 revenues.
This was also driven by the companies high end comprehensive diverse product portfolio which span
Tassius Chigariro appointed Old Mutual Namibia CEO
HARARE, OLD Mutual Namibia has appointed Tassius Chigariro as its new group chief executive officer, with effect from the start of 2021.
Old Mutual Namibia’s current chief executive officer, Kosmas Egumbo, will take up a new position as executive responsible for Old Mutual’s life insurance and asset management companies across the rest
Funeral Assurers pleads for review of minimum regulatory capital
Staff Reporter
HARARE, THE Zimbabwe Association of Funeral Assurers (ZAFA) has pleaded with the sector’s regulator IPEC for a review of the sectors minimum capital requirement which it said was higher than fellow insurers who trade in more than one product.
Solomon Chikanda, the ZAFA president, told stakeholders at a breakfast meeting,
Government embraces a fully funded pension scheme
Staff Reporter
Government says it is moving from Pay as you go pension scheme to a fully funded pension scheme, which requires an equivalent of US$4,8 billion based on 2012 actuarial valuation report.
The objective is to gradually capacitate the Fund to ensure it attains its objective of promoting and protecting the pension contribution and rights of
Pension funds should respond to new normal: ZAPF
Staff Writer
HARARE, Pensions fund investments should respond to the new normal by diversifying into E –commerce while also lowering rentals to retain higher occupancy ratios, Insurance24 has learnt.
This comes as the impact of the lockdown on tenants’ businesses is set to have an adverse effect on rental income streams and spike the level of voids
Java spells out IIZ vision as he assumes presidency
Staff Writer
The Insurance Institute of Zimbabwe (IIZ) new president Rueben Java says will continue with initiatives already underway to explore ways to grow IIZ brand and ensure the standards of the institute are upheld.
Java takes over from Mapiye Chigorondondo and will head the institution for the 2020/21 term of office.
“I am taking over this
COVID-19 generates numerous scams
HARARE, COVID-19 scams have included supposed cures, fake testing sites and counterfeit personal protective equipment (PPE), Dr Katlego Mothudi, managing director of the Board of Healthcare Funders, a regional healthcare funders’ body, said last week.
Addressing an Association of Healthcare Funders of Zimbabwe all stakeholders’ webinar on health on Wednesday,