Compliance Society of Zimbabwe officially launches, as IPEC urges corporate compliance
HARARE, The Compliance Society of Zimbabwe (CoSoZ) an umbrella body for Compliance Professionals across all economic sectors in Zimbabwe was launched yesterday and seeks to ensure that corporate compliance is a continuous process.
TENDAI KARONGA, the Insurance and Pension Commission (IPEC), Commissioner of Insurance,
ICZ new head office in Harare commissioned, as Finance Minister urges more investment into infrastructure projects
HARARE, Finance Minister Patrick Chinamasa says the insurance industry must use its tactical position in the economy to mobilize resources for strategic public and private infrastructure development.
He was speaking at the commissioning of the Insurance Council of Zimbabwe (ICZ) new head
Air Zimbabwe seeks provision of insurance cover for assets
Electronic insurance cover reduces fraud next to Zero: Zinara
Harare – The Zimbabwe National Road Administration (Zinara) says it has managed to reduce insurance fraud next to Zero since introduction of electronic insurance cover on which firms are linked to Zinara and the Central Vehicle Registry.
The electronic insurance cover enables firms to link to Zinara and the Central Vehicle Registry
Insurance sector key to driving economic transformation: World Bank
HARARE, The World Bank (WB) says Zimbabwe’s insurance industry remains a key sector that has potential for growth, contributing towards the transformation of the country’s economy.
WB Zimbabwe senior economist Johannes Herderschee told Insurance24 at the side-lines of the WB Zimbabwe Economic Update (ZEU) launch that the growth
Insurance penetration ratio targeted at 20% in the next two years
Harare – The Insurance and Pensions Commission (IPEC) is targeting to increase insurance penetration ratio to 20% in the next two years from the current 3, 6 % through micro insurance which is largely affordable to low income earners.
Launching the micro insurance regulatory framework, Ipec Commissioner Tendai Karonga said micro
Regulatory reporting protects policyholders and fund member interests: IPEC Commissioner.
HARARE- The Insurance and Pension Commission (Ipec) says regulatory reporting by the insurance and pensions industry ensures policyholders and fund member interests are protected thus boosting confidence sector.
IPEC Commissioner Tendai Karonga told stakeholders at the IPEC-ICAZ Seminar that regulatory reporting
Treasury targets Pension Funds and Insurance Companies in $50mln Irrigation Bond
HARARE, Government will float a $50 million Irrigation Infrastructure Bond aimed at raising funds to support irrigation development and infrastructure under the Command Agriculture programme.
According to a term sheet seen by Insurance24, the Treasury bond has a coupon rate of 6% and 3-year maturity tenure.
The main targeted
Harare – Agribank says income contribution from its Agri-Insure cluster for the 5 five months to May 2017 was 3% to total income thus the Bank is expanding initiatives to grow the commission income.
The Bank act as an agent for Alliance Insurance and offers products that range from vehicle cover ,households, personal assets, immovable property, crop insurance and accident cover among others.
Agribank
HARARE – Total contributions for self-administered pension funds surged 8 percent to $536.8 mln in FY2016, compared to $496.7 mln realised in the prior year. Data released in the 2016 Fourth Quarter Report of the Insurance and Pension Commission (IPEC) show that arrear contributions have also increased from $311.2 mln in 2015 to $350.7 mln last year.
Arrear contributions for fund administrators