Insurance companies stutter in Monday’s ZSE trading session
Insurance24
HARARE, The week opened with improved activity as turnover edged up to close at USD 1,082,998 compared to USD 400,000 in the previous session.
Trades in Delta, Hippo and Old Mutual carried the day as the rest of the bourse was dominated by very thin trades.
The All Share Index retreated 0.18 points on the back of weaknesses in the Industrial Index (-0.33points). The Top Te Index was down 0.05 points whilst the Mining Index closed unchanged.
INSURANCE COMPANIES FOCUS
Insurance giant, Old Mutual moved 23.922 shares valued at $260.02 mln and was today’s top gainer after increasing 1.51% to trade at $4.8000.
There were no trades in Fidelity Life Assurance. The company’s Langford Estate project still remains uncertain following the taking control of CFI Holdings by shareholders who were pushing for the reversal of the land for debt swap transaction. The company had earmarked to strengthen underwriting capacity as well as balance sheet and improved profitability.
First Mutual Holdings (FMHL) traded flat at 19.50 cents on thin volumes of 32,490 shares. The company is in the final process of the acquisition of Nicozdiamond Insurance. Nicoz will also be merged with the Group’s short term insurer TristarInsurance. On other hand, Nicoz did not trade today.
Zimre Holdings was among today’s top losers after going down 0.32% to close at 0.30 cents.
Insure24/ Imara Edwards
