Alexandra Forbes rebrands

Alexander Forbes Zimbabwe has rebranded to Willis Faber Dumas and Roland (WFDR) Risk Services (Pvt) Ltd and is eyeing a 25% market share by the end of 2016.

WFDR general manager Mapiye Chigorondondo said on Wednesday that the top three insurance brokers have a combined market share of 40%, presenting an opportunity for other players to increase market share.

ZB Holdings pulled its 40% shareholding from the company amid its desire to divest from non-banking units.

Local investment vehicle Asimba Private Equity Partners acquired the disposed ZB Financial Holdings shares to become the majority shareholders in the company.