Zimnat

What Zimnat does

Zimnat Insurance Group is a privately held, diversified financial services group headquartered in Harare, Zimbabwe, founded in 1946 (originally as the Insurance Company of Rhodesia). The group is majority owned by Masawara Holdings Mauritius Limited (60% across General Insurance, Life Assurance, and Asset Management, plus 100% of Microfinance), with Raindere Investments holding a 40% minority following a November 2025 transaction that replaced SanlamAllianz Africa at the Masawara level. Zimnat operates four core business units: General Insurance (motor, home, travel, personal accident, specialist lines including agricultural, construction, engineering, marine, D&O and fidelity guarantee), Life Assurance (funeral plans including micro Chema/US$1 tier through InnBucks and Mukuru, Security Plan, Tsapi Personal Pension Plan, annuities, and group corporate products), Microfinance (payroll-based personal loans, working capital loans, order financing, and the new April 2025 invoice discounting facility), and Asset Management (unit trusts — Prosperity, Blue Chip, General Equity, Stable Income — plus private wealth and institutional fund management, ranked 2nd best performing over 3 years).

The business model is built on recurring premium and fee income across retail, SME, corporate, and institutional customer segments, augmented by transaction-based interest income from microfinance. Pricing is quote-based for most insurance lines with publicly disclosed starting points such as Chema at US$1/month for US$1,000 cover and MyBusiness Protector SME at US$50/month. Distribution combines direct branch sales (8 locations across Harare, Mutare, Bulawayo, Masvingo, Kwekwe, Victoria Falls), bancassurance (First Capital Bank, Stanbic Bank), mobile-wallet partnerships (InnBucks, Mukuru), embedded retail (Gain Cash and Carry / National Foods), and a proprietary SelfCare digital portal plus WhatsApp renewal channel. Zimnat General Insurance carries a GCR AA+(ZW) Financial Strength Rating (3rd consecutive year through July 2026) and Zimnat Life Assurance is rated A-, placing the group among Zimbabwe's most established and credit-rated financial institutions with a stated $92 million asset base.

The technology stack centers on the SelfCare portal enabling online quoting and policy self-management, with a Game Centre gamification platform supporting financial literacy. Operations are constrained to a single country (Zimbabwe), making the company a domestic-focused financial group whose growth depends on product diversification, new channel build-out (especially mobile and embedded retail), and continued regulatory strength rather than geographic expansion.

Name

Zimnat

Legal name

Zimnat Insurance Group

Website

https://zimnat.co.zw

Company type

Private

Founded year

1946

Operating status

Operating

Headcount range

51–100 employees

Short description

Zimnat is a privately held Zimbabwean financial services group founded in 1946, offering general insurance, life assurance, microfinance, and asset management to retail consumers, SMEs, corporates, and institutional investors through 8 branches and multiple digital and partner channels.

Ownership category

akta.pro rank

Headquarters

HQ city

Harare

HQ country

Zimbabwe

HQ region

Africa

Offices9 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. General/Short-Term Insurance Premiums: Collection of insurance premiums from personal motor, home, travel, commercial, agricultural, construction, engineering, marine, and specialty insurance products. Premiums are paid on monthly, quarterly, half-yearly, or annual bases.
2. Life Assurance and Funeral Cover Premiums: Recurring premiums from life insurance, funeral cash plans (Gadziriro, Sarudzo, Chema), security plans, group life, mortgage protection, credit life, pension plans, and annuity products.
3. Microfinance Interest and Fees: Interest income from payroll-based personal loans, working capital loans, order financing, and invoice discounting facilities extended to individuals and SMEs.
4. Asset Management and Unit Trust Fees: Management fees, advisory fees, and performance-related income from managing unit trusts (Prosperity Fund, Blue Chip Fund, General Equity Fund, Stable Income Fund) and discretionary investment portfolios for pension funds, corporates, and individuals.

Pricing tiers

Go-to-market motion3 records

Distribution channels9 records

Marketing channels10 records

Core offering

Zimnat is a diversified financial services group operating through four subsidiaries: Zimnat General Insurance (motor, home, travel, commercial, agricultural, and specialist insurance), Zimnat Life Assurance (funeral plans, life cover, pension plans, annuities, and group corporate products), Zimnat Microfinance (payroll-based personal loans, working capital loans, invoice discounting, and order financing for SMEs), and Zimnat Asset Management (unit trusts, private wealth management, and discretionary fund management for institutions). All products are distributed through physical branches across Zimbabwe, a digital SelfCare portal, bancassurance partnerships, and mobile wallet channels.

Product overview

Zimnat is a diversified financial services group operating as a platform-plus-modules architecture across four business units: General Insurance, Life Assurance, Asset Management, and Microfinance. The General Insurance unit offers motor insurance (Personal Motor, Fleet Motor, Vehicle Repair Relief Cover), home insurance (Household, Homeowners, Domestic All-in-one), travel insurance, personal accident, emergency evacuation cover, and specialist insurance (construction, agricultural, engineering, marine, Directors & Officers, Fidelity Guarantee). The Life Assurance unit provides funeral plans (Gadziriro/Lungiselelo, Sarudzo/Ukhetho, Chema/Inyembezi, Stockfeed), life cover (Security Plan), pension plans (Tsapi/Isiphala Personal Pension), annuities, and corporate products (Group Life, Mortgage Protection, Credit Life, Pension Plans). The Asset Management unit offers unit trusts (Prosperity Fund, General Equity Fund, Blue Chip Fund, Stable Income Fund), Private Wealth Management, and Fund Management for institutions. The Microfinance unit provides personal loans, working capital loans, invoice discounting, and order financing for individuals and SMEs. The units share a common SelfCare digital platform for customer self-service.

Differentiator

Problem solved

Functional benefit

Brands

• Zimnat SelfCare: Online self-service portal allowing customers to select products, get quotes, manage policies, and access services digitally.
• MyBusiness Protector Cover
• Gadziriro/Lungiselelo
• Sarudzo/Ukhetho
• Chema/Inyembezi
• Tsapi/Isiphala Personal Pension Plan
• Zimnat Prosperity Fund
• Zimnat Blue Chip Fund
• Zimnat General Equity Fund
• Zimnat Stable Income Fund

Products and services

• Personal Motor Insurance Cover Comprehensive motor car insurance covering accidental damage and third-party liability for individual vehicle owners in Zimbabwe.
• Fleet Motor Insurance Comprehensive coverage for company vehicles including accidental damage, fire, theft, intentional damage, and third-party liability, with additional benefits including roadside assistance and funeral cash assistance.
• Vehicle Repair Relief Cover Supplementary motor vehicle insurance providing daily cash benefit during vehicle repairs following an accident. Available in Standard (USD 50/day, max USD 700/year) and Premium (USD 100/day, max USD 1,400/year) tiers.
• Travel Insurance Group travel insurance providing coverage for illness, injury, theft, flight cancellations, emergency medical expenses, personal accidents, loss of baggage, and death outside the resident country.
• Home Insurance (Domestic Insurance) Comprehensive coverage including Household cover for contents and Homeowners cover for residential buildings, available as separate policies or combined All-in-one Domestic cover.
• Personal Accident Insurance Insurance protecting individuals and families against cost of accidents, providing lump sum benefit for listed injuries and Hospital Cash plan for hospitalization.
• Zimnat Emergency Evacuation Cover Emergency medical evacuation coverage providing 24/7 emergency assistance, rapid medical transport, and financial protection for emergency evacuations in Zimbabwe.
• Full Third Party, Fire and Theft Insurance Insurance covering vehicle theft, fire damage, and third-party liability for business vehicles.
• Third Party Insurance Minimum mandatory vehicle insurance covering bodily injury, death, and property damage to third parties.
• MyBusiness Protector Cover Stand-alone SME insurance product on first-loss basis covering fire, theft, goods in transit, public liability, and employers' liability with annual premium of USD 600 or USD 50/month.
• Construction Insurance Comprehensive coverage for construction projects including damage to property and third-party liability.
• Public Liability Insurance Protection for businesses against claims of personal injury or property damage from third parties arising from business activities.
• Commercial Insurance Commercial Property Insurance covering buildings and contents against fire, lightning, explosion, earthquake, storm, water, flood, and theft, plus Electronic Equipment Insurance.
• Umbrella Liability Cover Additional limits of liability beyond underlying motor and general insurance policies, tailored for large and medium-sized companies based on fleet size and industry.
• Group Personal Accident Insurance

Quantifiable outcome

• AA+(ZW) GCR financial strength rating for General Insurance, 3rd consecutive year through 2026.
• +2 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eleven partnerships are on record, tiered core, significant and minor.

• First Capital Bank ZimbabwecoreChannel Partner/ Reseller/ DistributorBancassurance partnership bringing Zimnat insurance solutions to First Capital Bank customers through bank branches, creating a one-stop shop for financial services.
• Stanbic Bank ZimbabwecoreChannel Partner/ Reseller/ DistributorBancassurance partnership providing Zimnat insurance products to Stanbic Bank customers via branch distribution.
• InnBuckssignificantChannel Partner/ Reseller/ DistributorMobile wallet partnership for distribution of Chema/Inyembezi micro funeral cover. Customers can purchase cover and receive instant USD payouts via the InnBucks app.
• MukurusignificantChannel Partner/ Reseller/ DistributorMobile wallet partnership for distribution of Chema/Inyembezi micro funeral cover via Mukuru Wallet, targeting underserved Zimbabwean customers.
• National Foods / Gain Cash and CarrysignificantChannel Partner/ Reseller/ DistributorRetail partnership for the Stockfeed Funeral Cover, embedded in National Foods Stockfeed purchases at Gain Cash and Carry stores. Poultry farmers purchasing stockfeed can add micro funeral cover at point of sale.
• THI Insurance (acquired by Zimnat General Insurance)coreStrategic or Co-development PartnerZimnat General Insurance acquired THI Insurance in 2020. Prior to acquisition, the two companies operated an underwriting agreement. THI Insurance specialises in agricultural insurance including crop, tobacco hail, farm equipment, and livestock insurance.
• Sanlam Private WealthsignificantStrategic or Co-development PartnerJoint venture to launch Zimnat Wealth International in April 2022, combining Sanlam Private Wealth's expertise with Zimnat's local market knowledge to serve high net worth individuals.
• MultiChoice ZimbabweminorGTM or Marketing PartnerPartnership to offer insurance products and services to MultiChoice/DStv Zimbabwe customers, leveraging the broadcaster's subscriber base for marketing reach.
• Road AngelsminorGTM or Marketing PartnerPartnership with Road Angels to provide breakdown cover and roadside assistance as an add-on to Zimnat motor insurance policies, enhancing the motor product value proposition.
• Gateway Stream / Telone MarketplaceminorChannel Partner/ Reseller/ DistributorMobile platform distribution for motor insurance cover, enabling customers to sign up through digital marketplace channels.
• Nisha TsminorGTM or Marketing PartnerCSR and community engagement partnership with Zimbabwean creative/artist Nisha Ts for mentorship visits to Harare Children's Home, reinforcing Zimnat's 'empowering prosperity' brand purpose.

Scale indicators12 records

Recent moves12 records

Expansion highlights6 records

Market position

Weaknesses4 records

Competitive moat5 records

Customer concentration

• YouTubeyoutube.com/@zimnatofficial5383
• Facebookfacebook.com/Zimnat
• LinkedInzw.linkedin.com/company/zimnat
• Xx.com/zimnatofficial

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Zimnat