Reinsurance companies in zimbabwe?
Some of the key companies in the Zimbabwe insurance market are Nyaradzo Life, Doves, Econet, Old Mutual Life, Zimnat Life, Zimnat Lion, Nicoz Diamond, Alliance, and Cell Insurance. In 2022, Nyaradzo Life was the leading insurer, followed by Zimnat Lion and Nicoz Diamond.
Some of the key companies in the Zimbabwe insurance market are Nyaradzo Life, Doves, Econet, Old Mutual Life, Zimnat Life, Zimnat Lion, Nicoz Diamond, Alliance, and Cell Insurance. In 2022, Nyaradzo Life was the leading insurer, followed by Zimnat Lion and Nicoz Diamond.
African Reinsurance Corporation (Africa Re) is the leading pan-African reinsurance company and the largest reinsurer in Africa in terms of net reinsurance written premiums.
Zimbabwe's insurance industry is regulated by the Insurance and Pensions Commission (IPEC), which is responsible for supervising and monitoring the operations of insurance companies in the country. The insurance market in Zimbabwe is relatively small, with just over 20 licensed insurers operating in the country.
- Delta (US$ 431 Million, ZWL$ 3.2 Trillion) ...
- WestProp Holdings (US$ 300 Million)*** ...
- Innscor (US $233 Million) ...
- Simbisa Brands (US $204 Million) ...
- CBZ (US$ 139 Million, ZWL$1 Trillion) ...
- Econet Zimbabwe (US$133 Million, ZWL$997 Billion) ...
- National Foods (US $102 Million)
| Rank | Company | Industry |
|---|---|---|
| 1 | Delta | Beverages |
| 2 | Econet Wireless | Technology |
| 3 | Innscor | Industrial Holding |
| 4 | Padenga Holdings | Agricultural |
Europe's big four reinsurers – Munich Re, Swiss Re, Hannover Re and Scor – reported an average P&C combined ratio of 89.2 percent in the first half as they benefited from better pricing and more favourable terms and conditions, according to analysis by Fitch Ratings.
S&P Global Ratings has revealed the top 40 global reinsurers in the market as of 2023, through the latest edition of its Global Reinsurance Highlights report. Germany-based Munich Re nabbed the top spot, with a rating of AA- and the only positive outlook across all the 40 ranked.
Munich Re remained in first place, as it has done so since 2020, with Swiss Re and Hannover Rück SE joining Munich Re on the podium. Also retaining their positions were Canada Life Re, Lloyd's, China Re, the Reinsurance Group of America and Everest Re.
Who is the CEO of Africa reinsurance?
Corneille KAREKEZI
He rose to the current position of Group Managing Director and Chief Executive Officer of Africa Re in July 2011 after a transitional period of 2 years during which he served successively as Deputy Managing Director and Deputy Managing Director / Chief Operating Officer.
In 2018, Allianz acquired the 8% stake of IRB Brasil in Africa Re. As of 31 December 2021, 113 insurance and reinsurance companies on the continent are shareholders of Africa Re, as well as 42 States, the African Development Bank (ADB) and three international groups.
African Reinsurance Corporation Salaries
The average estimated annual salary, including base and bonus, at African Reinsurance Corporation is $87,693, or $42 per hour, while the estimated median salary is $102,753, or $49 per hour.
| Index Score | 32.4 |
|---|---|
| Rank | 117/195 |
| Change from 2019 | -1.0 |
Cell Insurance was incorporated in 2003 and opened its doors in 2004 as the first and only licensed Captive Insurance Company in Zimbabwe in a market that predominantly offers Conventional Insurance products only.
1.1 The Life Assurance Sector was made up of 12 direct Life Assurance companies, four (4) Life Reassurance companies and 1,425 life agents.
Zimbabwe's Richest Man Strive Masiyiwa To Acquire Botswana's Mascom For $300 Million. Econet Wireless, the African mobile telecoms giant owned by Zimbabwe's richest man, Strive Masiyiwa, is acquiring a 53% stake in Mascom Wireless, Botswana's largest mobile operator, for an estimated $300 million.
Strive Masiyiwa (born 29 January 1961) is a London-based Zimbabwean billionaire businessman and philanthropist. He is the founder and executive chairman of international technology groups Econet Global and Cassava Technologies.
| # | Country | Number of Billionaires (2023) |
|---|---|---|
| 73 | Tanzania | 1 |
| 74 | Venezuela | 1 |
| 75 | Zimbabwe | 1 |
| 76 | Eswatini | 1 |
The economy of Zimbabwe is a tertiary sector based economy, making up to 56.64% of total GDP as of 2021. Zimbabwe has a $44 billion dollar informal economy in PPP terms which translates to 64.1% of the total economy. Agriculture and mining largely contribute to exports.
What made Great Zimbabwe so wealthy?
Great Zimbabwe had several sources of wealth, but perhaps most significant was trade. Internally, the kingdom of Zimbabwe produced lots of agriculture (notably cattle) and mined copper and gold. However, it also controlled the trade routes linking the interior of the continent to the coast.
Major exports include gold, tobacco, metal alloys, cotton, and sugar. The principal imports are fuels and petroleum products, electricity, machinery and transport equipment, food, and miscellaneous manufactured goods.
Under proportional reinsurance, the reinsurer receives a prorated share of all policy premiums sold by the insurer. For a claim, the reinsurer bears a portion of the losses based on a pre-negotiated percentage. The reinsurer also reimburses the insurer for processing, business acquisition, and writing costs.
Reinsurers play a major role for insurance companies as they allow the latter to help transfer risk, reduce capital requirements, and lower claimant payouts. Reinsurers generate revenue by identifying and accepting policies that they believe are less risky and reinvesting the insurance premiums they receive.
Issue: Reinsurance, often referred to as “insurance for insurance companies,” is a contract between a reinsurer and an insurer. In this contract, the insurance company—the cedent—transfers risk to the reinsurance company, and the latter assumes all or part of one or more insurance policies issued by the cedent.
