Table of Content




1 INTRODUCTION
1.1 What is this Report About?
1.2 Definitions

2 GOVERNCE, RISK AND COMPLIANCE
2.1 Legislation Overview and Historical Evolution
2.2 Latest Changes in Regulation
2.3 Legislation and Market Practice by Type of Insurance
2.3.1 Life insurance
2.3.2 Property insurance
2.3.3 Motor insurance
2.3.4 Liability insurance
2.3.5 Marine, aviation and transit insurance
2.3.6 Persol accident and health insurance
2.4 Compulsory Insurance
2.4.1 Motor third-party liability insurance
2.4.2 Workmen’s compensation
2.4.3 Professiol indemnity insurance for insurance intermediaries
2.5 Supervision and Control
2.5.1 African Insurance Organization (AIO)
2.5.2 Insurance and Pensions Commission (IPEC)
2.6 Non-Admitted Insurance Regulation
2.6.1 Overview
2.6.2 Intermediaries
2.6.3 Market practices
2.6.4 Fines and Pelties
2.7 Company Registration and Operations
2.7.1 Type of insurance organization
2.7.2 Establishing a local company
2.7.3 Foreign ownership
2.7.4 Types of license
2.7.5 Capital requirements
2.7.6 Solvency margin
2.7.7 Reserve requirements
2.7.8 Investment regulations
2.7.9 Statutory return requirements
2.7.10 Fee structure
2.8 Taxation
2.8.1 Insurance premium or policy taxation
2.8.2 Withholding taxes on premium paid overseas
2.8.3 Corporate tax
2.8.4 VAT
2.8.5 Captives
2.9 Legal System
2.9.1 Introduction
2.9.2 Access to court
2.9.3 Altertive dispute resolution (ADR)

3 APPENDIX
3.1 Methodology
3.2 Contact GlobalData
3.3 About GlobalData
3.4 GlobalData’s Services
3.5 Disclaimer



List of Figures



Figure 1: Zimbabwe - Insurance Supervision and Control at Various Levels
Figure 2: Zimbabwe - Insurance Regulatory Frameworks for Company Registration and Operation


List of Tables



Table 1: Insurance Industry Definitions
Table 2: Zimbabwe - Insurance Regulatory Framework Key Features
Table 3: Zimbabwe - Intermediary remuneration
Table 4: Zimbabwe - Life Insurance Regulatory Framework
Table 5: Zimbabwe - Property Insurance Regulatory Framework
Table 6: Zimbabwe - Motor Insurance Regulatory Framework
Table 7: Zimbabwe - Liability Insurance Regulatory Framework
Table 8: Zimbabwe - Corporate Tax Rates for the Financial Year 2020