Staff Writer
THE Insurance and Pensions Commission (Insurance and Pensions Commission) has cancelled the registration of Orchid Funeral Assurane effectively removing the firm from Zimbabwe’s insurance sector over serious regulatory breaches.
In a notice issued on 1 June 2026, IPEC confirmed the decision in terms of Section 22 of the Insurance Act (Chapter 24:07).
“The Insurance and Pensions Commission (IPEC) has, in terms of section 22 of the Insurance Act [Chapter 24:07], cancelled the registration of Orchid Funeral Assurance (Private) Limited as a funeral assurance company.”Ipec said
The regulator said the action followed multiple compliance failures by the insurer, including capital, reporting and governance lapses.
“Failure to maintain minimum capital requirements; non-submission of quarterly returns and audited financial statements; absence of a Principal Officer and a functioning Board.” the regulator said
IPEC added that despite repeated engagements with the company, there was no improvement in compliance, stating that the entity “failed and neglected to comply with its obligations.”
Following the cancellation, policyholders have been directed to submit their details for verification and possible follow-up action by June 30 2026.
“Any policyholder of Orchid Funeral Assurance (Private) Limited should approach the Commission with their full name, identity documents, cell number, policy number and copy of policy document.” Ipec said
