Regional expansion will be a priority for diversified financial services group ZimRe Holdings, according to its chairman, Mr Desmond Matete, who was speaking at the presentation of the group's financial performance for the year ended 31 December 2024. The expansion plan leverages the African Continental Free Trade Area (AfCFTA).
The government intends to set up a Policyholder Protection Fund (PPF) to serve as a safety net for policyholders in the event an insurance company or pension fund becomes insolvent, in a bid to boost confidence in the insurance sector.
The Life Offices Association (LOA), which represents all life insurance companies in Zimbabwe, is urging the sector's players to leverage the current stability in the country to bolster resilience within the life insurance industry.
The Insurance and Pension Commission (IPEC) plans to issue a sustainability guideline for insurers and pension funds in 2025,a move that it says will be a strategic milestone for next year.
The Insurance and Pensions Commission (IPEC) is spearheading the development of agricultural insurance to improve smallholder farmers' access to suitable and affordable coverage.
The Insurance Institute of Zimbabwe (IIZ) says that the informal economic sector in Zimbabwe remains largely uninsured because most products and services are geared to the formal economy.
Micro, small and medium enterprises (MSMEs) have called for measures to build confidence in the insurance sector to improve the low penetration rate in the sector.
Zimbabwe faces challenges in securing insurance coverage for major projects, with the main hurdle being international sanctions against the country, according to the Zimbabwe Investment Development Agency (ZIDA).
The Insurance and Pensions Commission (IPEC) is drafting a regulatory framework to implement agricultural index-based insurance that will provide insurance solutions for smallholder farmers vulnerable to climate change.
Road traffic accidents cost Zimbabwe losses of over $400m each year, the managing director of the Zimbabwe Traffic Safety Council of Zimbabwe (TSCZ), Mr Munesu Munodawafa, has said.