Zimnat Lion is one of the largest short-term insurers in the country and the most comprehensive source of short term insurance cover. They are in the business of accepting insurable risks from clients using established techniques to spread the risks and paying for economic loss sustained when a loss materializes.
Zimnat Lion was incorporated in 1974 as Rhodesia National Farmers and General Insurance Company Limited. The company, as currently constituted, is a result of the merger of Zimnat Insurance Company Ltd with Lion of Zimbabwe Insurance Company Ltd, which created the largest short-term insurer in Zimbabwe then.
TA Holdings Ltd has a 100% stake in Zimnat Lion through its 100% holdings in Freecor Holdings Ltd and Bude Holdings Ltd. Freecor and Bude own 41,29% and 13,34% of Zimnat Lion, respectively. Its current constitution is a result of its merger with Lion Insurance Company Limited in January 1999, with TA as the major shareholder. In 2001 it was successfully listed onto the ZSE, as Zimnat Lion Insurance Company Limited. Zimnat Lion went on to be delisted on the 29th of July 2009 after TA successfully bought out all minority shareholders through a share swap.
Zimnat Lion is a leading financial service organisation providing a diversified range of short term insurance products and services for individuals and corporations. The principal business of Zimnat Lion is underwriting short term insurance policies. The company’s activities cover the construction, motor industry, farming and domestic sectors. The company accepts insurable risks within its product portfolio from clients, and using established techniques spreads the risks and pays for economic loss sustained when a loss materialises. In order to reduce the potential exposure to any risk, Zimnat Lion in turn insures with reinsurers and in the event of a claim, the reinsurers participate in the claim in the same proportion they received premiums.
Zimnat Lion offers the following short term insurance products:
Bonds and guarantees and
Risk management and alternative risk financing.
Zimnat Lion operates from four branches located countrywide.
Zimnat Lion’s board of directors and senior management are as follows:
Nyajeka, Bothwell - Non-Executive Chairman
Sachak, Mustafa - Group Chief Executive
Gapara, Victor - Non-Executive Director
Mutambwa, Priscilla - Non-Executive Director
Chagonda, Innocent - Non-Executive Director
Patel, Sanjey - Non-Executive Director
Thorn, Cecil B - Non-Executive Director
S Mazorodze - Managing Director
S Naik - Non - Executive Director
Zimnat Lion Insurance Company Limited
P. Box CY 1155
Corner Nelson Mandela Avenue / Third Street
+263 (04) 701176 or 707581-6
Toll Free: 08004241
Fax numbers +263 (04) 793441
Web Page http://www.zimnatlion.co.zw