Santam’s earnings surge despite troubling weather and vehicle claims
Nearly all business units report strong growth in new business volumes.
Insurance
Where consumers spend and where they try to save
A DebtBusters study provides interesting insights into how South Africans in different income bands prioritise their spending outside of debt repayments.
Implications for the insurance industry of expropriation without compensation
Although expropriation itself is generally an excluded event, there may be knock-on effects that could impact the insurance sector.
Landmark ruling by UK court in business interruption test case
South Africa’s courts have taken much guidance from the judgments emerging from the United Kingdom relating to Covid-19.
Navigating prescription periods: SA insurers and foreign jurisdiction risks
The complexities of prescription periods and cross-jurisdictional disputes can lead to significant insurance reserving and cost implications.
Expired driving permit was not material to the loss, non-life ombud rules
The insurer argued the hijacked vehicle should not have been on the road because the driver’s PrDP had expired.
Removal firm fined for offering insurance without authorisation
The FSCA fines Kings International Removers R1.1 million and debars its owner for eight years.
PPS takes its mutual insurance model to the broader SA market
It says the new business division, called glu, provide members with straightforward insurance solutions and profit-sharing.
Insurance pioneer Douw Steyn passes away aged 72
His legacy includes a groundbreaking approach to selling insurance, building Steyn City, and a commitment to community development.
Hollard secures R2.7m payment despite community unrest defence
The insurer successfully upheld the enforceability of a guarantee after a civil engineering company failed to complete a project because of community disruptions.
Don’t let non-disclosure sink your business: insurance insights for owners
Business owners who neglect to inform their insurers of changes risk denied claims, policy voidance, and even lawsuits.
Insurance sector proves resilient amid global uncertainty
Industry leaders at the IAIS annual conference unpack key risks facing the global insurance market, including the impacts of rising interest rates, geopolitical threats, and the growing role of AI.
High Court reinforces key principles of disclosure in insurance
Applicants must fully disclose all relevant information during underwriting, even if it was divulged in past applications.
Vaping epidemic among teens fuels debate on Tobacco Control Bill and insurance impact
A UCT-led study finds that nearly one-third of Grade 12 learners regularly engage in vaping.
Clientèle aims to expand mass market reach with another acquisition
Following its recent purchase of 1Life, Clientèle has signed an agreement to buy micro-insurer Emerald Life.
Survey highlights recovery in SA insurance industry
Non-life insurers bounced back from a loss of R16.7bn in 2022 to a profit of R13.7bn in 2023, while life insurers posted significant profit growth, says KPMG.
OUTsurance delivers strong financial results with 20.3% earnings growth
OUTsurance South Africa reported an 8.4% increase in gross written premiums for its personal insurance segment and a 71.2% improvement in operating profit for its business insurance.
