Treasury says the country already has most of the rules it needs; the challenge now is proving that institutions are using them effectively.
South African life insurers reported a 53% surge in death claims between 1 April and 30 September 2021 compared to the same period in pre-Covid 2019, according to statistics released by the Association […]
Policyholders and beneficiaries received claims and benefit payments worth R608 billion from South African life insurers in 2021, the highest paid in a single year, according to statistics released by the Association for […]
Higher mortality claims knocked Momentum Metropolitan’s operating profit in the six months to the end of December, declining by 12% to R785 million compared to the first six months of the 2021 financial […]
The FSCA is ramping up its efforts to trace unclaimed benefits and wants retirement funds and administrators to provide it with information, every three months, about their paid-up members, in addition to information […]
“How much can I claim back from my Steinhoff losses in the current process?” This is a question we have heard frequently over the past few weeks, but which we have not seen […]
In September 2020 the cracks in the finances of 3Sixty Life, the life insurer wholly owned by the National Union of Metalworkers of SA (Numsa) through the Numsa Investment Company, started to show. […]
The South African insurance industry is a vital socio-economic sector that provides a critical safety net to society. This was crystalised in 2021 as we continued to grapple with the fallout from the […]
The group risk market has been “consistently under-pricing” premiums for pandemics, and Sanlam hopes that “more rational pricing” will prevail in future, Sanlam’s financial director, Abigail Mukhuba, said during the group’s annual results […]
The SA Revenue Service (Sars) has allowed only R1.1 billion of the R2.9bn claimed by taxpayers for home-office expenses, Sars commissioner Edward Kieswetter told a meeting of Parliament’s finance committees this month. In […]
Insurers are disputing or rejecting an increasing number of motor vehicle accident claims on the grounds that the insured was speeding, and consumers should be made aware of the implications of the reasonable […]
A fifth wave of Covid-19 could hit South Africa in April or May, but Discovery thinks it is unlikely that it will be more severe than previous waves, says group’s chief executive, Adrian […]
The Financial Services Tribunal has set aside the debarment of a representative and declined to refer the matter back to the FSP for reconsideration, because the tribunal had no confidence that the FSP […]
Pensioners who belong to the Government Employees Pension Fund (GEPF) will receive a 5.5% pension increase on 1 April. Pensioners who retired on or before 1 April 2021 will receive the full increase, […]
The South Africa Reserve Bank has appointed deputy governor Fundi Tshazibana as the chief executive of the Prudential Authority (PA), in a rotation of deputy governor positions, the SARB said in a statement […]
My colleague Mark Bechard’s article on the increase in rejected claims because of reckless driving raises a few interesting questions about the possible use of technology when investigating such claims. The Ombudsman for Short-term […]
The SA Revenue Service (Sars) has “a long way to go” before its service reached an acceptable level and it was “striving hard” to strike a better balance between customer service and risk […]
The PSG Group plans to unbundle its investments and delist from the JSE in an attempt to reduce the 30% discount at which its shares trade to the value of the group’s underlying […]
