Medical schemes experience significant drop in net results for 2022
In 2022, the industry saw a net income of R2.57 billion – down from R12.18bn in 2021 – and faced an operating deficit of R6.155bn, the largest in 23 years.
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 moreIn 2022, the industry saw a net income of R2.57 billion – down from R12.18bn in 2021 – and faced an operating deficit of R6.155bn, the largest in 23 years.
The existence of the RA funds demonstrates that the husband was able to pay the arrear maintenance, judge says.
Adrian Gore says private sector funding is essential to maintain the quality of the healthcare system.
Life insurance companies have defied the odds, bouncing back with impressive results in 2022, KPMG’s South African Insurance Industry Survey 2023 finds.
UT managers fight for market share | Coronation faces huge tax bill | MyMo accounts scandal | Insurance fraud | Discovery’s interim profits
Pawn-while-you-drive warning | Guardrisk insurtech platform | OM buys digital wills start-up | Investec outperforms Alsi
Survey compares Bestmed, Bonitas, Discovery, Medihelp and the Government Employees Medical Scheme.
Discovery’s long-term and short-term insurance arms delivered contrasting performances in the group’s 2022 financial year, with Discovery Life’s normalised operating profit surging by 200% and Discovery Insure’s tanking 165%, driven mainly by the […]
Conducting raids on the premises of the eight life insurers under investigation by the Competition Commission for alleged collusion and price-fixing did not mean that all of them were guilty, Fin24 reports Commissioner […]
Information received “from one of the players in the industry” prompted the Competition Commission to launch its investigation into alleged price fixing by some of the country’s major life insurers. This was all […]
Discovery Group this week announced the launch of its discretionary fund manager (DFM), Cogence, which will give financial advisers access to portfolio analytics and risk analysis tools developed by the world’s largest asset […]
Momentum Metropolitan Holdings (MMH) and Sanlam are the only major life insurers in South Africa to have grown the value of their new business relative to pre-Covid levels, according to PwC. PwC based […]
Discovery chief executive Adrian Gore has told Business Day that the proposed National Health Insurance (NHI) system is “a moral imperative” for the country that he supports fully, although he said it would […]
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 […]
Making vaccination compulsory to enter workplaces and certain public spaces seems a certainty if the statements from the government, business and labour this week are anything to go by. In a televised address […]
Cheaper primary health insurance plans, which offer less cover than traditional medical scheme packages, require an exemption from the Medical Schemes Act by the CMS. In a recent ruling by the appeal board […]