Foreign currency for selected insurance products: IPEC
Noah Kupeta
HARARE, The Insurance and Pension Commission (IPEC) has announced that the Reserve Bank of Zimbabwe (RBZ) has approved denominated policies on selected products in line with industry market demands.
The development has been hailed by various stakeholders as positive considering the current hyperinflationary environment in Zimbabwe as
Time for African insurance industry to digitalise
Noah Kupeta
ZimSelector.Com Business Development Director Zelina Francis explaining the significance of digitalising insurance in Africa.
Of fake claims, double claims, money laundering in the insurance sector
Noah Kupeta
HARARE, The insurance and pension industry is sometimes faced with serious problems such as fake claims, double claims and sometimes money laundering. But why do people commit themselves to such crimes? Does the insurance and pension industry have control mechanisms of transparency and accountability?
Did you know?
Noah Kupeta
Did you know that home insurance is a policy designed for the homeowner and covers buildings of the home, including out buildings, walls, fences and gates, boreholes and swimming pools, tennis and basketball courts against the perils of fire, lightning, explosion, storm, impact ,malicious damage, theft of fixtures and fittings and breakage of fixed glass?
But many people
Equities market boost Pension industry profitability
Staff Reporter
HARARE, Gains on the equities market drove the Pension industry’s profitability after recording a surplus of $1,16 billion for the half year period ended June 30, 2019 compared to $121,02 million same period prior year.
Ipec, in its second quarter pensions report said fair value gains amounted to $828,74 million largely due to a
Funeral assures record negative working capital in Q2
Staff writer
HARARE, The latest Insurance and Pensions Commission report paints a bleak picture on the future of funeral assurers who have been hit hard by the ongoing liquidity crisis, recording a negative working capital during Q2 2019.
The country has been struggling with liquidity challenges after a government ZW$400 million mop-up left markets
Insurance uptake surge
Noah Kupeta
HARARE, The uptake of life insurance policies in Zimbabwe has significantly increased due to comprehensive digital communication efforts by most insurance companies.
Several insurance companies revealed that the uptake of life insurance products has surged by more than 90%, despite the recent upward revision of premiums. Life insurance involves the pooling of resources
ZHL still pursuing the elusive USD… in Botswana
ZIMRE Holdings says it is still pursuing the Emeritus International transaction to raise at least $10 million in Botswana to support regional operations.
This is part of the group’s restructuring exercise which commenced in 2016, where the group is targeting to raise a total $30 million through a phased approach.
“Further to the cautionary announcement
Grace Muradzikwa: IPEC commissioner
Only 52,29% of insured funds administered active: IPEC
HARARE, OF the total 897 pension’s funds under administration, only 469 are active, representing 52,29% of the total insured funds administered.
According to the Insurance and Pensions Commission (Ipec) report for the quarter ended 31 March 2019, the high number of inactive funds was mainly due to some sponsoring
Pension industry posts $48.72 million surplus for Q1 2019
HARARE, The Insurance and Pensions Commission (IPEC) released its 2019 first quarter report on the pensions industry. The sector faces growing challenges in value erosion prompted by the currency devaluation and the effects of the adverse economic environment.
The inflationary impact on disposable income looks to be affecting the uptake from