Insurance and Pensions Commission

30/08/2023

WE ARE EXHIBITING AT ZAS!!

Visit us in the Convergence Hall and learn more about Insurance and Pensions! We have loads of giveaways for our visitors!

See you there ✨

29/08/2023

YOU MAY BE WONDERING.. WHAT WERE OUR MAJOR FINDINGS...

MORTALITY TABLES 103

The mortality in Zimbabwe has generally improved i.e., the
number of deaths in the country has decreased and the
average life expectancy has increased. The impact of the new tables on premiums and reserves was assessed against the standard tables from other countries for selected products. Overall, the new tables produced lower premiums and reserves than the
standard tables. However, there is a need to assess the impact on actual products, a process known as Quantitative Impact
Assessment (QIS).

What are your thoughts?

28/08/2023

A new start filled with endless possibilities! Wishing you a productive one!

Happy New Week!

25/08/2023

MORTALITY TABLES 103!
Country-specific mortality tables are ideal because they reflect the underlying mortality experiences of the country. Decisions, therefore, will be based on more relevant and appropriate experiences that reflect the demographic and economic experiences in Zimbabwe 🇿🇼

22/08/2023

We would like to inform our valued stakeholders that all our offices will be closed on the 23rd of August 2023.
For any urgent issues, please feel free to send us a message (WhatsApp +263772154281) or an email ([email protected]) and we'll get back to you as soon as we can.

22/08/2023

MORTALITY TABLES 102!

The tables are primarily used to determine the amount of
money that individuals would need to pay as premiums
when taking insurance policies. Insurance companies also
use the tables to determine the amount of funds that they
need to set aside towards meeting insurance claims when
insured events occur - these are called reserves.

What do you know about mortality tables? Share in the comment section.

21/08/2023

WE ARE HIRING!

Interested persons should submit their written applications together with a detailed CV and certified copies of ID, academic and professional qualifications by not later than close of business on Friday, 25 August 2023 to: Email: [email protected] or Hand Deliver to: 160 Rhodesville Avenue, Greendale, Harare

21/08/2023

MORTALITY TABLES 101!

As we are all aware, the Commission recently launched Zimbabwe specific mortality tables, hence we would like to educate the public on what they are and how they will impact the industry.

MORTALITY tables, also known as ACTUARIAL tables or LIFE tables,
are statistical tables that show the chances of individuals
surviving or dying at a particular age.

What do you know about mortality tables? Share in the comment section.

18/08/2023

DID YOU KNOW...

If you have a complaint against any of our regulated entities, you can lodge a complaint on [email protected] and our team will investigate the matter. Our services are free of charge!!

14/08/2023

Remembering our Gallant Sons and Daughters! Happy Heroes Day Zimbabwe 🇿🇼

05/08/2023

HAPPY WEEKEND!

Did you know we recently revamped our website? Visit our site on 👉🏾 www.ipec.co.zw for a refreshing experience and share your views with us in the comment section below

23/07/2023

Our team was in Gweru for the Midlands Provincial Show over the week.

We had a good time interacting with the people from the City of Progress, sharing knowledge on insurance and pension matters and exchanging ideas 💡

17/07/2023

ZIMBABWE DEVELOPS OWN MORTALITY TABLES!

We are thrilled to announce the development of Zimbabwe-specific mortality tables, a first of its kind since independence.
Mortality tables, also known as actuarial tables or life tables, are statistical tables that show the chances of individuals surviving or dying at a particular age.

Spearheaded by the Insurance and Pensions Commission (IPEC) in collaboration with the insurance and pensions industry, the country-specific tables will result in more accurate pricing of insurance products and reserving.

Mortality tables serve as a foundation for evidence-based decision-making covering healthcare, life assurance, pension schemes, and social security programmes.

The mortality tables were presented to the insurance and pensions industry and other stakeholders in Harare today.

IPEC appreciates all the organisations and individuals who were involved in this remarkable journey to ensure that we successfully develop Zimbabwe-specific mortality tables.

05/07/2023

03/07/2023

ATTENTION POLICYHOLDERS & PENSION SCHEME MEMBERS!

Remember, if you feel you have been treated unfairly by any of our regulated entities you can lodge a complaint with us on our social media platforms, WhatsApp 0772154281 or send an email to [email protected] for investigations.

We are here to protect YOUR rights and interests!

30/06/2023

The Commission successfully held it’s 5th Annual General Meeting today.
In attendance were key stakeholders who are key in the Commission achieving its mandate.
A special thank you to all the stakeholders who attended the AGM.

28/06/2023

IT'S INSURANCE AWARENESS DAY!!!

In commemoration of Insurance Awareness Day, today we challenge you to -

✔️ Review Your Policies
✔️Assess your coverage needs
✔️Make informed decisions to safeguard your assets and well-being.

What insurance policies do you currently have and are they upto date? Comment below!

27/06/2023

DID YOU KNOW?

Our 2023 Q1 reports are out now?

Find out more about how the Insurance and Pensions industry is performing in Zimbabwe .
How much do you think the insurance industry is worth now?
Follow link 👉👉 https://ipec.co.zw/insurance-reports/

26/06/2023

MONDAY TEASER!

(Bringing this back!)

Our country poses various opportunities in many industries, if YOU owned an insurance company, what INSURANCE PRODUCT would you come up with and why?

Share your answer in the comment section. The comment with the most likes WINS!

23/06/2023

DID YOU KNOW?

The insurance concept dates as far back to the city’s Great Fire of London, which occurred in 1666.

How long have you know about insurance?

22/06/2023

Attention policyholders!

Always buy insurance from registered insurance entities, which are authorised to provide insurance services.

Beware of unregistered entities. Some of them may offer lower premiums, yet do not have the necessary means or intention to pay claims.

When you deal with a registered entity and you feel you have not been treated fairly, you can complain to us for recourse. Find the list of registered insurance entities here: https://ipec.co.zw/insurance/view-entities/

Protect yourself and your assets by only dealing with registered insurance entities.

18/06/2023

“The support of a father is invaluable, and his love endures forever.” Happy Fathers Day!

15/06/2023

DON’T JUST SIGN!
Read to understand the policy terms and conditions before signing up for an insurance policy. This helps you to verify if the policy meets your needs. Where you don’t understand ask for assistance.

15/06/2023

We’re looking for a vibrant and creative Graphic designer to join our growing team! To apply, send your design portfolio and CV to [email protected]

02/06/2023

June is Insurance Awareness Month and we are excited to be sharing nuggets around the topic!
Tell us your experience with insurance in the comment section and let’s engage!

18/05/2023

Training

Click the link to register to join the IFRS 17 Preparation Session:

https://icaz-org-zw.zoom.us/webinar/register/WN_tSu2nzJjTbCyd8zMbpUE0A #/registration
Insurance and Pensions Commission

14/05/2023

Wishing all the Mother’s a memorable 🌎! You are irreplaceable♥️

09/05/2023

Yesterday morning, IPEC Commissioner, Dr Grace Muradzikwa hosted a breakfast meeting with insurance and pensions executives!

The purpose of the meeting was to engage with one another and share ideas and perspectives on the insurance and pensions industry.

It was an insightful and productive discussion on the state of the industry, the challenges, and opportunities that lie ahead.
.

04/05/2023

The IFC - International Finance Corporation, a division of the World Bank Group, is providing an 8-day training on agricultural index insurance to stakeholders in Zimbabwe.

The IFC and the Insurance and Pensions Commission signed an agreement in February 2022 to develop agricultural index-based insurance under the Africa Inclusive Insurance Programme.

The training started on Tuesday and runs until Thursday next week in Harare, with participants from IPEC, short-term insurers, the Ministry of Finance, and the Ministry of Agriculture.

Index insurance is an important tool for protecting farmers against crop losses and other climate-related disasters. Insurance payouts are triggered automatically following certain weather conditions.

The training is a step forward in building farmer resilience and promoting sustainable development in Zimbabwe.

28/04/2023

Day 4 at the ZITF!

We are honoured to have received the Minister of Finance, Prof Mthuli Ncube and all valued policyholders and pension scheme members who visited our stand today.

26/04/2023

We are exhibiting at the ZITF this week!
Visit our stand to learn more about insurance and pensions ✅

18/04/2023

Happy birthday to our beloved Zimbabwe 🇿🇼🇿🇼

17/04/2023

Are you passionate about reducing the risk protection gap and promoting financial inclusion in Africa? Join us for the launch of BimaLab Africa and be a part of the Insurtech innovation ecosystem! Register now at bit.ly/3zEQf1j

omondi
ACAPS & VOUS
IRA Uganda
Insurance and Pensions Commission
National Insurance Commission, Ghana
Naicom-NG
Insurance Regulatory Authority - Kenya
Central Bank of Rwanda
NBE-National Bank of Ethiopia
FSD Ethiopia

12/04/2023

Calling all startups, entrepreneurs, investors, and policymakers in the insurance and fintech industries! Join us for the launch of BimaLab Africa, a new Insurtech Accelerator Program that focuses on driving innovation and reducing the risk protection gap in Africa. Register now at bit.ly/3zEQf1j

omondi
ACAPS & VOUS
IRA Uganda
Insurance and Pensions Commission
National Insurance Commission, Ghana
Naicom-NG
Insurance Regulatory Authority - Kenya
Central Bank of Rwanda
NBE-National Bank of Ethiopia
FSD Ethiopia

07/04/2023

The Board, Management and Staff at the Commission wishes you and your family a happy and safe Easter holiday!

07/04/2023

It was a night of celebration as we honoured journalists who exhibited excellence in the coverage of insurance and pensions matters. Our interest is to see increased and quality coverage of the sector.
IPEC urges the media to continue educating the public on risk mitigation and retirement planning. Congratulations to the journalists who scooped prizes and a hearty THANK YOU to our Guest of Honour, Prof Mthuli Ncube and our sponsors for their contributions to make the event a success.

03/04/2023

We hereby publish the list of licensed Life Assurance companies, Short Term Insurance companies, Funeral Assurance companies, Microinsurance companies, Multiple Agents, Insurance Brokers, and Underwriting Management Agents authorised to conduct insurance business in Zimbabwe.
This is being done in the public interest. Insurance consumers are warned against conducting business with unlicensed entities. Those who have bought insurance policies from entities that are not on the list, can report to the Commission using the contact details below.

31/03/2023

We hereby publish this notice in the public interest.
IPEC hereby publishes the Top 50 sponsoring employers, by value, with pension contribution arrears aged 30 days and above as at 31 December 2022.
Employers that deduct pension contributions, are required in terms of section 2(a) of Statutory Instrument 61 of 2014, to pay contributions into the pension fund within 14 days from the end of the calendar month to which they refer.
IPEC calls upon trustees of the affected pension funds to put measures in place to ensure the defaulting employers remit outstanding contributions, for the benefit of their pension scheme members. In addition, labour organisations are encouraged to engage the employers who are not remitting pension contributions for the purposes of protecting members against old age poverty.
Following gazetting of the new Pension and Provident Funds Act [Chapter 24:32] into law on 2 September 2022, employers and pension fund trustees are urged to familiarise themselves with the deterrent provisions of the new Act regarding pension contribution.

29/03/2023

SCHOOL IS OUT BUT LEARNING NEVER STOPS!

How many financial literacy related words can you find in the word puzzle below? Complete and stand a chance to win Global Money Week Merch.

Winners to be announced Friday 31 March!

24/03/2023

We have wrapped off the Harare Metropolitan chapter of our Financial Literacy month. Next week our teams will be in Mashonaland Central equipping the children and youth in that area with financial knowledge.

“If everyone is moving forward together, then success takes care of itself” x Henry Ford
A big THANK YOU to our regulated entities who partnered with us during the week Old Mutual Zimbabwe CBZ Holdings Zimnat Cell Insurance & ZB Life Assurance.