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Tinashe Makichi Business Reporter —
The Insurance and Pension Commission head Marnet Mpofu is set to leave the commission following the expiry of her contract in January this year.

Mr Tendai Karonga, a seasoned insurance expert is tipped to take over the position of new commissioner. Mr Karonga has vast experience in the insurance industry after having worked for Zimnat and FBC Holdings insurance arm, Eagle Insurance.

“Mrs Mpofu has left the commission following the expiry of her contract yesterday (January 31, 2016) and she will be around up until the new Commissioner Mr Karonga takes the reins.

“Mr Karonga is one of the experienced brains in the insurance industry and he is expected to take over soon,” said a source at the Commission who requested anonymity.

Efforts to get a comment from the IPEC board chairperson Lynn Mukonoweshuro were fruitless by the time of going to print as she was occupied with board engagements.

IPEC is the commission governing insurance and pensions in Zimbabwe. It is a non-profit making organisation and stakeholders include insurance and pension funds, members of the public, board and commissioners, management and its staff.

The commission’s role includes registering, regulating and monitoring insurance industry players, monitor and ensure compliance to set standards, providing information to the public, encouraging and promoting investment in the insurance sector.

Government in 2015 appointed a six-member Pensions and Insurance Commission Board chaired by ex-AfrAsia chief executive Mukonoweshuro.

Other members of the IPEC board include Mr George Mazhude, who is board vice chairperson, Finance and Economic Development secretary Willard Manungo, Anna Mashingaidze, Abedinico Ncube and Mr Tafadzwanashe Zinyoro.