Executive proposes insurance pools for Zimbabwe markets

P&C Reinsurance managing director Boas Manzvera says the Zimbabwe market needs to consider raising pools of finance for weather-related events owing to the increased frequency of such phenomena.

Climatic shocks are beginning to be experienced more frequently, with the current year seeing southern Africa experiencing its worst drought ever as a result of the El Niño phenomenon.

Speaking at last week’s Insurance Institute of Zimbabwe Winter School, Manzvera said insurance pools were used as a way of providing high risk insurance exposures such as catastrophes.

This story is for NewsDay subscribers.