Insurers Fidelity and Old Mutual contribute to February’s highest turnover

Insurers Fidelity and Old Mutual contribute to February’s highest turnover

By Insurance24

HARARE, Insurer, Fidelity Life Assurance gained 1.60c in today’s session of the Zimbabwe Stock Exchange (ZSE) to close at 9.60c. Together with Old Mutual, the two insurers are the only counters in the insurance sector that were in action today. OM traded flat 5.30c.

Fidelity appointed Rueben Java as Group chief executive officer effective 1 October 2017. The group saw net premiums for the interim six months ended 30 June 2017 declining 28% to $6.06 mln compared to $8.44 mln same period in 2016.

      

Other insurers, ZHL, FMHL and NicozDiamond did not trade. Meanwhile, trade activity spiked in a very busy session, with turnover amounting to a solid $7 mln.

Block trades were posted in cigarette manufacturer BATZ, mobile network services provider Econet, sugar manufacturer Hippo and seed giant SeedCo.

The All Share Index closed 0.12 points weaker. The Industrial Index retreated 0.42 points whilst the Top Ten and the Mining Indices closed unchanged.