Introduction

1. The Insurance and Pensions Commission (IPEC) was invited to appear

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

Life Assurers grow in half year despite challenging environment

HARARE, The Life Assurance sector showed sign of growth in premium income and asset base for the half year ended 30 June 2018, despite the challenging economic environment.

Latest IPEC report shows that Gross premium written (GPW) increased to $200 million, representing a 16% increase from $173.1 million reported in the comparative period

SHORT TERM (NON-LIFE) INSURANCE REPORT FOR THE QUARTER ENDED 30 JUNE 2018

Executive Summary

HARARE, Total Gross Premium Written (GPW) by non-life insurers amounted to $144.18 million for the half year ended 30 June 2018, reflecting a 15.44% increase from $124.90 million reported for the comparative period in 2017.

On the other hand, GPW reported by non-life reinsurers declined from $60.19 million for

Economic situation threaten IIZ college construction project

HARAR, Economic instability is threatening the completion of insurance college being constructed by the Insurance Institute of Zimbabwe (IIZ) within the stipulated timelines, Insurance24 has learnt.
Completion of the college had been earmarked for end of 2019 with in excess of US$500 million having been set aside for the project.

Government redirect 5% of Third Party Insurance Cover  to an Accident Compensation Fund

HARARE, Government will effective December 01, 2018 redirect 5% of the third part insurance cover to an accident compensation fund whose modalities are yet to be announced.
This has been driven by the increase in the number of accidents on the country’s roads, which have resulted in serious injury and,