Sanlam pays out R14bn in death claims – driven mainly by Covid
Sanlam Life and Savings paid gross death claims of more than R14 billion in the first 10 months of 2021 – 88% higher than in the same period in 2020 – mainly because […]
Life insurers top R5 trillion as growth masks rising risk pressures
Strong market performance lifts assets to record highs, but lapses and protection gaps persist beneath the surface.
Insurer’s case falls apart when it emerges that assessor asked witnesses leading questions
The inability of police officers to breathalyse a driver who may be under the influence means an insurer has to rely on circumstantial evidence, such as statements from witnesses, to prove intoxication. However, […]
Circumstantial evidence points to a pre-existing condition, Osti finds
The Ombudsman for Short-term Insurance (Osti) has upheld an insurer’s decision to reject a travel insurance claim despite a medical specialist stating that the policyholder might not have been suffering from a pre-existing […]
Tax change for taxpayers who receive employer and pension income
The SA Revenue Service (Sars) will introduce changes to its systems from 1 March 2022 so that taxpayers who receive income from more than one source, and where one of the sources is […]
Parliament rejects pension-backed loans amendment
Parliament’s Standing Committee on Finance has rejected a proposed amendment to the Pension Funds Act (PFA) that would allow retirement fund members to take out loans of up to 30% against their pension […]
Five must-have soft skills for intermediaries in 2022
The post-pandemic world we are edging towards will require the adoption and honing of a new set of soft skills, according to Thuthuka Gumede, the regional general manager: Gauteng South at SanlamConnect. “Emotional […]
Succession and contingency planning for financial advisers
As a financial adviser, your basic function is to ensure that your clients make provision for the foreseeable, as well as the not-so-foreseeable future – the things that can happen, and those that […]
West-Pro was dishonest about underwriting of funeral policies, tribunal finds
The Financial Services Tribunal has upheld the debarment of West-Pro Holdings’ managing director and key individual for falsely claiming that the administrator’s funeral policies were underwritten by Old Mutual. It also upheld the […]
West-Pro was dishonest about underwriting of funeral policies, tribunal finds
The Financial Services Tribunal has upheld the debarment of West-Pro Holdings’ managing director and key individual for falsely claiming that the administrator’s funeral policies were underwritten by Old Mutual. It also upheld the […]
Alexander Forbes, Sanlam to buy divisions from each other
Sanlam and Alexander Forbes have announced two transactions in which they will buy divisions from each other. Sanlam will pay R200 million for Alexander Forbes’ individual client administration business, which will become part […]
Alexander Forbes, Sanlam to buy divisions from each other
Sanlam and Alexander Forbes have announced two transactions in which they will buy divisions from each other. Sanlam will pay R200 million for Alexander Forbes’ individual client administration business, which will become part […]
Closure of Absa Money Market Funds knocks CIS inflows
The closure of South Africa’s biggest money market fund in the second quarter knocked the collective investment scheme industry, with total net inflows hitting their lowest level in five years in the year […]
Closure of Absa Money Market Funds knocks CIS inflows
The closure of South Africa’s biggest money market fund in the second quarter knocked the collective investment scheme industry, with total net inflows hitting their lowest level in five years in the year […]
Face-off over vaccine mandates heats up
Lawyers acting for the National Employers’ Association of South Africa (Neasa) and four other business organisations have sent a letter to President Cyril Ramaphosa objecting to mandatory Covid-19 vaccination. The four other organisations […]
All employees in private security sector must belong to provident fund
All employees in the private security sector, irrespective of their job description, must become members of the Private Security Sector Provident Fund, and likewise all employers in the sector must participate in the […]
All employees in private security sector must belong to provident fund
All employees in the private security sector, irrespective of their job description, must become members of the Private Security Sector Provident Fund, and likewise all employers in the sector must participate in the […]
Opinion that a fund’s benefit allocation is unfair isn’t grounds for interfering
A decision made by a fund’s trustees can be interfered with only where it can be shown that they have taken irrelevant, improper and irrational factors into consideration, and where it can be […]
