SASRIA can absorb a catastrophe claim of up to R20bn
The state-owned insurer says it is on track to reach R30bn in reserves by 2029 – but emerging risks could still put its resilience to the test.
claims
Non-life insurers deliver strong performance in 2024 – KPMG survey
Disciplined underwriting, improved claims experience, and robust investment income helped non-life insurers to navigate structural headwinds.
Life insurance sector consolidates its recovery in 2024
KPMG’s survey shows broad improvement across major life insurers, driven by moderate premium growth, stronger investment returns, and efficiency gains.
Slight increase in life insurance policies in first half of 2025
Recurring-premium risk policies grew modestly, while the number of endowment policies and retirement annuities declined, ASISA statistics show.
RAF commits to clearing backlog of outstanding claims
The interim board says the Fund will prioritise claims older than 180 days, estimated at more than R20 billion.
Discovery members ‘make the Smart move’, while KeyCare loses ground
The decline in KeyCare Plus membership reflects a reduction in employer subsidies and fewer mandates for medical scheme membership, DHMS says.
Consumers adjusting insurance covers to cope with rising cost of living
Santam says clients are opting for core covers only, part-insuring assets, increasing excesses, and taking risk-mitigation measures to reduce premiums.
Old Mutual’s risk benefit payouts rise by 4.3% to R14.7bn
The ‘big four’ illnesses made up 73% of severe illness claims; cancer alone accounted for 68%, driven by breast and prostate cancers.
Crime, fire, and weather remain key drivers of commercial claims
Theft under property covers remains the leading driver of crime-related claims, even as overall crime claims dipped in 2024, Santam reports.
Non-life complaints resolved in favour of policyholders at 16.5%
Lead Ombud Edite Teixeira-Mckinon warns against drawing hasty conclusions about complaints stats without factoring in claims volumes and policy counts.
Non-life insurance ombud sees 11% drop in complaints in 2024
Most complaints to the NFO went to the Non-life Division, whose interventions yielded R107m in quantifiable benefits for policyholders.
NFO’s Life Division recovers over R202m for consumers in 2024
Complaints about life-benefit payouts climbed to 36% of the Division’s cases, from 34% in 2023.
RAF loses another medical scheme member liability case
The High Court, endorsing the minority judgment’s view, rules the Fund must pay the medical expenses covered by Discovery Health.
Liberty flags high income protection claims in the financial sector
The group also notes a surge in capital disability benefit claims, driven by increases in the number of claimants and the average sum assured.
Medical expenses | Court grants leave to appeal in member’s dispute with RAF
The outcome of Discovery Health’s appeal before the SCA will affect the outcome of the member’s claim for R1.4 million.
Suicide-related life claims surge by 62% over five years
Discovery Life’s claims data reveals rising risks, with increasing concerns about mental health and skin cancer.
Court orders RAF to pay medical scheme members’ claims
Another attempt by the Road Accident Fund to contest liability based on the ‘majority decision’ against Discovery Health has fallen through.
