211 J.

Tongogara St/9th Avenue

Harare, Zimbabwe

+263 242 746 435/357/394

actuaries@nextvantage.co.zw

www.nextvantage.co.zw

Savenda General Insurance

Plot 20849 Corporate Park
Alick Nkhatha Road
Mass Media P.O Box 30363
Lusaka
Zambia

3 March 2023

COMMENCEMENT OF IFRS17 IMPLEMENTATION PROJECT

Dear Sir/Madam,

Thank you for the opportunity to provide services to Savenda General Insurance Limited, “Savenda” on the
implementation of IFRS17.

Data requirements
We require the following data and documents covering the period 1 January 2017 to 31 December 2022, to
assist us in undertaking a gap analysis of the project:

1. A summary of the details of the benefit structures of the various products being sold by
Savenda General Insurance Limited, Zambia.
2. Sample policy documents for all products.
3. Claim details used in the actuarial valuation for the periods.
4. Financial statements for each financial year.
5. The statutory actuarial valuation reports of the business for the period.
6. A soft copy of the policies of the insurance business and business in-force for the review period.
7. Details of actuarial software in use (if any)
8. Details of integration between policy administrations, accounting and actuarial systems.
9. Details of chart of accounts in use.
10. Summary of accounting policies in use.

We would appreciate it if these could be provided to us as soon as possible.

Yours Faithfully,

Tawanda Chituku
Principal Actuary

Directors: T. Chituku (Managing), M Jubenkanda (Msc), *C. Mancuvenyi (*Non-Executive)