A thirty-fold increase in exports from $126.4 million to $3.8 billion in the first half of this year helped to boost Cafca’s net earnings from $326.9 million to $2.1 billion.
Clan Holdings, whose aim is to become the preferred transporter within the Southern African Development Community (SADC) region, received a new lease of life when its profit for the six months to June more than doubled that for the whole of last year and was more than eight times that for the similar period last year.
Reinsurance group, Zimre Holdings, had a good first half despite problems that bedeviled the country such as high levels of inflation, uncontrolled monetary growth, foreign exchange shortages, high unemployment and supply bottlenecks.
Short-Term insurance company NicozDiamond says the industry is now bedevilled by under insurance so policyholders will have to battle to keep track of the spiraling price increases.
TA Holdings, which has just completed its restructuring exercise to focus on business with high growth potential, high margins and currency hedging, saw its net profit soar by 861 percent in the first half of this year.
Zimnat Lion Insurance Company, another short term insurance firm, has decided to expand into the region to cushion itself against the present negative macro-economic environment, which it says is not expected to improve in the short term.