ZIMRE Holdings (ZHL), the countryâ€™s largest re-insurer, has moved to revolve its business on the companyâ€™s asset column as opposed to the income statement as it is determined to act “big in order to stay big”.
The company has announced that it will diversify its investment portfolio to take advantage of various opportunities that present themselves in other sectors of the economy apart from the insurance and financial services.
The re-insurance company believes money and accumulation of assets only accentuates the cash-flow pattern running in a firmâ€™s books.
Group chief executive officer Albert Nduna said the group had embarked on a business portfolio restructuring and the implementation of a broad diversification strategy.
“The diversification of our investment portfolio is being done to take advantage of other sectors outside insurance and financial services,” said Nduna.
ZHL chief operating officer Solomon Tembo said the diversification would raise the group to another level as “size mattered in future”.
Tembo was diplomatic when talking about the procedures the re-insurance company would take, preferring to say: “When dealing, give limited information to entice someone, but not too much for them to start your plans before you”. In its interim results ending June 30, ZHL announced on Monday that the group recorded a gross premium of $78,6 quadrillion in historical terms, a growth of 8,6 million percent. â€” Staff Writer.