IPEC successfully hosts 6th AGM

The Insurance and Pensions Commission (IPEC) successfully held its 6th Annual General Meeting on Friday 28 June, in Harare.

The meeting was attended by all the key stakeholders, including the Ministry of Finance, Economic Development, and Investment Promotion, the Parliamentary Portfolio Committee on Finance, Economic Development and Investment Promotion, State Enterprises Restructuring Agency (SERA), the Auditor General’s Office, the Office of the Accountant General, fellow financial sector regulators, and the insurance industry represented their associations.

Deputy Minister of Finance, Economic Development and Investment Promotion, Honourable, David Kudakwashe Mnangagwa attended the Annual General Meeting.

In his remarks at the meeting, Honourable Mnangagwa stated that Government is committed to creating an enabling environment for the insurance and pensions industry to thrive.

“Undoubtedly, this is a strategic sector of the economy owing to its unparalleled capacity to mobilise resources for risk mitigation and savings for financial intermediation,” he said. “As such, our Ministry is alive to the pending legal reforms required to create the enabling legal framework for insurance and pensions.

“I wish to update you that the IPEC Amendment Bill is set for gazetting and will be introduced to Parliament shortly. My office is also seized with ensuring that the Insurance Bill, which seeks to amend and repeal the current Insurance Act [Chapter 24:07] is also timely gazetted and introduced to Parliament.”

Honourable Mnangagwa said he was equally interested in seeing the Actuaries Bill being drafted and gazetted.

He said while actuaries are guided by the professional standards of their professional bodies, the trend the world over is that they should also abide by local standards.

“At this juncture, I wish to give assurance to IPEC and stakeholders represented here that the Actuaries Bill will be introduced in Parliament soon. Thus, as stakeholders represented at this meeting, you need to stand ready to provide your input into this Bill,” he said.

More pictures from the AGM here