Increase of reinsurance premiums in 2015

Zimbabwean reinsures have written nearly 83.4 million USD in premiums in the course of the first three quarters of 2015, compared to 80 million USD for the same period in 2014. This increase is accounted for by the good performance of the engineering insurance and by the buoyant activity of the construction business. Third party Liability policies underwritten have also supported this growth.

Motor and fire classes of business are chipping in with up to 57% of the premiums accepted in reinsurance. According to the Insurance and Pension Commission, (IPEC), 12.78% of the reinsurance premiums collected in the market, that is 10.7 million USD, are generated from foreign acceptances.