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International

Zimbabwe's economic crisis hits insurance sector hard

August 28, 2015 Reprints

Zimbabwe's accelerating economic crisis is affecting the country's insurance sector, The Financial Gazette reported.

The economic decline has resulted in a decrease in disposable incomes, which in turn is pressuring the growth of the insurance sector. "Clients' ability to fund insurance premiums has been undermined by the general state of the economy, resulting in policy cancellations and reversals," said Albert Nduna, chairman of NicozDiamond Insurance Ltd.

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Zimbabwe's economic crisis hits insurance sector hard

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