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
Insurance and pension industry asset base at $4.4 billion as at March 2017: Chinamasa
Insurance24 reporter
Harare-The asset base for the insurance and pension industry totaled $4.4 billion as at 31 March 2017 with pension funds accounting for $2.28 bln of the total.
According to Finance Minister Patrick Chinamasa’s Annual Budget Review presented this afternoon, Non-life insurers asset base amounts
Zimbabwe’s life insurance market projected double digit growth in next five years
Insurance24 reporter
HARARE, Growth of the Zimbabwean life insurance market is expected in double-digit figures over the next five years from 2017 with low inflation supporting real term increases although this will be from a low base and is vulnerable to economic shocks.
According to a summary Zimbabwe Insurance Report
IPEC to share industry developments and reforms at 2017 Shareholder/Investor Forum
Insurance24 Reporter
HARARE, The Insitutute for Sustanability Africa (INSAF) says the dream of receiving meaningful dividends of lost pensions remain bleak with share certificates turning monumental.
The Institute which will hold its Annual 2017 Shareholders and Investors Forum in Zimbabwe next week says many
IPEC okays liquidation of Allied Banking Group Pension Fund
Insurance24 reporter
HARARE, The Insurance and Pension Commission (IPEC) has approved the liquidation of the Allied Banking Group Pension Fund and independent Consulting Actuary, David Mureriwa has been appointed the Liquidator of the Fund.
The approval is in terms of the Section 10 (1) (a) of the Rules of the Allied Banking Group Pension
Investors rate regulators in perception survey, Ipec found to have no overall effect
HARARE, The Insurance and pension Commission (IPEC) is among a few regulatory institutions in Zimbabwe found to have no overall effect on business operations by investors, an Investor Perception Survey (IPS) report shows.
The IPS report for 2016 was commissioned by Government through the National Economic Consultative
Risk profile based premium contributions will sink more banks: DPC
HARARE, Zimbabwe bank depositors’ insurer, the Deposit Protection Corporation (DPC) says while the risk based premium contribution is fair, if implemented under the current economic environment more banks will go under.
At the moment contribution to the Depositors Protection Fund by deposit taking financial institution is at a
IPEC warns on deceiving unsuspecting potential insurance consumers
HARARE, The Insurance and Pension Commission say it frowns upon insurance companies or insurance agents/brokers who deceive unsuspecting potential insurance consumers all in the name of making money at the expense of policyholders.
Ipec Commissioner Tendai Karonga said it is important that insurance companies uphold the highest standards
Restructuring, improved collections and premiums lifts NSSA in 2016
HARARE, The National Social Security Authority’s (NSSA) contributions and premiums income increased 12% to $327,7mln in 2016 compared to $292,9mln in 2015 largely driven by improved collections and a marginal increase in premiums.
During the year, contributions alone were14% up at $276.5mln from $242,8mln in prior year while premiums
About 77% of Zimbabwe’s adult population uninsured, as hyperinflation period still haunts them
HARARE, At least 77% of Zimbabwe’s adult population do not have any form of insurance cover with majority still stuck in the aftermath of the hyper-inflationary period where they lost value in their savings and cover.
This has culminated into the current state of the low insurance penetration ratio which