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Managing Director

Ruth is the Managing Director for First Mutual Life Assurance Company.

Ruth joined the First Mutual group in 2002 as its Corporate Affairs Executive responsible for marketing and communication strategy. In 2009, Ruth was seconded to First Mutual Life to craft and implement turnaround strategies for the company and was subsequently elevated to the Managing Director position in September 2009.

Ruth Ncube holds an MBA degree with Nottingham Trent University, UK. A graduate with the Institute of Marketing Management (RSA), a member of the Chartered Institute of Marketing (UK) and holds several diplomas in sales and marketing United Kingdom.

With over 20 years leadership experience in various economic sectors notably retail, hospitality, banking and insurance, Ruth has overseen the continued growth of First Mutual Life Assurance Company post dollarization. She has particularly transformed the company’s value offering having overseen the introduction of new products and strategic partnerships that have changed the insurance landscape in Zimbabwe.

In recognition of her contribution to the regional and local insurance sector, Ruth was appointed to the African Insurance Organisation (AIO) – Micro Insurance Committee in 2013. She is also the current Chairperson of the Life Offices Association (LOA) as well as the chair of the Insurance Institute Zimbabwe (IIZ) – Marketing and PR committee.

Ruth seats on the Board of Directors for First Mutual Life, Pearl Properties and First Mutual Health Care Company. An avid marketer and turnaround specialist, Ruth is the past president of the Marketers Association Zimbabwe and seats on Zimbabwe International Trade Fair board.

In affirmation of Ruth’s business acumen and achievements, the Zimbabwe National Chamber of Commerce (ZNCC) accorded her the Businesswoman of the Year Award for the year 2013

MBA (UK), IMM (RSA), Dip in Management (UK),
Dip in Sales & Marketing London.



National Sales & Distribution Executive

Nkosikhona Ndlovu has more than 10 years experience in Senior management specializing in brand management, business strategy formulation, customer relationship management, business development, change management and marketing strategy. His experience encompasses the manufacturing and service industries. He completed a three year postgraduate management traineeship with Astra Holdings Limited specializing in business strategy formulation and implementation. He has held several senior management positions including Chief Marketing Officer (Merlin Limited), Branch Manager (ZB Life Insurance Bulawayo) and Managing Director (Dreyton Textiles).

EMBA, Msc Banking and Financial Services(NUST), BBS (Hons) ( UZ), IMM(RSA).



Chief Finance Officer

Peddy joined First Mutual Life Assurance Company (Private) Limited from Pearl Properties (2006) Limited on 1 April 2014. He leads the business financial strategy including financial reporting, financial control and the optimisation of balance sheet structure and financial regulatory compliance. Previously, he was with PriceWaterhouseCoopers Chartered Accountants (PwC) Southern Africa, Johannesburg, South Africa, having been part of the project and infrastructure finance team focusing on the sub Saharan opportunities. At PWC, his mandate included initiating and leading property finance structures aimed at mobilizing tailored funding to finance property refurbishments, developments and expansion activities.

Bachelor of Business Studies (UZ), Bachelor of Accounting Sciences (UNISA), CA (Z)



Individual Life Business Administration Executive

Madalene joined First Mutual Life in 1994 as a New Business Administrator and rose through the ranks  as Underwriter’s Assistant, Trainee Underwriter, Underwriter, Assistant Manager Underwriting up to an Underwriting Manager.

Her experience in life administration business spans over 25 years. She is the chairperson of the Life Underwriters Association of Zimbabwe, facilitating the enhancement of technical skills for the upcoming Life underwriters in the Industry and promoting communication amongst underwriters and claims assessors in the Industry. She is an examiner of the Insurance Institute of Zimbabwe (IIZ).

Madalene is a Chartered Insurer and qualified as an Associate (AIISA) and a Fellow of the Insurance Institute of South Africa (FIISA).