The Commission was appointed by former President Mugabe.  Its terms of reference of the Commission mandated the Commission to investigate the following issues among others:

·       To establish the total value, nature and type of assets owned by insurance companies and pension funds;

·       To determine the causes of loss of value of insurance and pension benefits;

·       To assess the conversion methods and processes of insurance and pension assets and liabilities to Unites States dollars;

·       To establish the extend of prejudice if any to policy holders and pensioners;

·       To recommend compensation where prejudice has been established and;

·       To examine instances of regulatory failures and finally;

·       To assess the soundness of the industry and the role of the insurance and pension sector in the economy.