User:ShapiroC/Zimnat Life Assurance.

'''Zimnat Life is one of the largest life assurance and financial services provider in Zimbabwe.

History
In 1946 Mr. Tom Preston founded the National Insurance Service in Bulawayo on behalf of the Rhodesia National Farmers Union and the business was placed with Lloyds through Minets.

The National Insurance Service was appointed Chief Agent of the National Farmers Union Mutual Society in 1950 and handled both general farm insurance and life assurance and a later date an Agency was formed for the Avon Insurance Company which handled non-farming business. In 1953 the National Insurance Service ceased to be an Agency and became a full branch of the NFUMIS and Avon.

1974 saw the withdrawal of the NFUMIS from the local market. The life portfolio was acquired by Old Mutual and the farming and general business merged with the Rhodesia National Insurance Company to become Rhodesia National Farmers and General Insurance Company (RHODNAT). In 1974 the Head Office moved to Bude House and in 1976 the company name was changed to Rhodnat.

Rhodnat acquired the Insurance Corporation of Rhodesia (ICR), a Life Company specializing in the emergent market in 1984. ICR started in 1959 in Harare in Robinson House i.e. Angwa Street and Union Avenue. In 1960 it joined Provident of Africa, which was closed that year. ICR took most of its furniture from Provident.

ICR opened an office in Bulawayo in 1964. In Harare, the company moved to Century House East, in Nelson Mandela and Angwa Street. In 1969, ICR joined the TA. Group. In 1976 it joined Rhodnat.

In March 1981, Rhodnat was once again changed to Zimnat. Zimnat became wholly owned by the TA Group, which had a 49% shareholding when they acquired the remaining 51% in 1981.

From the beginning of 1984, Zimnat took over the whole of Bude House premises and the name changed to Zimnat House on 1 December of that year.

Zimnat Life Assurance Company Limited (Zimnat Life) was established in 1959 as the Assurance Company of Rhodesia. The company incorporated in 1984 after TA Holdings decided to split the composite insurance licence of Zimnat Lion.

Zimnat is a 100% owned subsidiary of TA Holdings and sells life insurance products in Zimbabwe under the Zimnat Life brand. Zimnat Life later diversified into asset management by establishing a self-standing asset management firm Zimnat Asset Managers (ZAM) in 1999. Zimnat Life owns 49% of Sovereign Health Company Limited, a medical aid administrator with the balance being owned by Medscheme South Africa.

Operations
The Company's main activities are life insurance as well as long-term savings and fund management. Some of the products under the business include Life Assurance, Pensions, Mortgage/ Loan Protection, Funeral Plan and many more.

Companies

 * Zimnat Asset Management - Investments and long term savings