IPEC takes insurance and pensions to communities ahead of Insurance Awareness Day
By Insurance24
HARARE, There’s something that most people don’t talk about, don’t think about, and when the end comes it snaps right around and hits them square in the face. Their homes and cars remain unprotected, and there’s nothing to save them when the hammers comes down. Insurance Awareness Day reminds you
Life Assurers profitability lowers in 2017 on increased claims…..Gross Premium up 6%… Old Mutual Life and Nyaradzo account for 72% of total net premium income
By Insurance24
HARARE, The life sector’s profitability in 2017 decreased 56% from $127.33 million in 2016 to $55.9 million by 31 December 2017 largely as a result of total costs which went up 42% from $219.38 million prior year 2016
Only 9% of Zimbabweans are on Health Insurance and Medical Aid covers: ICZ
By Insurance24
HARARE, Only 9% out of a total population estimated at around 14 mln Zimbabweans, which translate to only about 1.3 mln are insured on health insurance and Medical aid covers with membership mainly coming from formal sector.
Giving an overview of the country’s Health Insurance Industry at a Zimselector/Ipec
Zim rallies ECASSA to establish social security schemes for women
Victoria Falls – (New Ziana) – The Zimbabwean government has said African social security associations must come up with effective schemes and strategies to address the needs of women, who account for the bulk of employees on the continent’s informal sector.
Addressing delegates attending the East and Central African
Over 600 pension funds financially unsound, risk closure
By Insurance24
Vic Falls-Insurance And Pension Commission (Ipec) says it has identified over 600 financially unsound pension funds that it might need to close down to avoid continuous erosion of values.
There has been continuous shrinkage of assets emanating from high administration expenses, increasing liabilities not matching assets,
Pension Funds should improve on disclosures to gain more trust: Govt
By Insurance24
Vic Falls..Government wants Pension funds to improve their disclosure of information to both trustees and members to reduce complaints against their activities.
Speaking at the 43 annual congress of the Zimbabwe Association of Pension Funds (ZAPF) Vic Falls, Minister, Local Government, Public Works and National Housing,
Insurance Bill still awaits promulgation into law….Insurer Old Mutual led risers on Thursday’s session
By Insurance24
HARARE, Insurance and Pensions Commission says the proposed Insurance Bill is still awaiting promulgation into law upon which the Commission will commence enforcing some of the new regulations.
The proposed Insurance Bill is set to harmonize the Insurance and Pensions Commission
Agriculture insurance slowly re-evolving…Insurers should do more on transparency
By Insurance24
HARARE, Agriculture is as risky as any business. The sector is prone to losses from natural disasters, thus as a result, farmers and insurance companies should co-exist in order to minimize the risk of losses.
In Zimbabwe, uptake of insurance services by farmer is generally low as farmers largely view
Is Insurance industry doing enough to curb fraudulent claims? as Zimbabwe Insurance Crimes Bureau comes into effect.
By Insurance24
HARARE, Fraudulent insurance claims are not peculiar to Zimbabwe alone, but has become a Global phenomenon. But is the Insurance Industry doing enough to curtail this?. In Zimbabwe alone, fraud claims constitute estimated 30 to 40 percent of claims paid annually.
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Insurance firm, Nicoz Diamond Insurance Limited, (NDIL) says it has received a notification from First Mutual Holdings Limited (FMHL) of its intention to make a mandatory offer to buy out the remaining minorities by scheme of arrangement.
Last year, FMHL received regulatory approval for the acquisition of the entire issued share capital of NicozDiamond Insurance, and subsequently the National