The ZSE Insurance Monitor: Insurance companies among today’s top losers
Insurance24
HARARE, Insurance giants Old Mutual Plc and First Mutual Holdings are the only counters of the sector that traded in today’s session albeit among top losers of the day.
The Zimbabwe Stock Exchange (ZSE) insurance companies monitor reports that coupled with losses from other three counters, the Industrial Index retreated 0.18% to settle at 197.92.
At close of Tuesday’s session, First Mutual had lost $0.0130 to close at $0.1050 while Old Mutual came off $0.0003 to trade at $3.9297.
First Mutual is currently restructuring its business which has seen the Group re-branding some of its units. The group is also angling for take-over of a majority stake in short term insurer Nicoz Diamond.
There were no trades in other insurance companies Fidelity, Nicoz Diamond and Zimre Holdings. Fidelity earlier in the day announced that it had unveiled a new funeral cover product called Fidelity Medicover, which is a unique Funeral Cover that offer policy holder’s free drugs cover.
ZSE Listed Insurance Companies
First Mutual Holdings
Fidelity Life Assurance
Nicoz Diamond Insurance
Old Mutual PLC
Zimre Holdings
Econet Wireless the parent company for Econet Funeral Services Company put on $0.0025 to settle at $0.3650. Ecosure is a mobile based funeral assurance scheme and has registered significant growth since its relaunch in 2014, riding largely on the Group’s subscribers.
ZSE Listed Companies with Insurance Units
ZB Financial Holdings >ZB Life Assurance
>ZB Reinsurance
FBC Financial Holdings > FBC Reinsurance
>Eagle Insurance
Getbucks Financial Services > Getsure
Econet Wireless > Ecosure
Meanwhile, other losses were recorded in seed company Seedco which shed $0.0499 to trade at $1.4000. The company yesterday renewed its cautionary where it intends to partially unbundle by way of a dividend in specie distribution to all shareholders.
Hospitality concern Meikles eased $0.0496 to $0.2005. The Group last week lifted a cautionary on trading of its shares after the United Arab Emirates conglomerate Albwardy Investment (Albwardy) which had notified intention to acquire the group withdrew its offer. AXIA Corporation, a subsidiary of Innscor Africa limited came off $0.0003 to trade at $0.1100.
However, the losses were countered by gains in CFI which advanced by $0.0120 to close at $0.1800, OK Zimbabwe added $0.0030 to end at $0.0980. Colcom shifted up $0.0024 to $0.4124 while Innscor Africa closed at $0.7225 following a $0.0021 increase.
The Mining index was flat at 69.98 points as all mining counters did not trade.
Insurance24/ZSE
