Magazine date:
Jan 2023  | DATE OF CREATION: 1994, Zimbabwe |
| CLASS OF BUSINESS: Non life | |
| MAIN UNDERWRITING ZONE: Sub-saharian Africa |
FBC Reinsurance: contact
| Address : 4th Floor, FBC Centre , 45 Nelson Mandela Avenue. P.O. Box 1227, Harare, Zimbabwe |
| Tel: +263 242 797759, 783206-9 |
| Email: info [at] fbc [dot] co [dot] zw |
| Website: www.fbc.co.zw [4] |
FBC Reinsurance: rating
| Agency | Rating | Outlook |
| GCR | A (National business) | Stable |
| GCR | CCC (International business) | Stable |
FBC Reinsurance: main indicators
in thousands USD| 2020 | 2021 | |
| Turnover | 7 414 | 12 878 |
| Shareholder’s equity | 5 874 | 9 241 |
| Net result | 4 537 | 5 508 |
FBC Reinsurance: capital and shareholding
| Share capital (1) | |
| 401 000 USD |
(1)Including share premium
| Shareholders | In % |
| FBC Holdings | 100% |
FBC Reinsurance: technical ratios
| 2020 | 2021 | |
| Net loss ratio | 57.76% | 44.66% |
| Net management expenses ratio | 97.88% | 83.29% |
| Net combined ratio | 155.64% | 127.95% |
FBC Reinsurance: management
| Canada Malunga | Chairman of the board |
| Kleto Chiketsani | Managing director |
| Alice Chieza Shumba | Executive director – operations |
| Joaquim T Matsvimbo | Executive director, finance and administration |
| Reginald Tshuma | Head of risk management |
| Dorcas Rudo Chihota | Head - Life and health |
| Covenant Kondon | Underwiting manager |
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 FBC Re
Read also | Reinsurance in Sub-Saharan Africa [5]
