SCOPA says the RAF 1 form may have kept claims out of the system, leaving the Fund exposed to a wave of unrecognised liabilities if it is set aside.
The recently published code that aims to eliminate all forms of workplace harassment will come under the spotlight in the first webinar to be hosted by Moonstone Compliance’s new Employment Law Service. The […]
The High Court in Johannesburg has placed Health Squared under provisional curatorship following an application brought by the Council for Medical Schemes (CMS). The provisional curatorship is effective from 8 September. The court-appointed […]
The FSCA has approved amendments to the JSE’s Listings Requirements to enable the listing of actively managed exchange-traded funds (ETFs). The approval was published in the Government Gazette on 9 September, and the […]
Sanlam does not believe the Competition Commission’s investigation into the country’s major life insurers will result in “any processes at Sanlam being highlighted as problematic”. However, Sanlam said in its operational and financial […]
A “concerted set of underwriting actions” were under way to reprice Santam’s book, to take account of the inflationary and other pressures that were pushing up the cost of claims, Sanlam’s chief executive, […]
Sanlam’s life insurance operations experienced what the group called “a strong recovery” in the first six months of its 2022 financial year as a result lower mortality claims compared to the same period […]
The recent High Court case involving Blackspear Holdings, Bryte Insurance and the South African Special Risk Insurance Association (Sasria) had a sequel last month, when the court had to decide whether the claim […]
Market volatility has resulted in assets under management (AUM) by the collective investment schemes (CIS) industry dropping below the R3 trillion threshold reached in the fourth quarter of last year. Assets under management […]
The High Court in Pretoria on Monday dismissed an urgent application by OUTsurance for comparison website Hippo to stop showing an advertisement that is apparently a parody of the insurer’s “Saver” advertisements featuring […]
Discovery’s long-term and short-term insurance arms delivered contrasting performances in the group’s 2022 financial year, with Discovery Life’s normalised operating profit surging by 200% and Discovery Insure’s tanking 165%, driven mainly by the […]
The FSCA last week published two notices relating to the guarantee, professional indemnity (PI) and fidelity insurance (FI) exemptions granted to certain types of FSPs. The FSCA has once again extended, to 31 […]
The FSCA has fined the directors of the Praesidium Group a total of R29 million and debarred them for between 10 and 20 years after its investigation into the group’s entities found they […]
The FSCA will this month hold online workshops on financial soundness for FSPs and on an upcoming survey. The Authority said there will be two workshops on financial soundness, according to the type […]
The High Court in Johannesburg has granted Health Squared leave to apply for voluntary liquidation on September 27. Read: CMS’s bid to strike a deal for Health Squared members fails In an order […]
The Financial Services Tribunal (FST) has decided that a retirement fund was correct in refusing to deduct a judgment debt from the withdrawal benefit of a former employee whose negligent or reckless driving […]
Old Mutual Insure on Monday announced that it has signed a share purchase agreement to acquire 100% of niche short-term insurer Genric for an undisclosed amount. Genric partners with and has equity interests […]
In District Six, the musical, one of the songs asks: The law, the law, the law. What for? The answer comes from Kris Kristofersson: The law is for protection of the people. After […]
