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Zimbabwe’s best Insurance Companies

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Zimbabwe's best Insurance Companies

Zimbabwe’s best Insurance Companies- The general insurance market in Zimbabwe experienced growth at a compound annual growth rate (CAGR) of 0.1% between the years 2016 and 2021, going from $0.2 billion to $0.2 billion in total market value.

According to the available information, the most successful businesses controlled 71.3% of the total general insurance market in Zimbabwe.

1. Zimnat Lion Insurance Zimnat Lion Insurance achieved the highest growth rate of any company in the country, showing an increase of 89.4% when compared to the premium from the previous year. Its ranking among the top general insurance companies stayed the same from the previous year, maintaining its status as one of the top positions overall.

2. Nicoz Diamond Insurance The general insurance sector in Zimbabwe was led by Nicoz Diamond Insurance, which held the number two position. When compared to the premium in the year 2020, the corporation recorded a growth of 127.2%. When compared to the ranking it held the year before, there was no change in the position that it held among the most successful general insurance businesses.

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3. The Old Mutual Insurance Corporation In terms of the country’s general insurance market, Old Mutual Insurance had the third-place position. When compared to the company’s premium from the year before, this year’s figure represents a gain of 113.9%. Its ranking among the top general insurance companies stayed the same from the previous year, maintaining its status as one of the top positions overall.

4. Cell Insurance, which came in at position number four in the general insurance market in Zimbabwe, had its premium increase by 137.3% when compared to the same period the previous year. Its ranking among the top general insurance companies stayed the same from the previous year, maintaining its status as one of the top positions overall.

5. Alliance Insurance (Pvt) In terms of Zimbabwe’s general insurance market, Alliance Insurance(Pvt) held the number five position. When compared to the premium from the previous year, the company had a growth of 74.9%.

Read Also: Job Opportunities On Cruise Ships For Zimbabweans

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Its ranking among the top general insurance companies stayed the same from the previous year, maintaining its status as one of the top positions overall. Methodology This study was derived from the Company LoB Breakdowns Database that is maintained by GlobalData.

This database monitors key insurance parameters across various segments, categories, and lines of business for more than 150 markets around the world.

The information was obtained from the relevant regulatory authorities, industry organizations, and corporate SFCRs. In accordance with the general Industry Native Taxonomy Structure that we use, this data has been mapped to various segments and categories.

The calculations are based on premiums that have been normalized according to the order of preference listed below.

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Gross Written Premiums

Direct Written Premiums

Net Earned Premiums

Net Written Premiums.

The parent firm of Verdict, GlobalData, is a provider of business information to 4,000 of the most successful corporations in the world.

 

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