You are here
Home > Local Business > Reinsurers to consolidate: Expert

Reinsurers to consolidate: Expert

0
0

HARARE


A number of local reinsurance players will in future consolidate into strong global groups as Zimbabwe cannot sustain a closed insurance market, an insurance guru has said. Managing director of Pan African Reinsurance Brokers David Chinyemba said in line with current insurance regulations, reinsurance treaties were only placed with locally licensed players, a situation which presented the country as a closed market for reinsurance business. In 2000, the country had three indigenous reinsurance companies and one foreign branch. Currently, there are seven local players and one regional branch. Reinsurance gives the direct writer capacity to underwrite risks which are too large, too complex or too risky for the direct writer to entirely retain to its own account. – Newsday

0
0

Leave a Reply

10 − 5 =

Top