COVID-19 ushers in new normal for short term -insurers
Staff Reporter
HARARE, PREMIUM income flows into short-term insurance industry will be negatively affected by individual and corporate loss of income exacerbated by low production due to the covid-19 restrictions, liquidity challenges and loss of purchasing power among the many challenges.
Financial resources of most corporates will be directed
Pension funds invests in US$8 mln hotel construction
Staff Reporter
HARARE, Local pension funds have funded the development of an USD8 million luxurious hotel in Victoria Falls, over and above an initial injection of feasibility funding, provided by an international investor as part of the National Tourism Recovery and Growth Strategy.
The Mbano Manor Hotel Victoria Falls which was officially opened
Pensions industry pleads for waiver in payment of levies as Covid 19 takes effect
Staff Reporter
HARARE, The pensions industry is pleading for clemency on statutory requirements with relaxation of deadlines for submission of IPEC returns and a waiver in the payment of IPEC levies on the fore as the industry bows down to the effects of covid 19, Insurance24 can report.
The industry says these are trying
Women takes over ZAPF leadership
Staff Reporter
HARARE, The Pensions and Insurance industry has always been a male dominated space, but things are changing with the new executive posts at the Zimbabwe Association of Pensions Funds (ZAPF), shifting the lenses through which the industry can been viewed.
Rutendo Magorimbo and Cynthia Mugwira are now steering the ship at ZAPF (up to the next AGM in
Pension funds trustees should adopt stakeholder approach
Staff Reporter
HARARE, Pension fund trustees must adopt a stakeholder approach to navigate the current business and economic realities in order to build long term value in a postCOVID-19 world as the pandemic has led to a global health and economic crisis that will have drastic short- and long-term impacts on organizations’ business models.
This
Tendai Karonga, ICZ’s Executive Officer
ICZ GUARANTEES INSURANCE COMPENSATION UNDER MIP
Victims of road traffic accidents involving foreign registered vehicles have been accessing compensation under the Motor Insurance Pool (MIP) upon lodging their claims. Unfortunately, some claims have gone unpaid due to non-fulfilment of requirements.
Some policyholders or victims have not been lodging claims
IPEC temporarily closes offices as employee tests positive for Covid 19
Staff Writer
HARARE, THE Insurance and Pensions Commission (Ipec) has closed two of its offices to allow for deep cleaning and disinfection of the offices after one of its employees tested positive of the corona virus.
The Commission joins several companies, supermarkets which have closed branches and offices as preventive measures
WFP URGENTLY SEEKS INTERNATIONAL SUPPORT TO PREVENT MILLIONS OF ZIMBABWEANS PLUNGING DEEPER INTO HUNGER
ROME– With COVID-19 aggravating an already severe hunger crisis in Zimbabwe, the United Nations World Food Programme (WFP) today appealed for an additional US$250 million to support a rapidly expanding emergency operation for millions at-risk.
WFP projections indicate that by year’s end,
ZSE confirms trading resumption without three dual listed counters
Staff writer
THE Zimbabwe Stock Exchange (ZSE) has confirmed the resumption of trading on August 03, without three international listed firms namely Old Mutual, PPC and SeedCo International.
Justin Bgoni, the ZSE CEO, in a statement, affirmed the Finance Ministry’s statement which gave the green light to resume trading next week,
Cabinet approves amendments to Deposit Protection Corporation Act
Staff Reporter
ZIMBABWE’s Cabinet yesterday considered and approved the Principles to amend the Deposit Protection Corporation Act [Chapter 24:29] as presented by the Minister of Finance and Economic Development.
According to the cabinet minutes, the amendments to the Act will provide a governing legal framework for banking institutions