UNIVERSITY OF ZIMBABWE

Industrial Attachment
Log Book

SURNAME : MUZAMBI
NAME(S) : KUDAKWASHE RAYMOND
REG NUMBER : R195461E
PROGRAMME : HASC
NAME OF ORGANISATION : MURERIWA ACTUARIAL
OUTSOURCING SERVICES (pvt) LTD

TRAINEE SIGNATURE:_________________ WORK SUPERVISOR’S SIGNATURE:___________________

Week Ending Task(s) Done
14/01/22  Introduction to Company
employees and departments
 Introduction to company
policy and regulations.
 Set up into server and
computer systems.
21/01/22  Reading key materials about
industry and company products,
Services and intrinsic operations.
28/01/22  Prepared summarized report of
Zimbabwe Stock exchange
performance.
 Advanced Excel exercises and
data manipulation programs and
tutorials
04/02/22  Perfomed Data checks for two
Pension funds.
11/02/22  Completed Revenue Account for
two pension funds.
TRAINEE SIGNATURE:_________________ WORK SUPERVISOR’S SIGNATURE:___________________
Lesson(s) Learnt
 Corporate structure and
administration.
 Navigating the company
server and systems.
 Obtaining detailed
information of
organization aims and
objectives.
 Industry averages and the
need for collecting such
information – to be able to
accurately comment about
the industry to the
company’s clients
 How the company handles
various products and their
individual value to the
company
 How important stork
performance is and it
relevance to insurance
companies.
 How excel functions get
work done conveniently and
in the shortest frame of
time.
 Learnt that Data is not
always accurate and can
sometimes contain
inconsistencies which will
need to be revised and
corrected.
 Data manipulation and
presentation.
 Learnt how funds before
and after 2019 are to be split
between 2 accounts and

18/02/22  Filling folders and assigning
proper names to documents.
 Introduction to company
clientale and products offered to
each.
25/02/22  Studying IPEC circulars
published after 2019.
04/03/22  Summarized rules for 3 Pension
funds.
11/03/22  Carried out corporate valuations.
18/03/22  Distributed surplus of
investments to Policyholders
25/03/22  Calculation of Accrued Benefits
01/04/22  Performed peer reviews
TRAINEE SIGNATURE:_________________ WORK SUPERVISOR’S SIGNATURE:___________________
how declare returns onto
pension funds.
 Grasped the importance of
order and how convenient it
is to retrieve prior files
when they are needed.
 Understood the importance
professionalism and needs
of each client and how to
deliver service to them.
 Understanding the
regulatory requirements for
insurance companies in
Zimbabwe.
 Understanding the
limitations and struggles the
insurance industry faces and
the steps being taken to
overcome it.
 Grasped that Pension funds
are governed by various
rules that differ in flexibility
from the employer to the
employee.
 Grasped concept concerning
the monetary sufficiency of
an organization/fund.
 Reaalised how management
makes decisions from the
statistics analysed.
 Learnt that surplus is
distributed to various
stakeholders such as Group
Businesses,individual
businesses and
policyholders.
 Mastered how to
accumulate Interest and
bonus for health
benefits,death benefits and
pensions.
 Gained proficiency in
reviewing work done by

08/04/22  Insurance industry survey
15/04/22  Attended Zoom meeting about
ZICARP
 Completed ZICARP templates
for insurance companies
22/04/22  ZSE Market reseach
29/04/22  Valuation of short term insurers
06/05/22
 Calculation of Money Weighted
Rate of Return (MWRR) and
Linked Rate of Return (LRR)
TRAINEE SIGNATURE:_________________ WORK SUPERVISOR’S SIGNATURE:___________________
actuaries of other funds and
assign appropriate
comments were results
failed to tally or closely
align.
 Gained an understanding of
how to measure growth of
Insurance firms and how
they deliver proficient
services to clients.
 Mastered how to Analyse
trends using financial
statements of Insurers in
VBA.
 Intrinsic knowledge of
IPEC guidelines and its
regulatory role in the
insurance industry of
Zimbabwe.
 How the Company should
abide by standards
implemented for carrying
out its operations and
reporting to regulator.
 Learning about risk based
capital through ASZ zoom
meetings.
 Learnt to analyse trends
within the stockmarket and
how stockmarket changes
affect members’ pensions.
 Gained understanding in
how valuation of short term
insurers differs from long
term insurance.
 Grasped how to declare
solvency of a short term
insurer.
 Linked rates of return
provide a way of combining
rates of return for
successive sub-periods to
 obtain an approximate rate
of return over a longer
period. Linked Rates of
Return are calculated for
funds which have the month
on month fund values
provided.
 MWRR is commonly used
in calculations of returns
13/05/22  Zoom webinars about the  Data preparation
actuarial valuation cycle.  Asset preparation
 Valuation specifications
 Valuation run,summary and
final report presentation
20/05/22  Carried out a financial revew  Mastered how Examine
the financial condition of
the Fund
 Leaned how to calculate
the rate of return for a
fund.
27/05/22
03/06/22

TRAINEE SIGNATURE:_________________ WORK SUPERVISOR’S SIGNATURE:___________________

 Supervisor’s comment

TRAINEE SIGNATURE:_________________ WORK SUPERVISOR’S SIGNATURE:___________________