Sasria Update
According to Moneyweb, the South African Special Risks Insurance Association (Sasria) expects claims related to the unrest in July to amount to R20 billion, with 10% of the amount to be paid out […]
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.
Significant increases in funeral insurance fraud include shocking actual examples
South African life insurers reported a 12% increase in fraudulent and dishonest claims across all lines of risk business in 2020, with a monetary increase of over R50 million. Some of the examples […]
Impact of ABSA MM closure on CIS inflows
The rather surprising decision by ABSA to close the biggest money market fund in the country had quite an impact on the latest data published by ASISA last week. The local Collective Investment […]
FSCA expectations regarding premium increases on funeral policies
The Financial Sector Conduct Authority (FSCA) has expressed its concern about high premium increases that are being implemented by insurers on funeral policies throughout the industry. While it is aware of the impact […]
Change in CIS rankings based on assets under management
Patrick Cairns published an interesting article in Citywire’s weekly roundup based on the latest ASISA statistics as at the end of June. Titled Ninety One overtakes Allan Gray as SA’s largest CIS manager, […]
Reaction to Green Paper on social security
Last week the Department of Social Development published a green paper on proposed social security and retirement reforms for public comment. And boy, did they get that. Solidarity has threatened with court action […]
Expired Driver’s licence NOT acceptable as ID for RE
Candidates wishing to write Regulatory exams are required to identify themselves by means of a VALID document, including an ID document, a driver’s license or a passport. With the backlog experienced in the […]
Tracking your Fit and Proper status and progress
The drive to professionalise the financial services industry has brought many regulatory obligations. Keeping track of the myriad of competency requirements are, at best, a nightmare if you are still using outdated methods […]
Tracking your Fit and Proper status and progress
The drive to professionalise the financial services industry has brought many regulatory obligations. Keeping track of the myriad of competency requirements are, at best, a nightmare if you are still using outdated methods […]
Rosy outlook for medical scheme contribution increases
This year, for the first time, it seems likely that medical schemes will announce contribution increases which are in line with recommendations suggested by The Council for Medical Schemes (CMS). This is according […]
FSCA update on submission of compliance and other FSP reports for 2021
The Regulator’s Communication 16 of 2021 (FAIS) provides clarity to stakeholders, FSPs, key individuals and compliance officers regarding the submission of compliance reports, handover reports and irregularity reports for 2021. Compliance Reports and […]
FSCA update on submission of compliance and other FSP reports for 2021
The Regulator’s Communication 16 of 2021 (FAIS) provides clarity to stakeholders, FSPs, key individuals and compliance officers regarding the submission of compliance reports, handover reports and irregularity reports for 2021. Compliance Reports and […]
Why SASRIA insurance is critical – The hidden cost of damages caused by civil commotion
The massive impact of claims for business interruption resulting from a reportable contagious disease last year, followed by the civil unrest recently, is a sober reminder of our duty to ensure that clients […]
Why SASRIA insurance is critical – The hidden cost of damages caused by civil commotion
The massive impact of claims for business interruption resulting from a reportable contagious disease last year, followed by the civil unrest recently, is a sober reminder of our duty to ensure that clients […]
“Drove my chevy to the levy…”
Last Thursday, the FSCA published that “Dear John” notice you all look forward to so much every year. Yes, you’ve guessed it – FSCA Notice 465 of 2021 contains details of the levies […]
“Drove my chevy to the levy…”
Last Thursday, the FSCA published that “Dear John” notice you all look forward to so much every year. Yes, you’ve guessed it – FSCA Notice 465 of 2021 contains details of the levies […]
Need for disability income protection increases substantially after Covid
The pandemic has highlighted the financial vulnerability of people living in South Africa. Amidst a lagging vaccination programme and a resurgent third wave of infections, it is clear that the catchphrase ‘it won’t […]
