Enhanced underwriting and pricing drive Old Mutual Insure’s performance
The operating profit more than doubled in 2024, while gross written premiums increased by 9%.
Insurance
Judgment in Delta case highlights D&O insurance limitations
With directors held accountable for undisclosed deals and conflicts of interest, the judgment brings to light the crucial issue of whether D&O policies will stand behind executives embroiled in misconduct.
Sanlam fires on all cylinders, delivering strong earnings and new business
The group recorded double-digit earnings, robust new business volumes, and an increased dividend, all underpinned by its tri-regional focus.
Sanlam advances Assupol integration to strengthen retail mass operations
With the integration of Assupol well under way, Sanlam is working to streamline its operations and enhance its market position.
Santam’s earnings surge despite troubling weather and vehicle claims
Nearly all business units report strong growth in new business volumes.
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.
