ZEP-RE underwrites $950 mln in premiums since inception…private sector shareholding grows to $225 mln
By Insurance24
HARARE, The COMESA reinsurance company, ZEP-RE (PTA Reinsurance Company) which commenced writing business in 1993 says has cumulatively to date underwritten over $950 million in premiums and paid out over $450 million in claims.
ZEP-RE was created by an agreement of Heads of State
IPEC warns public on engaging unregistered individuals and organizations
By Insurance24
HARARE, Insurance and pensions regulator, The Insurance and Pensions Commission (Ipec) has warned the public against engaging individuals and organisations purporting to be insurance or pensions experts as most of these people are not qualified and registered as financial advisers.
In a statement Ipec said the
Short term insurers urged to abide by investment guidelines…..as GWP and investment income drive massive profitability in 2017
By Insurance24
HARARE, The Insurance and Pensions Commission of Zimbabwe (Ipec) says insurers should abide by the investment guidelines in order to sustain their capacity to liquidate their contractual obligations on time.
As reported in the Ipec’s Non-Life quarterly
ZAFA targets increased uptake of funeral assurance products
By Insurance24
HARARE, The Zimbabwe Association of Funeral Assurers (ZAFA) says most funeral assurance products are micro-products which are affordable even to the vulnerable groups of society, but due to lack of educational campaigns, the products end up with the wrong people.
ZAFA General Manager Taka Svosve told Insurance24 on the
Hundreds attend IPEC Mount Darwin’s awareness campaign on insurance and pensions as $25 mln remain unclaimed
By Insurance24
HARARE, The Insurance and Pensions Commissions (Ipec) Saturday’s awareness campaign on insurance and pensions in Mount Darwin’s Madondo business area drew hundreds of people who leant on first hand information from the regulator as well as service providers.
Insurance
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,