Former Momentum financial planner arrested for R4.7 million fraud
The financial services group is aware of another client who fell victim to the former employee’s alleged misconduct.
Industry News
Capitec’s funeral policy arrangement with Sanlam to end next year
Capitec Life will take over the administration of the in-force insurance book.
Black Friday: retailer payday or sales fizzle?
Shopping statistics reveal top trends in consumer purchases over the Black Friday weekend.
Alexforbes’s interim results show 13% surge in operating income despite challenging economic environment
Alexforbes CEO Dawie de Villiers pledges further investment in core strengths for scale and efficiency considering robust interim results.
Industry and organised labour respond to new proposed two-pot date
All stakeholders emphasise the need to finalise the amendments to the Income Tax Act and the Pension Funds Act.
Asisa’s chief executive leaves to ‘pursue other opportunities’
Busisa Jiya’s departure comes less than two years after his appointment.
Crypto market study reveals 10 common risks to investors
The FSCA says the study will bolster its grasp on crypto asset activities, enabling the Authority to fine-tune its oversight and licensing strategies.
Drive Trends Report identifies speeding as ‘worst driving behaviour’
Discovery Insure’s latest trends report reveals insights into driving behaviour, work commutes, and fuel efficiency.
SA investors more optimistic than global peers about their return prospects
Most investors believe we have entered a new era of policy and market behaviour and are adapting their strategies accordingly, Schroders research finds.
SIU recovers R317m in duplicate payments to lawyers from RAF
The Special Investigating Unit is also investigating millions more lost to corruption and maladministration at the Road Accident Fund.
Asisa statistics reveal the main source of insurance policy fraud
Sales fraud, where intermediaries write-up policies without clients’ knowledge to earn commission, constituted 57% of all fraud cases in 2022.
Average living annuity drawdown rate falls in 2022
Asisa says it is encouraging that the 2.5% to 5% drawdown rate made up the biggest income band by number of policies.
Insurance for individuals and SMMEs among the priorities for financial inclusion
The barriers to uptake include affordability, inappropriate distribution models, and lack of product knowledge, Treasury says.
Speculation over why National Council of Provinces postponed NHI Bill vote
There are hints the president may decide not to sign the legislation into law in its current form.
Demand for cyber insurance expected to surge as global cybercrime losses soar
Ryan van de Coolwijk, the head of cyber insurance at iTOO Special Risks, highlights the increasing adoption of cyber insurance among South African companies.
Discovery to engage with regulator following misleading advert ruling
Discovery Health Medical Scheme defends the term ‘comprehensive’, asserting its widespread and accepted usage throughout the medical schemes industry.
Another FSP targeted in an impersonation scam on social media
The FSCA says it is investigating various entities because of concerns that they may be offering unauthorised investments.
