Articles tagged 'insurance'

Govt warns insurance players 9 November 2018 HARARE - Zimbabwe's insurance industry has been urged to tread carefully when dealing with clients as a way of boosting confidence in the fragile sector. The southern African country used to have a vibrant insurance industry in the 1990s, but confidence plummeted in the aftermath of hyperinfla...
Zimnat to hold half marathon 2 November 2018 HARARE – Zimnat will on November 10, hold a half-marathon charity event at the Barclays Sports Club in Harare to raise money for a Bulawayo man who needs spinal surgery. Cebisani Ndlovu, 30, requires surgery, which can be performed at a Bulawayo hospital at a cost of $7 500. The Risk Manage...
Old Mutual lists in Zim 27 June 2018 HARARE - Old Mutual Limited shares were yesterday listed on the Johannesburg Stock Exchange (JSE) with a secondary listing on the Zimbabwe Stock Exchange (ZSE), Nairobi Securities Exchange (NSX) and the Malawi Stock Exchange (MSE) The listing replaces the listing of Old Mutual plc which has be...
Reprieve for pensioners 15 May 2018 HARARE - Many Zimbabweans who were offered $5 for their life's savings and pensions by the country's bankrupt government in 2015 could get more money if latest findings are anything to go by. Three years ago, the Reserve Bank of Zimbabwe announced that would pay $5 to all those who held Zimbab...
Farmers shun insurance 9 May 2018 HARARE - Newly-resettled farmers continue to shun insurance products despite efforts by government and the corporate sector to provide cheaper programmes targeting the agriculture sector, industry experts have said. Zimbabwe's insurance penetration rate, which reached a high of 10 percent in t...
Inquiry exposes the rot in pension, insurance sectors 17 April 2018 HARARE - A 423-page report by a Commission of Inquiry “Into the conversion of insurance and pension values from the Zimbabwe dollar to the United States dollar” in 2009 vindicates the old adage that says all that glitters is not gold. Like snake oil salesmen, the generality of Zimbabweans had ...
Time to start insuring players 26 March 2018 HARARE - Before even the first whistle was blown last weekend, the 2018 Castle Lager Premiership season started on a very depressing note. The horrific injury that CAPS United skipper Hardlife Zvirekwi suffered, which resulted in him having part of his left arm amputated, following a car accid...
Zim insurance sector set for rebound 1 March 2018 HARARE - Zimbabwe's insurance sector is set for a rebound following rising investor confidence in the country after the inauguration of a new government late last year, market experts have said. The southern African country is currently enjoying a breath of fresh air following the ascendency o...
Zimre profit up 1 137pc 25 September 2017 HARARE - Zimre Holdings Limited's profit for the six months to June 30, 2017 soared 1 137 percent to $2,7 million from  $220 649 recorded in corresponding period the previous year, largely due to restructuring initiatives and refocusing anchored on the new strategic focus adopted in last year. ...
Cimas, Corp 24 row takes new twist 21 August 2017 HARARE - The two-year-old feud between Cimas Medical Aid Society (Cimas) and Corporate 24 Hospital Group (Corporate 24) is raging on with the former in the eye of a storm from its members after using $46 000 to conduct an investigation to recover $35 000, which they said was wrongfully claimed by...
ZHL intensifies restructuring drive 17 August 2017 HARARE - Diversified group, Zimre Holdings Limited (ZHL), has begun negotiations over the disposal of certain assets as it intensifies its restructuring drive. Company secretary Lovemore Madzinga yesterday said the firm wanted to use the disposal proceeds in new ventures. “The company has b...
Masawara divests from Uganda insurer 17 August 2017 HARARE - Southern Africa focused investment firm, Masawara, has disposed its Ugandan insurance unit, Lion Assurance Company Limited (Lac) for $5,7 million. Maureen Erasmus, a director with the Jersey-registered firm, said proceeds from Lac will be utilised to settle a long-term loan repayment ...
Insurers regulator to de-register errant firms 3 July 2017 HARARE - The Insurance and Pensions Commission (Ipec) is threatening to de-register insurance companies and brokers that are failing to meet client claims on time in the wake of a worsening economic situation, the businessdaily can report. With the operating environment buckling to a serious l...
Nssa consolidates insurance firms 20 June 2017 HARARE - The National Social Security Authority (Nssa) is moving to consolidate its position in the insurance sector amid indications it wants to merge interests in two Zimbabwe Stock Exchange-listed stalwart insurance counters. Listed short-term insurer NicozDiamond Insurance Limited (NDIL) —...
Ipec launches framework for low income earners 17 June 2017 HARARE – The Insurance and Pensions Commission (Ipec) yesterday launched Zimbabwe's maiden Micro-Insurance Regulatory Framework aimed at facilitating the provision of insurance to low income earners. The regulator's commissioner, Tendai Karonga, said the framework was useful in assisting Zimba...
Tough times for insurance firms 15 June 2017 HARARE – The Insurance and Pension Commission (Ipec) said it will compel all insurance companies to publish financial statements as part of strategies to promote transparency and increase credibility in the sector. The regulator's commissioner, Tendai Karonga, yesterday said insurance fraud — ...
ZPI declares $0,5m dividend 11 May 2017 HARARE - Zimre Property Investments (ZPI) has declared a $500 000 dividend for the year to December 2016, weathering difficult operating environment. The listed property firm's company secretary, Sibongile Mhlanga, yesterday said the dividend — which is $0,029 per share — would be paid to shar...
Zimre narrows loss 1 May 2017 HARARE - Financial services group, Zimre Holdings (Zimre), says its cost containment measures have started yielding results after the group trimmed its loss to $2,2 million from $23,1 million in the year ended December 2016. Group chairperson Ben Khumalo said the group — which has been undergo...
American insurance firm ventures into Zim 10 October 2016 HARARE - America insurance firm, Blue Marble Microinsurance (Blue Marble), is set to launch its first venture in Zimbabwe later this month. The company —a consortium of eight companies established in 2015 with the aim of creating a market for micro insurance —said it will provide drought prote...
Most Zimbabweans not insured 8 July 2016 HARARE - Zimbabwean insurance companies have been urged to come up with new products aimed at capturing at least 9,1 million people who are not insured. Finance ministry director Judith Rusike said insurance sector firms must play a part in promoting financial inclusion. “The FinScope Consu...
Nicoz seeks new investor 28 April 2016 HARARE - Zimbabwe's largest short-term insurance firm, NicozDiamond (Nicoz), is seeking a new investor following the collapse of recent capital-raising initiatives. Nicoz company secretary Gloria Zaravanhu yesterday said discussions on the transaction contemplated by the firm in November last ...
Five insurance firms suspended 8 February 2016 HARARE - The Insurance and Pensions Commission (Ipec) has suspended four insurers and an insurance broker from issuing or renewing insurance policies due to unsound finances and unethical business conduct. “Excellence Insurance Company (Private) Limited is under suspension as its financial pos...
Insurance industry premiums up 12pc 24 November 2015 HARARE - Zimbabwe's insurance industry wrote $244 million in net premiums in the quarter to September 2015, representing a 12 percent growth from $223 million realised in the comparable period last year. Figures released by the Insurance and Pension Commission (Ipec) on Friday revealed that to...
Nicoz operating profit down 35pc 21 August 2015 HARARE - Listed short-term insurer Nicoz Diamond (Nicoz) operating profit for the half-year to June 30, slumped 35 percent to $1,2 million compared to prior period on the back of higher growth claims and operating expenses of 45 percent. In a statement accompanying the group's financials for t...
Insurance capital requirements hiked 233pc 18 August 2015 HARARE - Zimbabwe has increased the minimum capital requirements for insurance firms by 233 percent to $5 million from the current $1,5 million, businessdaily has established. Finance minister Patrick Chinamasa said the upward review of minimum capital requirements for the insurance sector was...