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| DATE OF CREATION: 2003, Zimbabwe |
| CLASS OF BUSINESS: Non life | |
| MAIN UNDERWRITING ZONE: Africa |
First Mutual Reinsurance: contact
| Address : First Mutual Park, 100 Borrowdale Road, Borrowdale, P.O. Box BW 178, Harare, Zimbabwe |
| Tel: +263 (242) 886000 - 17 |
| Email: info@firstmutual.co.zw |
| Website:www.firstmutual.co.zw |
First Mutual Reinsurance: rating
| Agency | Rating | Outlook |
| GCR | BBB+ (zw) | Stable |
First Mutual Reinsurance: main indicators
in thousands USD| 2021 | 2022 | |
| Turnover | 6 912 | 9 071 |
| Shareholder’s equity | 4 426 | 1 809 |
| Net result | 2 105 | 1 174 |
| ROE(1) | 47.56% | 64.90% |
(1) Net result/Shareholder’s equity
First Mutual Reinsurance: management
| Oliver Mtasa | Group chairman of the board |
| Bongai Muhau | Managing director, CEO |
| Mativenga Chihwenga | Financial director |
| Rangarirai Verenga | General manager, intenational business |
| Iris Ndumo | Heead of underwriting |
Exchange rate at 31/12/2021 : 1 ZWL = 0.00920 USD ; as at 31/12/2022 : 1 ZWL = 0.00149 USD
Sources: Insurance & Pensions Commission (IPEC) and First Mutual Re
Read also | Reinsurance in Sub-Saharan Africa
