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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Zimbabwean non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Zimbabwe's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Zimbabwean non-life (P&C) market as well as trends by line of business. Axco analysts also report on Zimbabwe's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes Zimbabwe insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Zimbabwe, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in Zimbabwe, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in Zimbabwe with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
The reintroduction of the Zimbabwe dollar in 2019 and the banning of foreign currency for domestic transactions was immediately followed by substantial depreciation, leading to the loss of value of fixed interest assets and cash, together with equivalent appreciation of real assets such as equities and property. Some accounts would be more vulnerable than others to the changing accompanying inflation rate as, for example, vehicle parts (mostly imported) became more expensive and sums insured rapidly became too low. Intermediaries regularly approached insureds to increase their sums insured and pay the additional premiums ....
This is a brief extract of information; more updated information may be available in the latest published report.