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 BW 178, 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
 20202021
Turnover2 7996 912
Shareholder’s equity2 5014 426
Net result1 3412 105

First Mutual Reinsurance: capital and shareholding

ShareholderIn %
First Mutual Holdings100%
Share capital (1)714 000 USD

(1) Including share premium

First Mutual Reinsurance: technical ratios

 20202021
Net loss ratio51.72%45,54%
Net management expenses ratio127.93%137,33%
Net combined ratio179.65%182,87%

First Mutual Reinsurance: management

Oliver MtasaGroup chairman of the board
Douglas HotoGroup managing director
Bongai MuhauManaging director
Isaac ZinhangaOperations executive
Mativenga ChihwengaFinance executive

First Mutual Reinsurance: regional structure

GaboroneBotswana

Exchange rate as at 31/12/2020: 1 ZWL = 0.01223 USD ; 31/12/2021 : 1 ZWL = 0.00920 USD

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

Read also | Reinsurance in Sub-Saharan Africa

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Wed, 01/02/2023 - 08:52
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