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.
Industry News
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.
Discovery Health’s 2024 contribution increases await green light from CMS
There are concerns that members with Saver plans will experience severe cuts to the allocations to their medical savings accounts.
Global crime index reveals ‘significant expansion’ of financial crimes
South Africa has the seventh-highest criminality score in the world and the third-highest in Africa, according to the Global Organized Crime Index.
Clash of the titans: medical scheme heavyweights announce 2024 contributions
Discovery Health, Bonitas, and Momentum Solutions say ‘increasing financial pressures’ are the reason for the contribution increases.
Discovery and RAF see latest High Court judgment differently
The High Court has dismissed the administrator’s second attempt to compel the Fund to resume processing medical scheme members’ claims.
Bear market in VIX is over – investors are staring down the barrel
Investors are buying more put options than call options, which is driving up market volatility.
RAF amendments ‘will result in higher medical scheme contributions’
The proposed liability exclusions in the Road Accident Fund Amendment Bill will hit medical schemes and short-term insurers hard, legal experts warn.
