THE Insurance and Pensions Commission (Ipec) says Zimbabwe’s funeral and life assurers’ uptake of reassurance remains low, raising the risk of insolvency among players in the two subsectors.
Ipec has for long called on the subsectors to retain less risk through reassurance with the regulator’s reports from as far back as 2015 showing that life and funeral assurers have skimped on retrocession for a long time.
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Reassurance, which is also known as stop-loss insurance, is the practice whereby insurers transfer portions of their risk portfolios to other parties by some form of agreement to reduce the likelihood of paying a large obligation resulting from a
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