THI and Zimnat announce underwriting management agency agreement

THI and Zimnat announce underwriting management agency agreement
Published: 21 February 2019 (2999 Views)
THI Insurance has entered into an underwriting management agency agreement with Zimnat General Insurance that will result in THI being underwritten by Zimnat, in conjunction with Santam Agriculture, through Zimnat's shareholder partnership with Sanlam, the largest non-banking financial institution on the African Continent.

The agreement, which came into effect on January 1, 2019, will enable Zimnat to leverage off THI's agricultural insurance heritage and expertise, whilst THI will ultimately become part of the much larger Zimnat/Sanlam Insurance Group.

"THI has an 80 year heritage of agricultural insurance expertise, a market presence and brand reputation that will give Zimnat and Santam Agriculture immediate access to a sector of the insurance market that has pledged to assist in the resurgence of agriculture within the Zimbabwe economy," explained Zimnat Group chief executive Mustafa Sachak.

"Agriculture requires a completely different approach to designing insurance products that respond to the changing needs of the Zimbabwe farmer and their upstream and downstream service suppliers. THI, Zimnat and Santam Agriculture have the resources and determination to respond to this demand" "In return, THI will ultimately become part of a much larger insurance group with Zimnat's A security rating for writing business and the international backing of the Sanlam/Santam group which has a triple A rating.

"Santam Agriculture, a specialist division of Sanlam, has developed technical assistance and state-of-the art agricultural insurance services, using worldwide and regional research, backed by leading international reinsurers.

"All these resources will be made available to assist in developing unique risk management and transfer solutions that the Zimbabwe insurance market can offer to its clients," he said.

"This powerful combination of experience, skills, resources, security and brand heritage will bring significant competitive advantage to THI and Zimnat and this will translate into better service and enhanced product offerings to our broker and client relationships," said Stanley Mazorodze, the Zimnat General Insurance managing director.

 "This is a really exciting development for the Zimbabwe insurance industry and will prove to be of immense benefit to the economy at large and more specifically the agricultural sector.

"We look forward to rolling it out over the next few months and adding more value to our relationships with brokers, clients and all elements of the agricultural industry chain," he said.

- Agencies

 0

You May Like These Videos

Comments

There are no comments.

Latest stories

Prophet Makandiwa mansion raises eyebrows

by Staff Reporter | 22 July 2019 | 64 Views

Exposed Ramaphosa reacts to Public Protector's report

by Staff Reporter | 22 July 2019 | 41 Views

UCE graduation ceremony

by Dr. A. Luthuli | 22 July 2019 | 43 Views

ZERA looking to remote fuel monitoring system

by Staff reporter | 22 July 2019 | 46 Views

The corruption commission

by Clemen Moyo | 22 July 2019 | 54 Views

Government speaks on Auxilia Mnangagwa - Army fallout

by Mandla Ndlovu | 21 July 2019 | 193 Views

Chinamasa's world up in flames

by Mandla Ndlovu | 21 July 2019 | 175 Views

Teachers to shutdown schools on Monday

by Mandla Ndlovu | 21 July 2019 | 152 Views

Zimbabwe govt licenses companies for riverbank mining

by Staff Reporter | 21 July 2019 | 99 Views

ZCTU proceeds with demo preps

by newzimbabwe | 21 July 2019 | 148 Views

Mnangagwa pledges support for women's projects

by Staff reporter | 21 July 2019 | 90 Views

Mthuli Ncube needs to work his magic on inflation

by Staff reporter | 21 July 2019 | 114 Views

'The electorate believes in Zanu-PF'

by STaff reporter | 21 July 2019 | 95 Views

Mnangagwa gets Sadc boost

by Staff reporter | 21 July 2019 | 103 Views

Power shortage hits mobile phone services

by Staff reporter | 21 July 2019 | 79 Views

City fathers or city dealers at council chambers?

by Limukani Ncube | 21 July 2019 | 89 Views

Bulawayo residents call for dissolution of council

by Staff reporter | 21 July 2019 | 82 Views

Nust bursar suspended

by Staff reportet | 21 July 2019 | 82 Views

Mid-air scare for fastjet passengers

by Staff reporter | 21 July 2019 | 79 Views

Exploring the causes of Gukurahundi

by Dr Obert Mpofu | 21 July 2019 | 107 Views

Lobels shut down Bulawayo plant again

by Staff reporter | 21 July 2019 | 96 Views

Harare demands 30-year-old debt from Zesa

by Staff reporter | 21 July 2019 | 77 Views

Kalanga lobby group to produce textbooks

by Staff reporter | 21 July 2019 | 75 Views

Govt moves to tackle gold leakages

by Staff reporter | 21 July 2019 | 68 Views

Mthuli Ncube to rescue closed mines

by Staff reporter | 21 July 2019 | 84 Views

Zimbabwe reels as 18-hr power cuts

by Staff rpeorter | 21 July 2019 | 120 Views

Kirsty Coventry denies interference

by AFP | 21 July 2019 | 60 Views

Zimbabwe removes barriers to solar energy expansion

by Thompson Reuters Foundation | 21 July 2019 | 110 Views

Zimbabwe food crisis an emergency, says UN

by VOA/ UN News | 21 July 2019 | 58 Views

Can Bosso's Prince rise again?

by Staff reporter | 21 July 2019 | 36 Views

CIO operative harasses journalists

by Staff reporter | 21 July 2019 | 35 Views

Save Bulawayo from vultures

by Staff reporter | 21 July 2019 | 70 Views

The pig in Mthuli Ncube's bacon

by Zifiso Masiye | 21 July 2019 | 91 Views

Mnangagwa ally faces probe in $3bn scandal

by Staff reporter | 21 July 2019 | 48 Views

Power outage cripples Econet services

by Staff reporter | 21 July 2019 | 56 Views

Lobengula descendants demand State House

by Staff reporter | 21 July 2019 | 47 Views

Zanu-PF vote-buying scandal raises alarm

by Staff reporter | 21 July 2019 | 66 Views