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
Funeral assurers struggle to comply with minimum Prescribed Asset ratio
…as profit before tax fall 70.63%
HARARE – The Funeral Assurance sector’s profit before tax in the first quarter of 2019 declined by 70.63% from $1.97 million recorded in the comparable period last year to $580 000 due to an increase in operating expenses as the environment is characterised by inflationary pressures.
During
Counting the costs post violent riots
By Insurance24
HARARE, The recent wave of political riots and violence countrywide left a trail of destruction to both companies and individual properties. Several company equipment buildings, motor vehicles and buses were destroyed.
In the aftermath of this, who is counting the losses? Insurers or victims?. Speaking to the Insurance Council of Zimbabwe (ICZ)
Introduction
Zim insurers digital transformation slow : Regulator
HARARE, Insurance and Pension Commission (Ipec) says the country’s insurance industry will not be able to able to enjoy the benefit of transformational technologies until it begins to offer a true digital basic service to its customers.
While the local market is moving in that direction although on a slow pace with most of the big players
ZSE Bull run buoys Life assurer’s assets base
HARARE, Total industry assets for life assurers and assets supporting life reassurance surged 6, 47% to stand at $2,80 billion as at 30 September 2018 from $2,64 billion reported as at 30 June 2018, the Insurance and Pensions Commission (IPEC) says in its quarterly report.
This was on the back of the significant rise in value of equities which
Funeral assurance industry net profit increase 10% in nine months 2018
HARARE, Profitability for the Funeral Assurance Industry during the nine months of 2018 increased 10,6% to $3,25 mln from $2,9 mln same period in 2019, largely driven by an increase in gross premium written.
According to the regulator’s (IPEC) Q3, 2018, report for the industry, declining management expenses at $2,4 mln from $2,9
WAICA Re’s entrance to spur competitiveness: IPEC
By Insurance24
HARARE, THE Insurance and Pensions Commission (IPEC) sees an improvement in the insurance industry capacity through on boarding of WAICA Re in the sector as premium will be retained locally.
WAICA RE , a sub-regional reinsurance group headquartered in west Africa W last week launched in Zimbabwe through colonnade
Bogus legal aid societies on the brink
HARARE, The Insurance and Pensions Commission (ipec) has directed all Legal Aid Societies to register with the Commission in a bid to protect policy holders from bogus societies.
In his 2019 budget, Finance minister Mthuli Ncube announced that all legal aid societies and medical Aid societies will now be regulated by Ipec.
However, there are several legal aid