Insurance Companies in Zimbabwe | Web & Contacts Directory/Listing

Alliance Insurance Company (Pvt) Ltd is a wholly owned Zimbabwean leading short-term insurance company with a track record of unsurpassed customer care and innovation, traits that have seen it slowly grow into Zimbabwe's leading short-term insurance company in its first decade of operation. Having opened its doors to the insuring public on 1st January 2003, the company after attaining a licence to transact in foreign currency, moved to become the country's pioneer forex business underwriter in the year 2004. A report released by the Insurance Council of Zimbabwe (ICZ) in the year 2006 rated the company Zimbabwe's fastest-growing short-term insurance company which was later evidenced by the company being acknowledged the market leader in the year 2009 having acquired a market share of 14.21% and a Gross Premium Written (GPW) in excess of Ten million United States Dollars (US$10,000,000.00) (source, Insurance and Pensions Commission 2009 Fourth Quarter Insurance Report).

CBZ Life Limited was established in 2010 and licensed to transact long term insurance business. CBZ Holdings has 100% shareholding in the company. The newly formed CBZ Life has on board shareholders, directors, management and staff who have a wealth of experience in life insurance. Funeral Insurance involves providing a pre-defined benefit amount on the client’s death payable immediately to the specified beneficiary of the policy holder`s estate. Credit Life Insurance entails the provision of a benefit amount equal to the loan amount outstanding (or alternatively an amount equal to the original loan) in the event of the client’s death (and possible disability). In addition the loan repayments of 3 or 6 months can be paid in the event of retrenchment. Term insurance involves providing a pre-defined benefit amount in the event of the client’s death payable to the specified beneficiary of the policyholder`s estate

Fidelity Life Assurance was first incorporated in the United Kingdom as Legal and General (Pvt) Ltd. In 1936, Legal and General opened a branch in Bulawayo in the then Rhodesia. In 1988, a local consortium then bought the long-term assurance division and changed its name to Fidelity Life Assurance. Since inception, Fidelity Life Assurance has been offering superior and innovative assurance products. Over the years, Fidelity Life has been developing and continues to develop products and services that ensure that members receive maximum returns and adequate cover when they need it. Fidelity Life was listed on the Zimbabwe Stock Exchange in 2003 and later in 2005 became the first Insurance Company to be ISO certified. To this day we have managed to retain our ISO certification, as we endeavor to deliver quality service to our clients

First Mutual Holdings Limited is a leading financial services group that is committed to creating value through risk management, wealth creation, and wealth management predominantly in the insurance sector. The group has more than a hundred years of serving Zimbabwe through provision of economic dignity though its strategic business units

First Mutual Life is a wholly owned subsidiary of First Mutual Holdings Limited whose primary business activities are the provision of life assurance, retirement benefit products and other long-term financial security products.

The life assurance industry is currently comprised of many players, namely First Mutual Life, Old Mutual Life Assurance Company Limited, ZB Life, Fidelity Life Assurance of Zimbabwe Limited, Zimnat Life Assurance Company Limited, Altfin Life, Evolution, IGI and CBZ life. First Mutual Life is currently the second largest life assurer in the market on a gross premium income basis. Although most sectors had been affected negatively for the past few years by the economic downturn, the insurance industry has managed to work extensively on regaining consumer confidence and recent statistics reveal a welcome increase in new business sales. This emphasizes the success of the industry in reforming itself and winning back the faith of the Zimbabwean consumer. In efforts to diversify services that meet clients’ needs and various tastes, First Mutual Life offers a wide range of insurance services. In addition, a regional expansion programme is being actively pursued.

In Zimbabwe Glenrand M·I·B was formed in July 1999 with the merger of Farming & Industrial Insurance Brokers (FIIB) and Agricultural & Insurance Brokers (AGI).Glenrand M·I·B (Zimbabwe) (Pvt) Ltd operates branches in Harare and Bulawayo. The company ranks among the top 5 insurance intermediaries in Zimbabwe. Glenrand M·I·B Zimbabwe (Pvt) Ltd's shareholders are: Broadway Investments, Outcrop (Pvt) Ltd, FIIB Pvt Ltd, and FC Frith Investments.

Heritage Insurance Company of Zimbabwe (Private) Limited was formed from the union of Legal and General and Norwich Union. A recent merger with IGI has increased our services to include Life Assurance and Credit Insurance. Heritage Insurance has a proven record of security and professionalism together with efficiency based on sound principles. With a talented select team delivering service excellence, this has made us, one of Zimbabwe's finest insurers for over seventy years.

The National Insurance Company of Zimbabwe (NICOZ) was formerly known as NEM before its acquisition by ZIMRE in 1988. Pearl General Insurance Company (Private) Limited was incorporated in 1979, before changing its name to Diamond Insurance company in 1994 when Pearl Assurance Plc of the United Kingdom sold its business interests in Zimbabwe. On 1 January 2002, NICOZ and DIAMOND merged to form NicozDiamond (NDI) and subsequently listed on the Zimbabwe Stock Exchange in the same year. NicozDiamond (NDI) is the leading Short-term Insurance Company and only short term insurer listed on the Stock Exchange. The Company is known for its excellence in service and listening to the valued clients. NDI has branches in all major towns. The NicozDiamond brand has spread its wings to have its presence in Zambia, Malawi and Uganda. The company also prides itself in being the only ISO certified short-term insurance company in Zimbabwe, having attained such certification in 2006.

The Deposit Protection Corporation (DPC) is a statutory body previously known as the Deposit Protection Board established on 1 July 2003 in terms of the Banking Act [Chapter 24:20] as read with Banking (Deposit Protection) Regulations, Statutory Instrument 29 of 2003. The Corporation assumed the new name in terms of the Deposit Protection Act [Chapter 24:29], No. 7/2011 which came into effect on 16 March 2012 which also resulted in the Corporation's mandate being expanded from being a paybox to that of a risk minimiser whose responsibilities now include resolution of failing or failed banks, curatorship and liquidation of closed banks. The enhanced mandate has enabled DPC to effectively carry out its objectives in line with international best practice. The Corporation's primary objective is to provide deposit protection to depositors in deposit taking institutions licensed by the Reserve Bank of Zimbabwe under the Banking Act (Chapter 24:20) and Building Societies Act (

ZB Life Assurance Limited, previously known as Intermarket Life Assuarance Limited, commenced operations in 1964 as a subsidiary of The African Life Assurance Society. The Company went through several reorganisations that resulted, in the Company being 100% owned by Southern Life Association of South Africa in 1985. In line with the local majority shareholding provision of the Insurance Act, Southern Life reduced its stake in the company to 49% in 1994. On 1 May 1998, the remaining stake was sold to Intermarket Holdings Limited in support of the Government's economic empowerment drive. As a result, Intermarket Holdings Limited became the major shareholder in the Company with a shareholding of 57%. In April 2002, the Company changed its name to Intermarket Life Assurance Limited. The successful conclusion in 2005 of the Scheme of arrangement that was put in as a solution to the challenges faced by Intermarket in 2004 paved the way for ZB Financial Holdings Limited to purchase Intermar

ZB Reinsurance is the re-insurance arm of ZB Financial Holdings Limited, offering a diverse range of re-insurance services. Established as Intermarket Reinsurance Limited in a joint venture between Hollandia Reinsurance of South Africa and Intermarket Holdings Limited, the company was renamed ZB Reinsurance subsequent to the merger of Intermarket Holdings Limited and the ZB Financial Holdings Group. We are in business to provide facultative and treaty reinsurance solutions and financial security to local and regional insurance companies, reinsurers, medical aid societies and special type clients/consortiums. We also offer risk management solutions and technical reinsurance training to our valued clients. Our service delivery standards are unmatched and are consistent with our group's vision and values that enunciate business excellence and peerless customer focus. ZB Reinsurance has a robust retrocession program that is underwritten by several Lloyds of London Syndicates. This

Zimnat Life Assurance Company Limited also known as Zimnat Life is a 100% owned subsidiary of TA Holdings . Zimnat Life has been in operation for over 50 years. The company formed in 1961 as the Insurance Company of Rhodesia (ICR) . ICR then renamed to The Insurance Company of Zimbabwe (ICZ) in 1980. The company in 1984 settled on the name Zimnat Life Assurance Company when TA Holdings increased its stake from 49% to 100%.