Published: 26 September 2013

Zimbabwe's short-term non-life insurance industry has recorded a 7.56% increase in gross premiums to $117. 8 million for the 6  months ended June 30, 2013 due to growth in volumes of business generated, latest industry statistics show.

In its second quarter report, the Insurance and Pensions Commission said non-life insurers amounted to $117.8 million in the period under review with $50.04 million generated through insurance brokers.

The regulator said non-life reinsurers, on the other hand, reported total gross premium of $60.30 million of which $29.21 million was generated through locally registered reinsurance brokers.

Ipec said comparative to the business written, insures ceded more business to reinsurers during the period under review and this was also evidenced by a growth rate in reinsurance premiums of 11.25% which was more than the growth in total gross premium.
- newsday

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