ZimRe Holdings hopes to raise 10 million USD

ZimRe Holdings Limited (ZHL) is planning a share issue worth 10 million USD by the end of the year. This call for funding through market will enable the group to raise cash in order to strengthen the underwriting capacity of its reinsurance activity. ZHL has announced, however, that all its subsidiaries are adequately capitalized and currently meet the solvability criteria. A cash contribution is required to pay claims and stand up to competitors.