Photo: Sputniktilt, Wikimedia Commons, CC BY-SA 4.0Life insurance in Zimbabwe
The life assurers and your rights
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The life assurers
CBZ Life, Doves Life Assurance, Econet Life, Evolution Health & Life Assurance, Fidelity Life Assurance, First Mutual Life Assurance, Nhaka Life Assurance, Nyaradzo Life Assurance, Old Mutual Life Assurance, ZB Life Assurance and Zimnat Life Assurance — names shortened from IPEC's list. The full names: insurance companies in Zimbabwe.
Your rights
- You may complain about a life assurer to IPEC after complaining to the insurer in writing; in 2025 IPEC handled 108 new complaints against life assurers (2025 Annual Report). See complaints.
- Funeral policies have their own rules on grace periods and paid-up cover (Insurance Act, s 60): see funeral cover.
- The Insurance and Pensions Commission Amendment Act, 2026 creates a protection fund (new sections 23F to 23Q) that pays compensation when a contributor becomes insolvent (Act, IPEC Circular 13 of 2026).
Life assurance in figures
| 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% |
Source: IPEC 2025 Annual Report. Life assurers held ZWG 19.06 billion of assets at 31 December 2025, 54% of the insurance sector.
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Frequently asked questions
How many life insurance companies are there in Zimbabwe?
IPEC's list retrieved on 31 October 2026 names 12 life assurers, of which Heritage Life had its registration cancelled on 5 May 2026: 11 active.
What happened to Heritage Life?
IPEC cancelled its registration on 5 May 2026 under the Insurance Act for breaching registration conditions. Policyholders should contact IPEC with their ID, policy number and a copy of the policy.
Is there a fund that protects policyholders in Zimbabwe?
The Insurance and Pensions Commission Amendment Act, 2026 (in effect 24 April 2026) creates a Policyholder and Pensions and Provident Fund Members Protection Fund to pay compensation when a contributor becomes insolvent.
Sources
- IPEC — Regulated entities: life assurers, short-term insurers, funeral assurers, microinsurers, reinsurers, brokers, agents and assessors (retrieved 31 October 2026)
- IPEC — Notice of cancellation of Heritage Life Limited (5 May 2026)
- IPEC — 2025 Annual Report (published June 2026; figures at 31 December 2025)
- 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)
- Insurance Act [Chapter 24:07] (Acts 27/1988, 19/98, 22/2001, 3/2004) — IPEC copy