Insurance Sector Set for Growth as NDS 2 Prioritises Market Reform
Zimbabwe’s insurance sector is expected to enter a period of renewed growth and greater competitiveness as Government implements targeted reforms under NDS 2.
According to the Strategy, macro-economic stability will provide the foundation for a vibrant insurance market, supported by specific measures aimed at strengthening industry performance and retaining value within the domestic economy.
The Strategy cites five key reforms in the insurance sector:
(i) Review of regulatory requirements to reduce the administrative burden on insurers.
(ii) Domestication of marine insurance to retain premiums within the country.
(iii) Insurance of public assets, including those under the Mutapa Investment Fund.
(iv) Introduction of compulsory insurance schemes in high-risk sectors such as artisanal mining and tailored products for small and medium enterprises.
(v) Expansion of agricultural index-based insurance to offer affordable climate risk protection to farmers.
Government believes these interventions will help rebuild trust, enhance competitiveness and align the industry with international best practice—ultimately ensuring that insurance services effectively support national productivity, trade and economic resilience.
For more on this, you can read NDS 2 from page 65. You can download the NDS 2 here