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Zimbabwe

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Zimbabwe

Insurance Intelligence

Providing expert analysis, independent market insight and company data on the insurance industry.

Insurance market reports are produced following a country visit with interviews with professionals working in the sector with systematic updates to information throughout the cycle. Covering market developments, macroeconomic factors and comprehensive details of the regulatory environment including relevant taxation as well as market indicators and company statistics.

Axco’s Zimbabwe Non-Life Insurance Market Report (P&C) also comprises a detailed analysis of lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers’ liability and liability.

The Life & Benefits Report for Zimbabwe includes detail on social security, healthcare, individual life assurance and pensions information as well as market statistics and life company statistics

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Information for Zimbabwe can be seen in:

Insurance Market Reports (Non-Life) Insurance Market Reports (Life & Benefits) Employee Benefits Reports Global Statistics Regulatory Alerts Market Profiles Insight Compliance Insight EB Insight Risk Manager Axco API Clinical Trials Compliance Point

Country Information

Time-zone
Capital city
Currency
Population
Real GDP growth (%)
Inflation (%)
latest GWP
Insurance Penetration (%)
GMT +2
Harare
ZWD
17.30 mn
4.20 (2019)
3.66%
264.12 (mn)
1.00

Zimbabwe is a landlocked country covering 390,759 square kilometres, with a population estimated at 16.9 million in 2018. There is a substantial difference between population estimates that may be related to the number of persons displaced outside of Zimbabwe who are estimated to number over three million.

The non-life insurance industry grew by 9.49% in 2017 to a total gross written premium income of USD 236.47 Health insurance written by the medical aid societies is not classed as either life or non-life business and, according to market estimates, may in total exceed the sum of life and non-life premiums.

At the end of 2017, there were 20 registered non-life insurance companies in Zimbabwe, all of which were operational. In addition, there were eight reinsurance companies of which two had capital levels below the required minimum.

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