Life insurance industry stages a remarkable comeback
Life insurance companies have defied the odds, bouncing back with impressive results in 2022, KPMG’s South African Insurance Industry Survey 2023 finds.
Industry News
FSCA reports an increase in enforcement action and debarments in 2022/23
The number of FSP licence approvals was the lowest in the past three years.
Medical scheme contribution increases largely surpass recommended 8% hike
The Council for Medical Schemes has withdrawn a directive for Discovery to retract its communication about contribution and benefit changes for 2024.
No major cuts to government expenditure in MTBPS, says Godongwana
National Treasury’s approach is ‘moderate’ spending cuts and a ‘sustainable’ increase in borrowing.
What customers are saying online about SA’s major insurers
One short-term insurer bucks the overall negative trend when it comes to the claims-handling process.
Unpacking the tax implications for investments
The South African Institute of Professional Accountants’ Ettiene Retief provides insights on how individual investors can make smart tax-informed decisions for their investment portfolios.
Sasria wants an explicit guarantee that the state will be its reinsurer of last resort
The reinsurance market will remain hard for the foreseeable future, and most reinsurers believe another July 2021 is just around the corner, says chief executive.
UPDATED: Withdraw 2024 contribution increase announcements, regulator instructs medical schemes
Discovery has lodged an appeal against a Council for Medical Schemes directive to retract communication to members about its 2024 contribution and benefit changes.
Former Edwafin CEO gets 10-year prison sentence for running a Ponzi scheme
Patrick Stapleton – former CEO of the notorious Edwafin investment company – was recently convicted and sentenced for running a Ponzi scheme, the workings of which seem oddly familiar.
‘We do not need a BRICS currency,’ says Kganyago
A BRICS reserve currency might be more volatile than other currencies because it will be subject to five different fiscal policies, says Sarb Governor Lesetja Kganyago.
Global debt crisis looming? Significant fallout if it’s not contained
The government should realise that the days of debt-financed spending sprees and extravagance are over, particularly in the run-up to next year’s election.
Sarb governor says ‘naughty local governments’ are driving inflation
South African Reserve Bank Governor Lesetja Kganyago unpacks the risks to inflation and the country’s ability to surmount them.
FPI announces finalists for Financial Planner of the Year award
The winner will be announced at a gala dinner on 14 November.
Asisa urges policyholders to explore all options before giving up their risk cover
Statistics for the first half of 2023 show a high number of lapses and surrenders as consumers are squeezed by the cost of living.
Insurers still quantifying losses from Western Cape storm
The City of Cape Town has declared the storm that ravaged the Western Cape over three days in September ‘a major incident’.
Bestmed and Medihelp announce 2024 contribution increases
South Africa’s ‘Big Five’ medical schemes have published their 2024 contribution increases, and members should prepare to pay significantly more for cover.
Non-financial businesses ‘a key priority area’ for Financial Intelligence Centre
The FIC’s intelligence reports contributed to the recovery of more than R5.8bn in criminal proceeds in 2022/23.
