Inquiries into insolvent Classic Financial Services unearth assets
The administration process of the insolvent estate of Classic Financial Services has yielded ‘numerous assets’, providing a glimmer of hope for creditors.
Industry News
Health app introduces three firsts to the South African medical scheme industry
Discovery launches funded internet-based Cognitive Behavioural Therapy and telehealth services to address the alarming surge in depression.
Medical schemes that grew their membership by 5% or more in 2022
Preliminary data released by the Council for Medical Schemes highlights key trends in the industry last year.
Why business interruption insurance is a must in today’s turbulent world
Aon South Africa weighs in on why having BI insurance – and the services of a professional broker – is crucial for an organisation’s long-term survival.
Looming global confidence crisis: re-affirm your risk budget
Trends observed during four recent geopolitical events sheds light on how the Israel-Hamas War will impact economies, financial markets, and central banks.
Loadshedding takes centre stage in SA’s risk landscape
Loadshedding has surged to the forefront of insurance concerns, eclipsing traditional threats such as fire and theft, according to Santam’s 2023 Insurance Barometer.
Discovery versus RAF: more litigation looms
The Fund explains why it believes it is not in contempt of court.
Adjudicator questions compulsory membership of private security sector fund
The Pension Funds Adjudicator also says the conduct of retirement fund administrators during a transfer of administration should be regulated.
Top trends in the changing role of the modern insurance broker
Santam’s 2023 Insurance Barometer discloses how brokers are adapting and adding value through robust risk management strategies.
Life insurance industry stages a remarkable comeback
Life insurance companies have defied the odds, bouncing back with impressive results in 2022, KPMG’s South African Insurance Industry Survey 2023 finds.
FSCA reports an increase in enforcement action and debarments in 2022/23
The number of FSP licence approvals was the lowest in the past three years.
Medical scheme contribution increases largely surpass recommended 8% hike
The Council for Medical Schemes has withdrawn a directive for Discovery to retract its communication about contribution and benefit changes for 2024.
No major cuts to government expenditure in MTBPS, says Godongwana
National Treasury’s approach is ‘moderate’ spending cuts and a ‘sustainable’ increase in borrowing.
What customers are saying online about SA’s major insurers
One short-term insurer bucks the overall negative trend when it comes to the claims-handling process.
Unpacking the tax implications for investments
The South African Institute of Professional Accountants’ Ettiene Retief provides insights on how individual investors can make smart tax-informed decisions for their investment portfolios.
Sasria wants an explicit guarantee that the state will be its reinsurer of last resort
The reinsurance market will remain hard for the foreseeable future, and most reinsurers believe another July 2021 is just around the corner, says chief executive.
UPDATED: Withdraw 2024 contribution increase announcements, regulator instructs medical schemes
Discovery has lodged an appeal against a Council for Medical Schemes directive to retract communication to members about its 2024 contribution and benefit changes.
