BY NATHAN GUMA
NEW data from the Insurance and Pensions Commission (IPEC) shows an increase in insurance brokers’ gross premium written, reflecting stronger business activity compared to the same period last year.
Gross Premium Written (GPW) is the total amount of insurance premiums that brokers record during a specific period before any deductions such as reinsurance costs, commissions, or cancellations.
For the period ended 30 June 2025, insurance brokers reported gross premium written amounting to ZWG2.45 billion (US$92 million) and a net brokerage commission of ZWG323 million (US$12 million).
This represents an 11% increase in gross premium written and a 7% increase in net brokerage commission compared to the same period in 2024.
Net brokerage commission is the actual income that insurance brokers earn after deducting any related expenses or adjustments from the total commissions they receive for placing insurance business.
The data also shows an increase in profit after tax, with insurance brokers reporting ZWG110.8 million (US$4 million) for the period under review, representing a 9% rise from the comparative period ending 30 June 2024.
Insurance brokers also recorded total assets amounting to ZWG604.8 million (US$22.45 million), reflecting a 23% increase from the US$18 million reported as at 31 December 2024.
The majority of these assets were held in cash and cash equivalents, as well as land and buildings, accounting for 33% and 19% respectively.
During the period under review, HRIB, Minerva Risk Solutions and Bright Insurance Brokers were market leaders in terms of gross premiums written, while Minerva Risk Solutions, HRIB and Firstlink Insurance Brokers led in terms of net brokerage commission.
The companies were also leaders in foreign currency-denominated business, with Minerva Risk Solutions, HRIB and Firstlink Insurance Brokers maintaining dominance in net brokerage commission. – IOW Business.
