Members of Discovery Health Medical Scheme (DHMS) will be able to elect to have their health plan administered in accordance with Shari’ah principles from 1 June. It said South Africa’s first Shari’ah-compliant medical […]
BNP Paribas says the pressures on core inflation are building, which could force the South African Reserve Bank (Sarb) to step up the pace of repo rate hikes from next month. Meanwhile, Anchor […]
PPS Life Insurance paid Covid-19-related claims of R1.4 billion in 2021, which was 36% higher than in 2020, when claims were 45% up from 2019, the mutual insurer said in its annual report […]
The South African Insurance Association (SAIA) says the damage to infrastructure in KwaZulu-Natal as a result of the floods already exceeds R1.1 billion, which was the estimated cost of damage after the flash […]
The Municipal Employees Pension Fund (MEPF) and its administrator, Akani, have won another court case – this time in the Supreme Court of Appeal (SCA) – that upheld the retrospective application of an […]
Ninety One displaced Old Mutual Investment Group (OMIG) as South Africa’s biggest asset manager last year, with total assets under management (AUM) of R690.6 billion on behalf of South African clients at 30 […]
PSG Konsult’s recurring headline earnings rose 31% to R920.6 million in the year to the end of February 2022, as the financial services group continued its growth trajectory. Recurring headline earnings have grown […]
Old Mutual Insure has followed South Africa’s largest short-term insurer, Santam, in excluding certain types of non-physical damage from its business interruption cover, because it can no longer reinsure these events. Read: Santam […]
Some 60% of South Africans report having an insurance product, and insurance penetration, measured using premiums as a percentage of GDP, was 13.7% in 2020 – one of the highest in the world, […]
The number of retirement funds applying for liquidation increased by 21.5% between 2019 and 2020 because of financial distress as members’ contributions fell when employers cut salaries or laid-off staff and businesses closed […]
The South African Revenue Service (Sars) has searched the homes of employees in the gold and banking sectors as part of its investigations and audits into illicit financial flows and illicit trade in […]
The South African Special Risk Insurance Association (Sasria) has appointed Mpumelelo “Mpumi” Tyikwe as its new chief executive, effective 7 April. Outgoing incumbent Cedric Masondo, whose term ends in May, is set to […]
The FSCA says it will continue to ensure that insurers adopt “a fair and balanced approach” towards premium increases, while taking into account the valuable role the insurance industry has played in difficult […]
Telkom has succeeded in “freezing” a pension pay-out to a former employee it is suing for over R200 million. In a civil trial, Telkom alleges Andrew Johannes Jacobs sold information to its competitors. […]
The Gauteng High Court has lifted the curatorship of KeyHealth Medical Scheme, and the board of trustees was authorised to manage the scheme from 5 April. Council for Medical Schemes (CMS) chief executive […]
National Treasury’s Asset and Liability Management Division officially launched its Top Up Retail Bond on 1 April, offering investors a return of 8.75%, with interest compounded quarterly, over a minimum investment term of […]
For the second year in a row, passive manager Satrix Investments has won the award for Best Fund House: Larger Fund Range at the Morningstar Fund Awards South Africa for the risk-adjusted performance […]
