ZIMBABWE’S insurance industry is posting stronger profits, growing asset bases and healthier balance sheets, even as fewer people are taking out, or keeping, insurance policies, latest reports show. This comes as the industry has long struggled to win public confidence, with memories of hyperinflation-era losses, policy lapses and concerns over claim settlements continuing to discourage…
Insurers’ profits soar as policyholders dwindle
The Insurance and Pensions Commission's (IPEC) first quarter reports on the life assurance, funeral assurance, short-term insurance and pensions sectors show that the industry is relying heavily on existing policyholders, investment income and improved underwriting performance to drive earnings.