| Life premium volume (USD) | 58 mn |
|---|---|
| Non-life premium volume (USD) | 117 mn |
| Total premium volume | 176 mn |
| Total premium volume (ZWL) | 176 mn |
| Insurance penetration: Premiums in % of GDP | 1.86% |
| Insurance density: Premium / capita USD | 14.2 |
| Local currency | ZWL |
| Domestic life insurers | 20 |
|---|---|
| Domestic non-life insurers | 27 |
| Domestic composite insurers | |
| Foreign life insurers | |
| Foreign non-life insurers | |
| Foreign composite insurers | |
| Domestic reinsurers | 11 |
| Foreign reinsurers | 1 |
| State-owned insurers | |
| State-owned reinsurers | |
| Insurance intermediaries | |
| Reinsurance intermediaries |
| Overarching principle in insurance supervision | Financial supervision |
|---|---|
| Requirement for minimum insurance rates | No |
| Cross-border insurance allowed | Yes |
| Bancassurance is allowed | Yes |
|---|---|
| Allowed ownership structures | Stock Companies, Mutuals |
| Foreign ownership restrictions | Yes |
| Minimum capital requirement | USD 1.5mn |
| Minimum paid-up share capital | USD 1.5mn |
| Requirement for independent audits | Yes |
| Requirement to appoint actuaries | Yes |
| Premium rate approval needed | No |
| Solvency referred to as the difference between assets and liabilities | Yes |
|---|---|
| RBC (Risk-based capital) principles applied | Yes |
| Ceded reinsurance is regarded as a permissible asset | Yes |
| Compulsory insurance lines | Motor TPL, WC, Certain Marine |
| Compulsory reinsurance cessions | No |
| Established guarantee or policyholder protection fund | Yes |
|---|
