Diversified insurance group, Zimre Holdings, is looking at leveraging its regional operations and service delivery as one of its strategies for post COVID-19 recovery.
The pandemic has caused turmoil as a result of disruptions to production and trade due to lockdowns as countries closed their borders to limit the spread of the disease.
“The impact of the COVID-19 pandemic on group performance is expected to be mild given the different responses to contain the disease and stimulate economic recovery in each country where the group has operations,” said the company in a trading update for the first quarter of the current financial year.
For Zimre Holdings, its financial strength and regional operations are expected to work to its advantage, reported The Herald. The group has operations in Mozambique, Botswana, Malawi and Zambia which should help offset the effects of COVID-19.
All the strategic group business units traded positively in the first quarter with comprehensive income closing the period at $72m representing a growth of 453% year on year. Zimre Holdings will also focus on cost management accompanied by revenue enhancement measures, to ensure moderate profitability is achieved in 2020.
Source MEIR
