FINANCIAL SERVICES

Insurance uptake high - Ipec

THE Insurance and Pensions Commission (Ipec) says Zimbabwe's insurance penetration rate is much higher than the figures reported by PricewaterhouseCoopers (PwC), which ranked the industry fifth in Afr...

By Staff reporter | Published: 09 September 2018

FINANCIAL SERVICES

Pension industry sees drop in assets in Q4 2017

TOTAL assets in the pension industry declined by 6,5% to $4,03 billion in the fourth quarter of last year due to a shrinkage in equity investments that were affected by a drop in equity prices.The Ins...

By Staff reporter | Published: 20 July 2018

BUSINESS NEWS

Insurers profit jumps 250%

NON-LIFE insurance companies registered 250 percent growth in profits to $33,6 million in the 12 months to December 2017, according to Insurance and Pensions Commission (IPEC)'s 2017 fourth quarter re...

By Staff reporter | Published: 05 July 2018

FINANCIAL SERVICES

Buy from registered firms: Ipec

The Insurance Pensions Commission (Ipec) has urged the public to buy insurance products from regulated insurance institutions amid rising incidences of fake policies.Addressing members of the public a...

By Staff reporter | Published: 02 July 2018

FINANCIAL SERVICES

Mnangagwa ally leaves IPEC

Insurance and Pension Commission head of prudential services Pupurai Togarepi has left the organisation to pursue a career in politics.The Zanu PF national youth chairperson, who has vast knowledge an...

By Staff reporter | Published: 28 June 2018

FINANCIAL SERVICES

IPEC targets 7% insurance penetration

The Insurance and Pensions Commission (IPEC) is targeting insurance penetration to reach 7 percent by 2022 compared to the current 4,7 percent on the back of an anticipated economic growth. Zimbabwe r...

By Staff reporter | Published: 25 June 2018

BUSINESS NEWS

Actuaries can stabilise Zim's financial sector

An increased number of actuarial professions practicing in the country can help stabilise the financial sector, the Insurance and Pensions Commission acting Commissioner Blessmore Kazengura has said.S...

By Staff reporter | Published: 15 June 2018

FINANCIAL SERVICES

IPEC boss Karonga resigns

Insurance and Pension Commission (Ipec) commissioner Tendai Karonga has resigned after falling out with the regulator's board.This comes, just over a year after he took over from Marnet Mpofu who left...

By Staff reporter | Published: 22 May 2018

FINANCIAL SERVICES

$28m in benefits lie unclaimed, says IPEC

THE Insurance and Pension Commission of Zimbabwe (Ipec) says pension funds have more than $28 million worth of unclaimed benefits, a symptom of lack of knowledge, which is one of the problems burdenin...

By Staff reporter | Published: 16 May 2018

BUSINESS NEWS

IPEC Commissioner suspended?

THE Insurance and Pension Commission (IPEC) commissioner Tendai Karonga has reportedly been suspended for alleged insubordination by the regulator's board.According to information at hand, Karonga cla...

By Staff reporter | Published: 10 May 2018

FINANCIAL SERVICES

Ipec enforces new actuarial rules

The Insurance and Pensions Commission (Ipec) has issued a stern warning saying all insurance companies should engage actuaries for key validation on their activities or face serious consequences. The ...

By Staff reporter | Published: 21 March 2018

BUSINESS NEWS

IPEC wants $1bn fixed asset securities tradable

Ipec wants insurance companies and pension funds with over $1 billion invested in fixed properties to invest on secondary markets to ensure tradability of fixed income securities for liquidity that de...

By Staff reporte | Published: 22 September 2017

FINANCIAL SERVICES

IPEC defends new requirements

The Insurance and Pensions Commission (IPEC) says it introduced a mandatory certificate of proficiency qualification for trustees of retirement funds to curb widespread mismanagement of the investment...

By Agencies | Published: 13 September 2017

BUSINESS NEWS

IPEC not competent enough for medical aid business

THE Insurance and Pensions Commission should not clamour to have medical aid societies under its regulatory purview, because it does not possess the competence and credibility to warranty such respons...

By Staff reporter | Published: 08 September 2017

BUSINESS NEWS

New insurance regulations gazetted

NEWLY gazetted insurance regulations on capitalisation of insurance firms will require significant discounting of values of all quoted equities and investments in unquoted or private equity for purpos...

By Staff reporter | Published: 29 August 2017

INDUSTRIALS & ENERGY

IPEC wants to regulate health funders

THE Insurance and Pensions Commission (IPEC) is in discussions with government, which could see the regulator extending its oversight to medical aid societies, currently being governed by the Ministry...

By Staff reporter | Published: 10 August 2017

FINANCIAL SERVICES

Insurance sector registers 32% asset growth

The Insurance and Pension Commission (Ipec) says the insurance industry registered a 32% total asset base growth to $5,4 billion, as at March 2017 due to growth in equities and asset revaluations.Ipec...

By Staff reporter | Published: 08 August 2017

FINANCIAL SERVICES

IPEC gets tough on insurance touting

The Insurance and Pension Commission (IPEC) has ordered all insurers, brokers and intermediaries to immediately stop using "unregistered" touts for marketing and selling insurance policies, especially...

By Staff reporter | Published: 07 August 2017

FINANCIAL SERVICES

IPEC focuses on funeral assurance companies

The Insurance and Pension Commission has come up with a micro-insurance framework which provides for less stringent registration requirements as the commission works on reducing unregistered funeral a...

By Staff reporter | Published: 31 July 2017

FINANCIAL SERVICES

Insurers regulator to de-register errant firms

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,...

By Staff reporter | Published: 04 July 2017

BUSINESS NEWS

IPEC reviews capital requirements

The Insurance and Pensions Commission has reviewed assets that insurance companies can use for the purposes of calculating capital. This follows findings by the commission that some insurers had been ...

By Walter Muchinguri | Published: 14 June 2014
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