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Market Overview

First Mutual Life Assurance Company Private Limited (FML) is Zimbabwe’s second largest life assurance company.  It is a wholly owned subsidiary of First Mutual Holdings Limited (FMHL), one of the largest diversified non-banking financial services groups in Zimbabwe today with the National Social Security Authority (NSSA) as the anchor shareholder.  FML has more than 100 years’ experience in Employee Benefits, Life Assurance and associated administration experience.

First Mutual Life’s primary business activities are the provision of life assurance, retirement benefit products and other long term financial security products, and its products provides customers economic dignity and the support they need in being prepared for life’s obligations.  This is enabled through convenience of a one stop shop which offers various packages to suit different needs and budgets.  FML offers comprehensive product solutions, which include access to life insurance cover, complete objectivity in claims assessments, global protection and the flexibility to adapt one’s benefits according to their changing circumstances.  Some of its most renowned products include Group Pension Schemes, Group Life Assurance Schemes and the Preservation Fund.  In addition FML also has two funeral products namely the mobile based e-FML and the Funeral Cash Plan, the University Cover Plan, the Mortgage Protection Scheme, retirement plans and the Ultimate Life Plan, which helps pay towards a child’s education.    First Mutual Life’s competitive edge includes the following:

  • Wide distribution networks supported by branches and agents throughout the country
  • Excellent service delivery
  • Superior investment returns
  • Highly skilled personnel base
  • Innovative
  • ISO 9001:2008 Certified


The company sees opportunities in the future that will arise out of providing a consistently high level of service through improved technology and above average investment returns, as well as the replication of its successful model throughout the region. Several markets in the region are currently being examined and considered.

Competitive Advantages
First Mutual Life has significant advantages and strengths at its disposal, which include:

A strong distribution network
First Mutual Life has branches and agents throughout the country. The company currently employs salaried staff, who are complemented by tied agents and independent agents.

A good reputation with clients and regulators
The company’s life business has enjoyed a high reputation for quality service delivery and superior investments returns, which First Mutual Life is conscious of the need to maintain. First Mutual predecessor, the Society, had an exceptionally good and close relationship with industry regulators, a situation that has prevailed for many years and which First Mutual Life is committed to maintaining.

We offer unique and comprehensive product solutions

  • We allow you access to your life insurance cover in times of need
  • We guarantee objectivity when we assess claims
  • Your whole body system is covered
  • We offer global protection
  • Your benefits change according to how your needs change

Skilled and committed staff
First Mutual Life has a comprehensive program for the continuous development and up-skilling of its staff and agents. Incentives for relevant academic achievement are in place, along with sound human resources practices.

 High quality products and services
First Mutual Life boasts a highly skilled personnel base whose expertise has been instrumental to the culture of continuous innovation that has ensured a consistent provision of relevant and quality products designed to suit a changing market.

Platinum Plan

  • University Cover Plan
  • Funeral Cash Plan
  • Wealth Life Plan
  • Ultimate Life Plan
Employee benefits

  • Retirement Benefits
  • Preservation Fund

These are sufficiently diverse to ensure maximum choice and flexibility for customers.