Weather and power surge claims hit Santam’s underwriting profits
Loadshedding, inflation, and high interest rates are squeezing consumers’ finances.
Industry News
The two banks with the biggest increase in complaints in 2022
Complaints about current accounts and digital banking were the two largest categories of cases opened with the ombudsman.
Thursday briefing: a round-up of recent financial news
Real incomes down 4pp | Push to sanction non-disclosure of beneficial ownership | Cell captive plan for expensive medical treatment
Sasria’s chief executive addresses grid-collapse exclusion
It will decide by the end of the month whether to reintroduce the exclusion.
Liberty: cancer displaces Covid as leading cause of claims
Statistics indicate a rise in income protection claims resulting from diagnoses for mental and behavioural disorders.
Brokers, clients looking for contract certainty with grid-collapse exclusions
SAIA is concerned about consumers’ perceptions of the insurance industry as covers are removed but premiums increase.
Sell in May and go away?
An analysis of whether the trading strategy of selling in May and buying back later in the year succeeds.
Update: Sasria U-turn on cover for damages related to electricity grid collapse
Companies should consider drawing up disaster management plans.
Monday briefing: a round-up of recent financial news
Busa lobbies for medical schemes under NHI | Few equity funds beat Alsi | High-targeting absolute return funds underperform | RAF to approach ConCourt over Discovery ruling | ‘Windfall tax’ from loadshedding | Alexforbes acquires stake in TSA
The adviser’s role in helping to create a lasting financial legacy
In tough times, it is important to think of your family’s future, and nothing says ‘prepared’ better than drafting your will timeously, planning your estate and leaving a proper wealth succession plan. 1Life launches its latest estate planning product offering.
SA at risk of becoming a failed state if the economy isn’t turned around soon’
Incoming Nedbank chairperson says ‘we are already on borrowed time’.
Big increase in damage to appliances and food spoilage because of blackouts
Loadshedding is having a more severe impact on consumers compared to a year ago, survey finds.
Santam introduces power surge excesses and exclusions as claims jump
What policyholders should know about the general exclusion for damage caused by electricity grid failure or interruption.
RAF wants to take its case against Discovery to the Constitutional Court
The fund has not resumed paying the past medical expenses of scheme members injured in motor vehicle accidents.
What retirement funds pay their board members and principal officers
PwC survey finds that 74% of funds are now paying some or all their board members, up from 47% in 2020.
Discovery files for leave to appeal R25m incapacity pay-out order
The judgment could have far-reaching implications for the life insurance industry, it says.
PSG Konsult grows assets under management by 13% as others struggle
The group also intends to maintain its high dividend pay-out ratio.
