By Yeukai Musara, HARARE,October 12 (The Source) – Zimre Holdings Limited (ZHL) has called off plans to sell off its shareholding in insurance firms in NicozDiamond and Fidelity Life Assurance, citing increased uncertainty in Zimbabwe’s financial system.
HARARE, August 31 (The Source) – First Mutual Holdings Limited’s shareholders voted to approve a $17,25 million rights issue which will finance the acquisition of an 80,92 percent stake in Zimbabwe’s largest short-term insurer NicozDiamond, at an Extraordinary General Meeting (EGM) on Thursday. They also… Read More
HARARE, April 26 (The Source) – Life assurance premium income dropped by 6 percent to $81,4 million in the first quarter to March from $88,1 million reported in the same period last year, the latest report by the Insurance and Pension Commission (IPEC) shows.
HARARE, August 4 (The Source) – Non-life insurers reported a 60 percent increase in after tax profit from $2.39 million to $3.83 million in the quarter to March, driven by an increase in gross premiums written (GPW) and a reduction in operational expenses, a report… Read More
HARARE, July 31 (The Source) – The funeral assurance industry’s after tax profit for the first quarter to March increased 56 percent to $2.5 million compared to $1.63 million in the same quarter last year, largely on the back of a drop in claims and… Read More
HARARE, June 14 (The Source) – The liquidator of Altfin Life Assurance says creditors should expect to recover a quarter of their claims if he sells off the company’s building. Altfin was liquidated in September last year, with Phibion Gwatidzo appointed its liquidator. The company… Read More
HARARE, April 4 (The Source) – Funeral assurers reported a 6 percent increase in gross premium income to $38,6 million in the full year to December 2016 from $36,5 million previously as a result of new business arising from mobile insurance, according to the regulator. The… Read More
HARARE, March 29 (The Source) – South African financial group Sanlam has acquired a 40 percent shareholding in Zimnat in a deal worth $11,5 million which will see the group rebranding, officials said on Wednesday. The balance of shareholding is owned by Masawara, a holding… Read More
HARARE, March 17 (The Source) – Zimbabwe’s largest short-term insurer, Nicoz Diamond on Friday reported a 41 percent drop in net profit to $959,798 in the full year to December 31 from $1,64 million in the previous year after its regional operations suffered from unstable… Read More
HARARE, March 3 (The Source) – Torrential rains and cyclones that have battered Zimbabwe this season have triggered a sharp rise in motor car insurance after flash floods and heavy storms damaged roads and cracked open dangerous potholes, according to an industry official. Luke Ngwerume, the former… Read More
HARARE, January 26 (The Source) – CBZ Holdings on Thursday launched a risk advisory service which it says will bolster its insurance business and diversify the group’s earnings. CBZ, which operates the country’s biggest retail bank, a building society, and an asset management company already… Read More
HARARE, December 9, (The Source) – Non-life insurance companies reported a 169,79 percent increase in profit after tax in the nine months to September to $9.85 million driven by decline in operating expenses, a report by the industry regulator has shown. Gross Premiums Written (GPW)… Read More
HARARE, September 12 (The Source) – The life assurance industry claims grew by 47 percent to $100 million in the first six months of the year but the threat of fraudulent hangs over the sector, an industry report has shown. “The industry generally reported timeous… Read More
HARARE, June 17 (The Source) – Non-life insurance firms registered a 38.95 percent decline in profit after tax in the first quarter of 2016, writing a lower volume of business as economic activity continues to slowdown, an industry regulator’s report shows. According to the Insurance… Read More
HARARE, April 8 (The Source) – Fidelity Life Assurance of Zimbabwe has sent its top management on forced leave to facilitate an audit into alleged financial irregularities at one of the country’s largest life assurers. Managing Director Simon Chapereka and financial director German Mushoma have… Read More