Zimbabwe’s insurance regulator has suspended short-term insurance firm, Heritage, from issuing or renewing policies due to poor financial position.
The Insurance and Pension Commission said it will provide the market with updates on the companies under suspension as and when any notable developments are reported.
Heritage joins the likes of Excellence Insurance and KMFS Insurance that were recently barred from initiating and renewing business as a result of poor corporate governance and unethical conduct.
People knowledgeable about events at Heritage said the company was working around the clock to regain its licence ahead of the June 30, 2016 deadline it was given by Ipec to regularise its financial position.
TVC News
