Old Mutual prepares to shake up banking sector with new bank
South Africa’s second-largest insurer is set to launch a bank that will focus on capturing the mass market segment.
Industry News
Public warned against doing investment business with these entities
The unlawful impersonation of authorised FSPs to convince the public to part with their money is increasing.
Sam Bankman-Fried gets 25 years’ imprisonment for FTX fraud
The judge criticised Bankman-Fried for his lack of remorse and stated that he knew his actions were criminal.
Rise in life policy uptake despite economic pressures
Lapses and surrenders fell slightly in 2023, while consumers purchased more risk and savings policies than they did in 2022.
Entities that don’t take clients’ data security seriously are playing with fire
Dis-Chem is in the clear. TransUnion was issued with an Enforcement Notice, and the Information Regulator is investigating the data breach at the CIPC.
Jooste’s death won’t affect Steinhoff investigation
A former Steinhoff executive appeared in the Specialised Commercial Crimes Court on Friday charged with fraud and racketeering.
NHI will ‘definitely’ be funded once the Bill becomes law – Godongwana
National Treasury will work with the Department of Health on the funding scenarios outlined in the 2017 White Paper.
Interest rate cuts only likely in the third quarter of this year
The drier El Niño weather pattern is emerging as one of the biggest risks to the outlook for food inflation.
SA’s financial literacy challenge: navigating debt, unemployment, and education
The ASISA Foundation strives to empower individuals and communities to navigate financial complexities and make informed decisions.
The global investment landscape four years after Covid
The long, painfully slow post-bubble recovery of the Japanese market forces us to ask whether there is a similar risk to the euphoria over AI.
Unpaid commission: High Court rejects FSP’s set-off defence
The insurance marketer was an independent contractor – no mutual indebtedness existed between him and TWK Agri.
An insurer is not a supplier under the Consumer Protection Act
When seeking compensation from an insurer because of alleged third-party negligence, the best course of action is to pursue the matter in court, the National Consumer Tribunal says.
High Court upholds joint liquidators’ role in MTI winding-up
The High Court ordered the applicants to pay punitive costs, saying their allegations were spurious and damaged the joint liquidators’ reputations.
Swix indices on the way out as JSE simplifies benchmarks
From this month, the ‘vanilla’ indices will adopt the same methodology and therefore have the same weightings as the Swix indices.
New initiative aims to ease home insurance challenges amid climate risks
A pioneering approach that integrates climate data with claims data is set to transform insurance risk management in South Africa.
Welcome news for companies in business rescue
SARS’s discretion to write off temporarily an amount of tax debt while a company is subject to business rescue will be reviewed.
Social media firestorm: what went wrong and how Old Mutual is responding
Old Mutual provides context to the Molefi complaint, and how the group is planning to address the alleged non-payment.
