The Zimbabwe guide in full
Who regulates insurance in Zimbabwe
IPEC registers insurers, mutual insurance societies and insurance brokers, supervises them and informs the public, under the Insurance and Pensions Commission Act [Chapter 24:21], the Insurance Act [Chapter 24:07] and the pensions law; it reports to the Ministry of Finance (IPEC FAQs).
The Insurance and Pensions Commission Amendment Act, 2026, in effect since 24 April 2026, adds medical aid societies and NSSA to the entities IPEC registers, creates a policyholder protection fund and an appeal to the Minister within 14 days (IPEC Circular 13 of 2026). More: IPEC.
The insurance market in figures
From the IPEC 2025 Annual Report (figures at 31 December 2025):
| Indicator | Figure |
|---|---|
| Insurance revenue, all direct underwriters, 2025 | ZWG 16.28 billion (+36%) |
| of which short-term insurers / life assurers | ZWG 8.15 billion / ZWG 7.57 billion |
| Total insurance sector assets | ZWG 34.98 billion (+18%) |
| Insurance penetration | "around 2%" |
| Insurance complaints received by IPEC, 2025 | 318; 311 of 341 handled were resolved |
Zimbabwe uses two currencies side by side. The Reserve Bank reports that the ZiG/US$ exchange rate oscillated between ZiG25 and ZiG27 per US dollar in the third quarter of 2026, and that ZiG transactions stayed above 40% of the national payment system (RBZ, Q3 2026 snapshot). ZINARA, for example, accepts both (ZINARA).
Where to start
| You want to… | Read |
|---|---|
| License and insure a vehicle | ZINARA licence and vehicle insurance · ZINARA fee calculator · Motor insurance |
| Choose medical aid | Medical aid societies compared · CIMAS · PSMAS |
| Protect a family | Funeral cover · Nyaradzo funeral policy · Life insurance |
| Run a business or employ staff | Business insurance · NSSA workers' compensation · NSSA calculator |
| Check an insurer or complain | Registered insurers · Check an insurer, agent or broker · Complaints to IPEC |
Frequently asked questions
Is car insurance compulsory in Zimbabwe?
Third-party insurance is: section 22 of the Road Traffic Act [Chapter 13:11] forbids using a vehicle on a road without a third-party policy or security in force. ZINARA sells insurance together with the vehicle licence.
Who regulates insurance companies in Zimbabwe?
IPEC, the Insurance and Pensions Commission, under the Insurance Act [Chapter 24:07] and the Insurance and Pensions Commission Act [Chapter 24:21], amended in 2026.
How many insurance companies are there in Zimbabwe?
IPEC's list retrieved on 31 October 2026 names 20 short-term insurers, 11 active life assurers, 9 active funeral assurers and 16 microinsurers, plus reinsurers. See the full list.
What currency is used for insurance in Zimbabwe?
Both the US dollar and the ZiG (ZWG). IPEC reports the sector's figures in ZWG; insurers and medical aid societies sell USD and local-currency products.
Sources
- IPEC — FAQs: functions of the Commission, the Acts it applies, contacts
- IPEC — Circular 13 of 2026: promulgation of the IPEC Amendment Act, in effect from 24 April 2026 (11 May 2026)
- Insurance and Pensions Commission Amendment Act, 2026 (No. 2 of 2026) — IPEC copy
- IPEC — Regulated entities: life assurers, short-term insurers, funeral assurers, microinsurers, reinsurers, brokers, agents and assessors (retrieved 31 October 2026)
- IPEC — 2025 Annual Report (published June 2026; figures at 31 December 2025)
- Road Traffic Act [Chapter 13:11], Parts IV and V (compulsory third-party insurance, yellow card) — ZimLII copy (Web Archive, 26 March 2024)
- ZINARA — Vehicle licensing: products (licence, insurance, radio licence), fees under SI 67 of 2024, payment
- Reserve Bank of Zimbabwe — Snapshot on monetary, currency, price and financial developments, Q3 2026
- IPEC — Consumer complaints procedure