ZimRe Profit Up, Eyes Regional Expansion

Rutendo Mazhindu

ZimNow Reporter

ZimRe Holdings Limited (ZHL) recorded strong financial results for the first quarter ending 31 March 2025, with profit rising sharply from USD0.56 million to USD1.69 million. This represents a solid increase of USD1.13 million, showing strong business performance across its clusters.

Insurance contract revenue grew from USD13.03 million to USD15.82 million, reflecting an increase of USD2.79 million.

The Group’s total income rose from USD16.87 million to USD20.96 million, marking a growth of USD4.09 million. ZHL said the improvement was due to increased insurance business, new markets, and positive investment income.

“We are pleased with the strong start to the year,” said ZHL Group Company Secretary, Ruvimbo Chidora.

“All business units made positive contributions, and this performance gives us confidence in our growth plans.”

The reinsurance cluster remained the biggest contributor to insurance revenue, accounting for 73%, followed by the Life and Pensions cluster at 22%, and the Short-Term Insurance cluster at 5%.

The Property cluster recorded an increase in rental income, supported by higher demand for retail and office space. Occupancy levels were reported at 86%, and the portfolio yielded an average return of 7%.

The Insurance Broking unit also saw improved results, driven by new business and better client retention.

The Life and Pensions cluster grew through new product offerings and continued focus on individual life policies, which contributed 79% of the cluster’s revenue.

ZHL's total assets increased from USD208.08 million to USD223.04 million — a rise of USD14.96 million . while total equity stood at USD65.93 million.

The Group also recorded a positive cash flow from operations, reflecting strong financial health.

ZHL recently launched the Eagle Real Estate Investment Trust (REIT), which was listed on the Victoria Falls Stock Exchange on 16 May 2025.

The REIT aims to support urban growth using modern technology and investment tools.

ZHL is also raising capital for Emeritus International, targeting regional growth as African insurance regulations shift toward promoting local capacity. This move is expected to strengthen the Group’s presence in new African markets.

“Our focus is on sustainable growth. We are working to expand our footprint across the continent and deliver long-term value to our shareholders,” said Chidora.

The Group said it will continue to use data and digital tools to drive business efficiencies, reach new clients, and build a stronger and more competitive ZHL brand across the region.