Archive | Industry News


High inflation ‘is raising the risk’ of under-pricing and underinsurance

Insured values will become a major discussion point with insureds this year, as high inflation raises the risk of underinsurance for companies and mis-declared values for insurers, according to Allianz Global Corporate & Specialty’s 2022 Claims Review. In a high-inflation environment, it is important that businesses regularly monitor the value of assets, as well as […]

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Akani to take legal action following the FSCA’s search and seizure operation

Akani Retirement Fund Administrators says it intends to take legal action following what it called the FSCA’s “unlawful” search and seizure operation at its premises. It said this action would include applying to set aside the search warrant, which it said the FSCA had obtained without notice to Akani. In a brief media release dated […]

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German financial regulator fines Steinhoff R192m

Germany’s financial supervisory authority has fined Steinhoff International Holdings a total of €11.29 million (about R192m) for breaching financial regulations. The multinational retailer has a primary listing on the Frankfurt Stock Exchange and a secondary one on the JSE. BaFin said in a brief statement that the sanction related to contraventions of the Securities Trading […]

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Asisa members unite R22.7bn with policyholders, investors, beneficiaries and heirs

Members of the Association for Savings and Investment South Africa (Asisa) united policyholders, beneficiaries, investors and heirs with unclaimed assets worth R22.7 billion in 2021, Asisa said in a statement. The assets were held in 77 790 risk policies, savings and investment policies, annuity polices and accounts in collective investment scheme portfolios. These unclaimed assets […]

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How the top open medical schemes’ contribution increases compare to inflation

Bestmed, Fedhealth and Medshield have had the highest average annual contribution increases among the top open medical schemes over the past 15 years, according to Alexander Forbes Health’s 2021/22 Medical Aid Insights. Read: Medical schemes are robust with healthy reserves, Sustainability Index shows Alexander Forbes Health’s analysis found that the average contribution increases of the […]

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