First Mutual Reinsurance

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DATE OF CREATION: 2003, Zimbabwe
CLASS OF BUSINESS: Non life
MAIN UNDERWRITING ZONE: Africa

First Mutual Reinsurance: contact

Address : First Mutual Park, 100 Borrowdale Road Borrowdale, P.O. Box CY 1912 Harare, Zimbabwe
Tel: +263 (242) 886000 - 17
Email: info [at] firstmutual [dot] co [dot] zw
Website:www.firstmutual.co.zw

First Mutual Reinsurance: rating

AgencyRatingOutlook
GCRBBB (zw)Stable

First Mutual Reinsurance: main indicators

in thousands USD
 20192020
Turnover3 8732 799
Shareholder’s equity1 7372 501
Net result1 0281 341

First Mutual Reinsurance: capital and shareholding

ShareholderIn %
First Mutual Holdings100%
First-Mutual-reinsurance-capital-and-shareholding

First Mutual Reinsurance: technical ratios

 20192020
Net loss ratio29.31%51.72%
Net management expenses ratio59.28%127.93%
Net combined ratio88.59%179.65%

First Mutual Reinsurance: management

Oliver MtasaGroup chairman of the board
Douglas HotoGroup managing director
Bongai MuhauManaging director
Isaac ZinhangaOperations executive
Douglas SitholeFacultative manager
Iris NdumoTreaties manager

First Mutual Reinsurance: regional structure

GaboroneBotswana

Exchange rate at 12/31/2020: 1 USD = 81.7866 ZWL

Sources: Insurance & Pensions Commission (IPEC) and First Mutual Re

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