Old Mutual’s chief executive is new ASISA chairman
Mahesh Cooper, Allan Gray’s chief operating officer, is appointed as deputy chairman.
Industry News
Two pots: Alexforbes predicts R50bn asset outflow in the first year
The impact on capital markets should be minimal considering that most funds hold considerably more than 1% in cash, says Dawie de Villiers.
No savings pot withdrawal in September if your balance is less than R2 000
The Actuarial Society of South Africa urges retirement fund members to check their benefit statement to see whether they will qualify for a withdrawal.
Sanlam flags increase in sickness and disability claims among younger policyholders
The group’s 2023 claim statistics also note the steady increase in pay-outs arising from pregnancy complications.
Alexforbes reports 16% asset surge, announces special dividend
Alexforbes is focusing on individual consulting as its main growth area, with in-fund asset flows of R3.5 billion for the year.
FSCA investigating Finbok trading platform after complaints about refunds
The Authority emphasises that the investigation is not complete, and it has made no findings to date.
Here’s how much SA institutions’ offshore allocations have grown
The SA Reserve Bank is concerned about the liquidity of the country’s financial markets and institutional investors’ exposure to government bonds.
High Court dismisses five-year battle over faulty car due to procedural missteps
An aggrieved purchaser must exhaust the dispute resolution mechanisms outlined in the Consumer Protection Act before approaching the courts.
SARB sanctions global bank for FICA non-compliance
The sanctions follow an inspection of the Bank of China’s Johannesburg branch three years ago.
Why I have turned bullish on South African assets
A comparison of current market behaviour with the pivotal 1994 election period points to the potential for a rally in the rand and financial shares.
Judge slams Legal Practice Council’s delayed action on attorney misconduct
The High Court has struck off attorney Ashley Youngman and criticised the Legal Practice Council for failing to address numerous complaints over several years.
‘Outdated’ pricing structure is harming microlenders and consumers, says MFSA
The most recent revision to the maximum interest rates and fees that credit providers can charge was in November 2015.
Comprehensive insurance ‘is a necessity as kidnappings skyrocket’
It has become crucial for companies and individuals to secure specialised coverage for kidnapping risks, says OLEA South Africa.
Sygnia grows assets under management despite net outflows doubling
Introducing prescribed assets for retirement funds won’t solve South Africa’s solvency problems, directors say.
Two more charged in connection with BHI Trust Ponzi scheme
The Hawks have indicated that further arrests are likely in the wake of the apprehension of Rubicon director Sona Pillay and Global & Local founder Michael Haldane.
Loadshedding: ‘It is going to be a tight winter’
Old Mutual Insure unpacks the impact of loadshedding on the insurance industry and the outlook for a stable electricity supply.
Wife organised hit on her husband to get insurance policy payouts
The three teenagers hired by Kedibone Nyathi testified for the State after their conviction and sentencing.
