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Published: 20 December 2013

Funeral companies in Zimbabwe wrote gross premiums amounting to $24 million in the third quarter of the year, a 46 percent growth from figures reported in same period last year, according to figures from a report by the Insurance and Pensions Commission (IPEC).

The report revealed that costs grew by 70 percent, a red flag for the need to spread risks via reinsurance and cost optimization companies.

The report says previous financial statistics have been transferred out accordingly for comparative parity of this current report with corresponding review periods.

The report is based on nine players. Nyaradzo and Fidelity Funeral Companies are now life assurance companies.

Their previous financial statistics have been transferred out accordingly for comparative parity of this current report with corresponding review periods.

As highlighted by the table below total assets grew by 25 percent to $38 million from $30 million reported last year.

In contrast, liabilities grew by 38 percent to $16 million. The capital to liability (solvency) ratio was 124 percent implying adequacy to cover existing liability.



- bh24

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