Amended new insurance regulations gazetted
HARARE, Government has gazetted the new insurance regulations on capitalisation of insurance firms which were proposed during the 2016 National Budget.
According to the amended rules, the minimum unencumbered capital for life assurance business, including funeral assurance, will be $5 million. Minimum capital threshold for non-life business is $2 million.
Cash shortages leading to artificial claims inflation of 40%
HARARE, During the first quarter of 2017, Reinsurers reported a negative growth of 23% largely due to declining business written which was at $1.12 mln compared to $1.44 mln same period in 2016.
According to, IPEC’s Life Assurance report for the quarter the decline was attributed to the continued predominance of non-risk products in the
Insurers in subdued trading in Tuesday’s ZSE trading session
Insurance24 Reporter
HARARE, There was limited activity on the shares of insurance companies listed on the Zimbabwe Stock Exchange (ZSE) as only two counters Old Mutual Zimbabwe and First Mutual Holdings were active albeit on a losing and gaining streak respectively.
Giant Old Mutual retreated by $0.0025 to close at $4.0132 coming down
PSMAS introduces flexible plan targeted at informal sector
Insurance24 Reporter
HARARE, Premier Service Medical Aid Society (PSMAS) has unveiled a low cost, high benefit product called Shield Plan with subscriptions of $10 per month, per member, everyone can afford quality healthcare.
The product best suits the informal sector which now is the biggest employer in the country and the plan is
IPEC approves $800 million Prescribed Asset applications in last six years
Insurance24 Reporter
Harare-The Insurance and Pensions Commission (IPEC) says it has approved Prescribed Asset applications worth about $800 million covering various sectors of the economy during the past six year period and these range from housing, energy, food security and other infrastructure development projects.
Commissioner
Central Bank sets up $5 Fund to facilitate repatriation of dividends for foreign investors
Insurance24 reporter
HARARE, The Reserve Bank of Zimbabwe (RBZ) says it will establish a $5 mln Portfolio Investment Fund that will facilitate repatriation of dividends as well as sales by foreign investors.
Presenting the Monetary Policy Statement, Governor Dr John Mangudya said the Central Bank has noticed
Prescribed asset ratio deficit worries regulator, as IPEC seeks compliance
Insurance24 Reporter
Bulawayo, The insurance and pensions industry regulator, IPEC has challenged the Funeral Assurance Industry to develop a plan on how the industry intends to deal with the deficit on the prescribed asset ratio which is slightly above 1 percent way below the required 7.5 percent.
According to Commissioner
SECZIM launches capital market investor education campaign
HARARE, The capital market regulator, the Securities Exchange Commission of Zimbabwe (SecZim) has launched a capital market investor education campaign seeks among other things to help the average Zimbabwean to understand how to harness the stock market to build personal wealth.
The campaign running under the theme, ‘What’s Your Hustle’
African Trade Insurance (ATI) membership changing Zimbabwe’s risk profile: BIMHA
Insurance24 Reporter
Harare, Industry Minister Mike Bimha says Zimbabwe’s membership to the continental insurance agency; African Trade Insurance (ATI) is slowly changing the country’s investment and trade risk profile.
The ATI is Africa’s export credit agency which provides political risk and trade credit
About 70% of ZSE stocks funded by insurance companies and pension funds: IPEC
Insurance24 Reporter
HARARE, The Insurance and Pension Commission (IPEC) says almost 70% of Zimbabwe Stock Exchange (ZSE) stocks is funded by insurance companies and pension funds as institutional investors and these are probably the strongest local investors.
Commissioner of Insurance, Pension and Provident Funds Tendai