Zimbabwe Insurance and Pensions Commission has outlined reforms under the Government’s National Development Strategy 2 aimed at supporting renewed growth and greater competitiveness in Zimbabwe’s insurance market, with macroeconomic stability framed as the enabling foundation. The strategy highlights five priority interventions: reviewing regulatory requirements to reduce administrative burdens on insurers; domestication of marine insurance to retain premiums in-country; extending insurance cover to public assets including those under the Mutapa Investment Fund; introducing compulsory insurance schemes for high-risk activities such as artisanal mining alongside tailored products for small and medium enterprises; and expanding agricultural index-based insurance to provide more affordable climate risk protection for farmers. Government expects these measures to help rebuild trust, enhance competitiveness, and align the sector with international best practice while supporting national productivity and trade.
Zimbabwe Insurance and Pensions Commission 2025-12-03
Zimbabwe Insurance and Pensions Commission sets out five National Development Strategy 2 reforms for the insurance sector
The Zimbabwe Insurance and Pensions Commission announced reforms under the National Development Strategy 2 to boost growth and competitiveness in the insurance market, emphasizing macroeconomic stability. Key interventions include reducing administrative burdens, domestication of marine insurance, compulsory insurance for high-risk activities, and expanding agricultural index-based insurance. These measures aim to rebuild trust, enhance competitiveness, and align with international best practices.