PI policy: High Court rules against broker in Covid-related claim
The judge finds that a policy operating on a claims-made basis responded according to when the claim was made, not when the alleged negligence occurred.
Industry News
Applying excess retirement contributions: implications for lump sums, annuities, and estates
Allan Gray’s Carla Rossouw clarifies excess contributions in relation to deduction limits, annuity income taxation, and the treatment of benefits at death.
Appeal court leaves FAIS debarment ruling intact
The Full Bench finds that the information available to the FSP was sufficient to justify initiating the statutory debarment process.
Judge upholds decision over electronically signed will
The High Court refuses leave to appeal a ruling directing the Master to accept an electronically signed document as the will of the late Justice Yvonne Mokgoro.
High Court: Minister’s power to set VAT rate is unconstitutional
The declaration of invalidity was suspended for 24 months and referred to the Constitutional Court for confirmation.
Passenger who pulled handbrake held to be ‘driver’ for RAF claim
The High Court finds that seizing a vehicle’s controls can make a passenger the legal driver under the RAF Act.
Santam underwriting surge lifts profitability well above targets
Lower weather-related claims and disciplined pricing helped lift underwriting profitability in 2025, pushing margins above the insurer’s long-term target range.
Discovery posts strong interim results as bank turns profitable
Discovery Bank reports a 28% growth in clients, with nearly 70% of new customers coming from outside the group’s existing membership.
Global Vitality businesses gain momentum as AI platform moves into deployment
Stronger UK results, continued growth in China, and the rollout of a new AI-enabled Vitality platform lifted Discovery’s global operating profit.
Estate duty: the key principles behind the tax on deceased estates
Understanding how estates are valued, which deductions apply, and how deemed assets are treated helps you ask the right questions when planning your estate.
Ruling clarifies trustee discretion when employers seek to preserve pension benefits
The judgment emphasises the responsibility of trustees to exercise their discretion fairly when deciding whether to withhold benefits in terms of section 37D.
SCOPA prepares to deliberate on RAF inquiry report as next phase begins
The final document is expected to reach the National Assembly in the next parliamentary term.
Deepfake profits and ‘overwhelming’ illegality: Banxso liquidated
The High Court finds Banxso knowingly benefited from deepfake adverts, misled clients about its licence and returns, and is ‘hopelessly insolvent’.
Bonitas-Medscheme court battle stalls as application removed from urgent roll
Medscheme’s bid to halt Bonitas’ administration transition has been delayed after procedural lapses and unresolved interlocutory issues forced the matter off the urgent roll.
New ‘MyWealth Method’ group surfaces as investigations grind on
A Telegram group reviving the MyWealth name is promoting crypto investment opportunities, as the FSCA’s investigations linked to earlier enforcement actions continue.
Medical scheme vs medical insurance: the risk conversation advisers can’t avoid
In this edition of Cover to Cover, we unpack the structural, regulatory, and underwriting differences that advisers must clarify before recommending either healthcare funding option.
Budget strengthens saving for retirement, says Sanlam
The changes include the increase in the annual tax-deduction cap, and new annuitisation and living annuity commutation thresholds.
