Zimnat Life Assurance Company Limited (Zimnat Life) was established in 1954 as the Assurance Company of Rhodesia. The company subsequently changed its name to Zimnat Life Assurance Company in 1984.
Zimnat is one of the more valuable life assurance companies in Zimbabwe.
Zimnat Life is a 100% owned subsidiary of Freecor Holdings Ltd, which in turn is wholly owned by TA Holdings Ltd and sells life insurance products in Zimbabwe under the Zimnat Life brand. Zimnat Life later diversified into asset management by establishing a self-standing asset management firm – Zimnat Asset Managers in 1999. Zimnat later invested as well in Sovereign Health Company Limited, which does administration for medical aid societies.
Zimnat Life has 100% interest in Zimnat Investment Corporation, Zimnat Property and Zimnat Asset Management.
Zimnat Investment Corporation is the entity through which Zimnat Life holds and trades in equity investments.
Zimnat Property houses and trades Zimnat Life’s property investments.
Zimnat Asset Management undertakes the asset management function on an agency and proprietary basis.
Zimnat Life aims to provide high-quality and competitive life insurance, pensions, annuities, health care and financial services products designed to help its clients create, preserve and transfer wealth so that they continuously improve their lifestyles and meet their business needs.
Zimnat Life offers a full range of insurance products covering life and pensions. The company’s products are targeted at individuals, groups and businesses.
Nature of business
Zimnat Life provides life assurance, pension and asset management services to a wide range of individual and corporate clients in Zimbabwe. The company’s products and services are classified under the following categories – Individual Business (Unit Linked Products, Endowment Policies and Whole Life) and Group Business (Group Pension Schemes, Credit Life and Group Life Assurance).
Zimnat Life has reassurance treaties with Zimbabwe Reinsurance Corporation Limited for individual business. The individual life business is targeted at individuals within both the formal and informal sectors while the bulk of the employee benefits business is derived from the formal sector. The key marketing strategy used by Zimnat Life is product differentiation.
Zimnat Life operates from two branches located in Harare and Bulawayo
Zimnat Life’s board of directors comprises of:
Nyajeka Bothwell – (Chairman
Javangwe Munyaradzi – (Managing Director
Thorn C.B. - Non Executive Director
Rukuni M Prof - Non Executive Director
Karombo M - Non Executive Director
Sachak M - Executive Director
Ebrahim Justice E - Non Executive Director
Bhadhella H A G - Non Executive Director
Patel S - Non Ececutive Director
Makoni F - Non executive Director
Mungwariri E - Non Executive Director
Zimnat Life Assurance Company Limited
Corner Nelson Mandela Avenue / Third Street
Telephone numbers: +263 (04) 707591-5 or 707581-5 or 701176-93
Web Page: http://www.zimnatlife.co.zw