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Regulator keeps eagle eye on troubled Zim insurer
Taurai Mangudhla ·
INSURANCE sector regulator, Insurance and Pensions Commission (Ipec) has moved to protect policyholder interests in two local entities under its purview after their holding company was slapped with a lawsuit in Zambia.
The firms, Evolution Insurance Company and Evolution Health and Life Assurance Company, are part of a diversified Zimbabwean outfit called Evolution Group, which is alleged to have failed to settle a US$150 000 loan advanced by Lusaka’s Pan African Building Society (PABS) in 2015.
The Evolution Group was at the time said to had been talking to a Zambian firm called African Zambezi Limited to ink a merger deal.
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