THE life assurance sector reported significant asset growth in the second quarter of 2024, largely driven by property revaluation gains in Zimbabwe’s expanding property market.
According to the Insurance and Pensions Commission (IPEC), direct life assurers increased their total assets from US$364,30 million as of March 31, 2024, to US$505,16 million by June 30, 2024.
Life reassurers also saw notable growth, with their assets rising by ZiG125,38 million (US$9,15 million), marking a 114 percent increase from US$4,28 million at the end of March.