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By Alois Vinga
ZIMBABWE’s Life Assurers have overtaken the funeral business sector, writing business worth $852.5 million in the first quarter of 2021.
An Insurance and Pensions Commission (IPEC) first quarter performance report noted that this was 14 times more than the business written by dedicated funeral players.
Compared to dedicated funeral service providers, life assurance companies offer broad products such as funeral, term assurance, endowment, whole life, annuities, and pension administration.
“For the quarter ended 31 March 2021, life assurers wrote inflation adjusted funeral assurance business worth $852.56 million which was fourteen times more than the $56.90 million written by the dedicated funeral players,” read the IPEC report.
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