ZimRe Holdings Limited's profit after tax rose 15% to US$10.74 million in the six months to June 2026 as the insurer increased its business from regional markets under its “Great Africa Trek” expansion strategy.
The group's profit increased from US$9.33 million recorded in the comparable period last year, while total income rose 31% to US$67.47 million from US$51.59 million.
Insurance contract revenue increased 13% to US$45.60 million, with regional operations accounting for 49% of the revenue, up from 46% in the prior period.
ZimRe chairman Desmond Matete attributed the growth to expansion into local and external markets, new products and organic growth across the group's insurance, reinsurance and life and pensions businesses.
“The growth was on the back of continued expansion into local and external markets, innovative products and organic growth across the group’s insurance, reinsurance and life and pensions segments,” Matete said.
Reinsurance remained the group's largest contributor, accounting for 77% of insurance contract revenue, up from 73% in the prior period.
Zimbabwe contributed 27% of reinsurance revenue, while Malawi's contribution increased to 15% from 11% previously.
The group's stronger performance was also reflected in cash generation, with cash generated from operations increasing 18% to US$12.20 million from US$10.36 million.
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Total assets increased 8% to US$323.21 million from US$298.28 million at the end of December 2025, while total equity rose 8% to US$96.43 million.
Despite the improved earnings, the board did not declare an interim dividend, opting to retain capital to support the group's expansion and reinsurance capacity.
The company said the decision took into account profitability, distributable reserves, liquidity, capital adequacy requirements, economic conditions and the funding needs of its Great Africa Trek strategy.
“Capital mobilisation remains a key priority as the Group advances initiatives to strengthen the capital position and underwriting capacity of the reinsurance cluster,” the group said.
Matete said technology investment would also remain central to the expansion strategy.
“Technology is an important enabler of our strategy,” he said, adding that the investments were intended to simplify processes, contain costs and improve the speed and quality of decision-making.
The group said it would continue pursuing opportunities in selected African markets while improving underwriting quality, diversifying products and strengthening its regional footprint.
ZimRe also flagged climate-related risks, including droughts, floods and fires, as increasing pressures on insurance claims, asset values and community resilience.
The group said it was therefore strengthening its climate-risk advisory capabilities while exploring opportunities in resilient infrastructure and insurance solutions.
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