Life insurers’ claim statistics reflect SA’s high murder rate
Claim statistics for 2022 paint a startling picture of the health and safety troubles facing the country’s youth.
Death Claims
Legal precedent set as Odendaal’s assets forfeited in Steinhoff fraud battle
The SARB has forfeited to the state cash totalling R42m from Berdine Odendaal’s bank accounts, as well as her R18m property in Paarl’s Val de Vie estate.
Read more
Latest claim statistics provide insights for financial advisers, says Old Mutual
Advisers can reference the data to guide consumers in making informed decisions about risk cover.
Shift in Discovery Life claims as Covid moves from pandemic to endemic
The reduction in Covid-19-related death claims in 2022 was offset by increasing morbidity trends.
Sanlam notes uptick in sickness, disability claims among younger South Africans
The total value of claims in 2022 was 23% lower than in 2021, partially because of a marked decrease in Covid-related claims.
Momentum’s interim profit jumps 46% as Covid becomes endemic
However, cash-strapped consumers are putting new business volumes under pressure.
Big five life insurers’ death claims against fully underwritten policies returning to pre-Covid levels
Only 15% of the death claims received by the five insurers between March 2020 and August 2022 were due to confirmed Covid deaths.
‘Strong recovery’ in Sanlam’s life insurance operations
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 […]
Are we paying too much for group insurance?
In the desperate times of the cascading waves of Covid-19, South Africa’s life insurers, and especially group insurers of employee-based schemes, played a critical role in ensuring financial inclusivity by providing insurance cover […]
Death claims during fourth Covid wave closer to pre-pandemic levels
Life insurers reported a significant drop in death claims for the six months to the end of March compared to previous six-month reporting periods since the start of the Covid-19 pandemic. South Africa […]
About 48% of PPS’s claims in 2021 were Covid-related
PPS Life Insurance paid Covid-19-related claims of R1.4 billion in 2021, which was 36% higher than in 2020, when claims were 45% up from 2019, the mutual insurer said in its annual report […]
Old Mutual’s profits double despite impact of Covid claims
Old Mutual turned in a strong performance in the year to the end of December, despite the negative impact of Covid-19-related death claims, with the group’s retail segments paying some R13 billion in […]
Death claims surge 53% during Covid-19 third wave
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 […]
Higher excess death rate among fully underwritten policyholders
Death claims for fully underwritten new-generation life insurance policies were nearly four times higher than the expected death rate during the peak of the third wave of Covid-19, according to the Actuarial Society […]
Higher excess death rate among fully underwritten policyholders
Death claims for fully underwritten new-generation life insurance policies were nearly four times higher than the expected death rate during the peak of the third wave of Covid-19, according to the Actuarial Society […]
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 […]
Vaccination works, Momentum’s death claims data shows
Unvaccinated people are significantly more at risk of severe illness and death than those who are fully vaccinated against Covid-19, death claims data from Momentum Life Insurance has shown. Stephen van Niekerk, head […]
