Sanlam notes uptick in sickness, disability claims among younger South Africans
The total value of claims in 2022 was 23% lower than in 2021, partially because of a marked decrease in Covid-related claims.
Industry News
Momentum’s sales of long-term savings and protection products under pressure
And Momentum Insure takes a knock from the higher cost and the increased frequency of claims.
Old Mutual’s gross written premiums up 19% in the first quarter
Life insurance sales down slightly as the group stops selling certain products in China.
Why policyholders complained to the short-term ombudsman in 2022
Annual report notes a steady increase in disputes related to power surge claims.
Short-term insurers with the most and the least complaints in 2022
The important statistic is the proportion of personal lines complaints relative to an insurer’s share of the total personal lines claims.
What’s inside the long-term insurance ombudsman’s 2022 report
Decline in the number of complaints and in the number of cases resolved in favour of policyholders.
Life insurers with the most and least complaints to the ombud in 2022
Cases that were resolved wholly or partially in favour of the complainants fell to 29%.
SA capital markets are cheap, but is it darkest before dawn?
Any stupid remark or action could lead to a further downgrade in South Africa’s credit rating and higher 10-year government bond yields.
Updated: Discovery to petition SCA after losing appeal against R25m disability order
The key issue in the appeal application was the relationship between the insured event and the life insurer’s duty to pay the claim.
Weather and power surge claims hit Santam’s underwriting profits
Loadshedding, inflation, and high interest rates are squeezing consumers’ finances.
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.
