Sitting trustees who fail to attain the mandatory Certificate of Proficiency (C.O.P) face disqualification
HARARE, The Insurance and Pensions Commission (Ipec) through Statutory Instrument 80 of 2017 is mandated to oversee and control pension funds in order to avert poor corporate governance and malpractices in the sector.
Gazeting of the Pension and Provident Funds (Amendment) Regulation S.I 80/17
LOA takes initiative to de-mystify insurance as it stimulate national debate
Insurance24 Reporter
HARARE, According to the Insurance and Pension Commission (IPEC), almost 70% of Zimbabwe Stock Exchange (ZSE) listed companies are funded by insurance companies and pension funds as institutional investors.
On other hand, at least 77% of Zimbabwe’s adult population are believed do not have any form
Healthcare funders discuss economy and industry regulation’s impact on industry
Insurance24 Reporter
Harare- Healthcare funder’s stakeholders will this week gather in Victoria Falls for their annual conference which will among other things deliberate on the country’s economic outlook and regulatory issues impact on the sector.
The Association of Healthcare Funders of Zimbabwe (AHFoZ), the convener,
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