The insurance industry in Zimbabwe: 2014 results

The Zimbabwe insurance sector: turnover per non life insurance company

in thousands USD

	2013	2014	2013-2014 evolution	2014 market shares
Old Mutual ⁽¹⁾	28 350	30 922	9.1%	14.4%
Alliance	26 313	30 497	15.9%	14.2%
Nicoz Diamond	28 065	27 164	-3.2%	12.6%
Cell	22 188	22 232	0.2%	10.3%
Zimnat Lion	18 502	21 958	18.7%	10.2%
Eagle	14 894	17 370	16.6%	8.1%
Champions	10 459	10 785	3.1%	5%
C.B.Z	7 562	9 089	20.2%	4.2%
Heritage	9 475	7 645	-19.3%	3.6%
Tetrad Hail	7 969	7 298	-8.4%	3.4%
Tristar	7 051	6 283	-10.9%	2.9%
Credsure	5 035	4 307	-14.5%	2%
Clarion	3 961	4 189	5.8%	1.9%
Evolution	3 660	3 658	-0.1%	1.7%
Hamilton	1 647	2 183	32.5%	1%
Regal	1 558	1 566	0.5%	0.7%
Global	2 076	1 301	-37.3%	0.6%
Sanctuary	551	1 272	130.9%	0.6%
Quality	2 297	1 265	-44.9%	0.6%
Excellence	777	976	25.6%	0.5%
Altfin	4 656	974	-79.1%	0.5%
Allied	1 873	950	-49.3%	0.5%
KMFS	916	841	-8.2%	0.4%
Safel	2	191	9450%	0.1%
Total	209 837	214 916	2.4%	100%

⁽¹⁾ Ex RM Insurance non_life company turnover 2014

⁽¹⁾ 14 companies

in thousands USD

	2013	2014	2013-2014 evolution	2014 market shares
Old Mutual	139 196	150 868	8.4%	50.4%
Nyaradzo	46 778	61 741	32%	20.6%
FML	28 396	34 011	19.8%	11.4%
Zimnat	14 244	15 609	9.6%	5.2%
Fidelity	11 970	13 940	16.5%	4.7%
CBZ Life	7 666	9 133	19.1%	3%
Zb Life	7 358	8 798	19.6%	2.9%
Altfin	4 187	2 913	-30.4%	1%
Heritage	1 410	1 485	5.3%	0.5%
Evolution	652	1 024	57.1%	0.3%
Econetlife	-	111	-	-
Total	261 857	299 633	14.4%	100%

Market shares of life insurance companies in 2014

in thousands USD

	2013	2014	2014 market shares
Motor	86 622	90 022	41.9%
Fire	43 915	45 480	21.2%
Personal accident	19 208	20 242	9.4%
Miscellaneous accident	14 491	16 160	7.5%
Engineering	9 202	10 571	4.9%
Guarantee/bond/credit	13 427	11 573	5.4%
Marine and aviation	9 537	9 321	4.3%
Agricultural insurance and hail	9 060	8 211	3.8%
Third party liability	3 135	2 928	1.4%
Health	1 240	408	0.2%
Total non life	209 837	214 916	100%

in thousands USD

Source: Insurance and Pensions Commission (IPEC)

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Tue, 12/04/2016 - 15:47