Court makes punitive costs order against Guardrisk after finding expert’s evidence wanting
Insurer must pay R1.82m to a Ferrari owner whose claim was rejected on the grounds of reckless driving.
MediCheck claims win as Discovery Health writes off up to R170m in ATB recoveries
Discovery Health has abandoned recovery action against more than 16 500 members, agreeing to absorb up to R170 million in overpaid ATB claims after sustained pressure from MediCheck,
Thursday briefing: a round-up of recent financial services news
New limits for allowances | Grey-listing will last ‘for years’ | Grey-listing, blackouts ‘eroding SA’s status’ | Rand manipulation case.
FSCA provisionally withdraws Prosper’s licence following its liquidation
Authority also pulls the licence of Stringfellow Financial Services.
Momentum’s interim profit jumps 46% as Covid becomes endemic
However, cash-strapped consumers are putting new business volumes under pressure.
SIU probes 102 law firms for duplicate payments
Investigation into allegations of corruption and maladministration at the Road Accident Fund.
Santam alerts advisers to email interception cyber scam
Provides guidelines on how to avoid being caught out.
Treasury ‘needs to adjust’ Budget predictions following SA’s grey-listing
Grey-listing reduces a country’s GDP growth by between 0.5% and 1.5%, says economist Iraj Abedian.
Glacier by Sanlam on track to becoming SA’s largest LISP
Its asset base is expected to grow even further after the integration of Absa’s LISP business.
Medical schemes want pathology groups to pay back ‘excessive charges’ for Covid-19 tests
Health Funders Association files a complaint with the Competition Commission
Requirements for claiming a tax deduction for charity donations amended
Sars publishes a list of the additional information that must be included on the receipt.
Monday briefing: a round-up of recent financial services news
FSCA’s risk-based approach | Medical scheme in liquidation | CIPC to collect beneficial ownership info | SA ties with Russia ‘a risk’
Santam pays record R29.8bn in claims in 2022
Another year of high pay-outs following Covid in 2020 and the unrest in 2021.
Prudential Authority, 3Sixty Life reach an agreement over curatorship
High Court appoints Fagmeedah Petersen-Cook as the life insurer’s final curator.
SA hedge funds grow their assets by 30% in 2022
Industry hopes amendments to regulation 28, separating hedge funds and private equity investments, will boost inflows.
Asisa responds to two-pots deadline of 1 March 2024
The legislation may not be finalised until October this year.
Collective investment scheme assets once again exceed R3 trillion
It’s too soon to tell how grey-listing will affect the industry, says Asisa.
Where SA unit trust investors allocated their money in 2022
Investors took an interesting approach to last year’s rollercoaster investment environment, says Asisa.
