Zim life assurers’ losses increase

ZIMBABWE’S life assurance sector after tax loss widened by 156% to $247,7 million in the first quarter of 2019 compared to the same time last year due to a combination of increased net claims coupled with declining investment income, an Insurance Pensions Commission (Ipec) report has revealed.

In its life assurance sector report, industry regulator, Ipec, said the loss position was from $96,8 million, recorded during the same period last year.

“Total profit after tax for life assurers decreased by a huge margin of 156% from a negative $96,8 million for the quarter ended March 2018 to a negative $247,7 million for the quarter ended March 31, 2019.

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