First Mutual Reinsurance
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
Agency | Rating | Outlook |
GCR | BBB (zw) | Stable |
First Mutual Reinsurance: main indicators
in thousands USD2020 | 2021 | |
Turnover | 2 799 | 6 912 |
Shareholder’s equity | 2 501 | 4 426 |
Net result | 1 341 | 2 105 |
First Mutual Reinsurance: capital and shareholding
Shareholder | In % |
First Mutual Holdings | 100% |
Share capital (1) | 714 000 USD |
(1) Including share premium
First Mutual Reinsurance: technical ratios
2020 | 2021 | |
Net loss ratio | 51.72% | 45,54% |
Net management expenses ratio | 127.93% | 137,33% |
Net combined ratio | 179.65% | 182,87% |
First Mutual Reinsurance: management
Oliver Mtasa | Group chairman of the board |
Douglas Hoto | Group managing director |
Bongai Muhau | Managing director |
Isaac Zinhanga | Operations executive |
Mativenga Chihwenga | Finance executive |
First Mutual Reinsurance: regional structure
Gaborone | Botswana |
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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