Archive | Industry News


Placing Constantia Insurance under curatorship was premature, says Conduit Capital

JSE-listed Conduit Capital Limited believes the Prudential Authority (PA) acted prematurely when it applied for Constantia Insurance Company Limited (CICL) to be placed under curatorship, saying it was in talks with investors about a possible capital injection. The Gauteng High Court placed CICL under provisional curatorship on 26 July after the PA brought an ex […]

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Global warming warnings: insurers must heed the KZN floods

The extensive flooding and landslides experienced on stretches of the KwaZulu-Natal coastline on 11 and 12 April should serve as a warning to the general population, and more pertinently, to South Africa’s non-life insurers and reinsurers that the country is no longer insulated from extreme weather catastrophes. In fact, all stakeholders in the insurance value […]

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Are we paying too much for group insurance?

In the desperate times of the cascading waves of Covid-19, South Africa’s life insurers, and especially group insurers of employee-based schemes, played a critical role in ensuring financial inclusivity by providing insurance cover to claimants. Group policies provided financial assistance to thousands of families who suffered the loss of their loved ones during the pandemic. […]

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Death claims during fourth Covid wave closer to pre-pandemic levels

Life insurers reported a significant drop in death claims for the six months to the end of March compared to previous six-month reporting periods since the start of the Covid-19 pandemic. South Africa experienced the fourth wave of Covid infections in December 2021, which peaked during the middle of that month. The Association for Savings […]

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Why do more South Africans feel better about their financial prospects?

According to a graph in this year’s Old Mutual Savings & Investment Monitor (OMSIM), 72% of respondents expect their financial prospects to improve over the next six months, whereas only 5% believe they will get worse. Old Mutual commented: “These results speak to the resilience of South Africans with a pervading optimism that things will […]

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Top causes of business insurance claims in South Africa

Fires or explosions generated the most expensive losses for South African businesses over the past five years, accounting for 65% of the value of all claims, according to a study by Allianz Global Corporate & Speciality (ACGS). Claims related to faulty workmanship or maintenance were the second-biggest cause of loss (20%) in South Africa. Natural […]

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