Photo: Seabifar, Wikimedia Commons, CC BY-SA 4.0IPEC: the Insurance and Pensions Commission of Zimbabwe
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What IPEC does
IPEC's functions include registering insurers, mutual insurance societies and insurance brokers and regulating their business, monitoring their compliance, and informing the public about insurance and pensions (IPEC FAQs). Its complaints units handle complaints against insurers, brokers, agents and pension funds, free of charge (complaints procedure).
The 2026 Amendment Act
- In effect from 24 April 2026 (IPEC Circular 13 of 2026).
- IPEC now registers "insurers, mutual insurance societies, insurance brokers, medical aid societies and pension and provident funds and the National Social Security Authority" (new section 4(1)(a)).
- A Policyholder and Pensions and Provident Fund Members Protection Fund (sections 23E to 23T) pays compensation when a contributor becomes insolvent.
- Appeals against a decision of the Commission go to the Minister within fourteen days (new section 32C).
Text: Insurance and Pensions Commission Amendment Act, 2026.
The insurance sector in 2025
| Insurance revenue written by direct underwriters | 2025 (ZWG million) | 2024 restated (ZWG million) | Change |
|---|---|---|---|
| Short-term insurers | 8,153.69 | 6,798.30 | +20% |
| Life assurers | 7,565.45 | 4,655.28 | +63% |
| Funeral assurers | 286.36 | 215.47 | +33% |
| Microinsurers | 279.22 | 342.10 | −18% |
| Total | 16,284.72 | 12,011.15 | +36% |
| Registered at 31 December 2025 | Number |
|---|---|
| Short-term insurance companies | 21 |
| Life assurers | 12 |
| Funeral assurers | 7 |
| Microinsurance companies | 16 |
| Reinsurance companies / life reinsurers | 10 / 5 |
| Insurance brokers | 29 |
| Life assurance agents | 1,757 |
| All registered entities and persons | 2,686 |
Source: IPEC 2025 Annual Report. Total insurance assets were ZWG 34.98 billion, and insurance penetration "remained around 2%".
Contact IPEC
IPEC head office: 160 Rhodesville Avenue, Greendale, Harare; enquiry@ipec.co.zw; WhatsApp +263 772 154 281. Complaints handling offices: Kingstons House, corner Kwame Nkrumah Avenue and Leopold Takawira Street, Harare (+263 242 749491/94), and Office 18, Bulawayo Centre, corner Joshua Nkomo Street and 9th Avenue, Bulawayo (+263 292 261822) (IPEC FAQs, contact).
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Frequently asked questions
What does IPEC stand for?
Insurance and Pensions Commission, the regulator of insurers, insurance brokers and pension funds in Zimbabwe, reporting to the Ministry of Finance.
Does IPEC regulate medical aid societies?
Since 24 April 2026 the Insurance and Pensions Commission Amendment Act gives IPEC the power to register and supervise medical aid societies. IPEC says it is working on the transition.
How do I contact IPEC?
160 Rhodesville Avenue, Greendale, Harare; enquiry@ipec.co.zw; WhatsApp +263 772 154 281. Complaints: complaints@ipec.co.zw or the complaints offices in Harare and Bulawayo.
Sources
- IPEC — FAQs: functions of the Commission, the Acts it applies, contacts
- IPEC — Consumer complaints procedure
- Insurance and Pensions Commission Amendment Act, 2026 (No. 2 of 2026) — IPEC copy
- IPEC — Circular 13 of 2026: promulgation of the IPEC Amendment Act, in effect from 24 April 2026 (11 May 2026)
- IPEC — 2025 Annual Report (published June 2026; figures at 31 December 2025)
- IPEC — Contact us: head office and complaints handling offices in Harare and Bulawayo
- Insurance and Pensions Commission (IPEC) — official website