Self-administered funds records $2,68 billion surplus in 2019
Staff Reporter
HARARE, Self-administered funds recorded a financial surplus of $2.68 billion for the 12 months ended 31 December 2019, reflecting a nominal increase of 527.16% from $427.80 million for the same period in 2018.
IPEC in its quarterly report for the 4th quarter 2019, said the comparative increase was on account of higher
Deposit Protection Corporation increases cover level
Staff reporter
HARARE, Pursuant to the provisions of section 41(1) of the Deposit Protection Corporation Act [Chapter 24:29], the public is hereby advised that effective 1 January 2020, the deposit protection cover level has been increased from ZWL1,000 (One Thousand Zimbabwean Dollars) to a maximum of ZWL10,000 (Ten Thousand Zimbabwean Dollars)
Insurance and Pensions Apex Council pleads to re-dollarisation
Staff reporter
HARARE, The Zimbabwe Insurance and Pensions Apex Council (ZIPAC) has pleaded with the Finance minister to allow the sector to re-dollarise in the face of a growing informal sector.
Zipac board chair Tassius Chigariro, yesterday told the industry during the inaugural insurance and pensions industry breakfast meeting which
Government commit to reform insurance and pensions sector
Staff Writer
FINANCE Minister Mthuli Ncube has said government is seized with legal reforms targeted at the legislation governing insurance and pensions and expect three bills to be sent to parliament by the first half of the year.
In his inaugural meeting with industry players, Ncube said the bills have taken too long at drafting stage.
“I
Zimbabwe’s insurance industry to suffer low product demand
Staff Reporter
ZIMBABWE’s insurance industry is expected to endure low demand for a broad range of insurance lines owing to a tough economic environment, a research report has revealed.
BMI Research, which is part of Fitch Solutions, in a report, Zimbabwe Insurance Report, (summary) said similar to other sectors of the country’s
FBC Insurance unveils instant third party insurance product Yako
Staff Reporter
HARARE – FBC Insurance has launched “Yako” an innovative, game changing and fully digital third party insurance service which is poised to change the face of insurance in the country.
The innovative and world-class service, which is now available on the market, allows vehicle owners to purchase a secure and affordable
IPEC seeks to restore confidence in insurance pensions industry
Staff Reporter
HARARE- GRACE Muradzikwa, the IPEC Commissioner, has said one of the commission’s 2020 strategic objective was to restore and build confidence in the insurance and pensions industry following loss of value by consumers.
She was speaking at a graduation ceremony for the 2019 class of the IPEC Journalism Mentorship
Life assurers flex muscles
PHIL MHLANGA
HARARE-ZIMBABWE’S funeral assurance companies find themselves in a precarious position following mounting threats from life assurance firms who are now writing 90% of funeral business in the country.
The strong presence of life assurers in the funeral market appear to be stoking the situation, making it difficult for dedicated funeral assurers to stay afloat
Poor underwriting methods threat to insurers
Staff writer
Poor underwriting methods have been identified as one of the threats to the survival of insurance companies and have serious hindrance to service delivery.
Delivering her keynote speech at the ongoing workshop hosted by Insurance Council of Zimbabwe (ICZ) and Association of Insurers and Reinsurers of Developing Countries, Elizabeth Wyns-Dogde,(