Govt targets 20% insurance penetration

By ZBC Reporter
GOVERNMENT is targeting to push insurance penetration to 20percent, Finance and Economic Development Minister, Professor Mthuli Ncube has said.
The government is keen to see an increase in insurance cover penetration among Zimbabweans as it is a key economic enabler.
Speaking to the Insurance and Pensions Commission (IPEC) board and employees during a familiarisation tour of the organisation, Professor Ncube said the government will support all efforts by the regulator, including providing incentives to the employees, to ensure that the target is met.
IPEC Commissioner, Grace Muradzikwa outlined the performance of the industry, highlighting the need to increase the levies charged to players in the industry.
Among other issues raised during the tour was the need to come up with a framework that ensures that the insurance and pensions industry does the right thing and brings back confidence, among the people.