Huge shortfall in critical illness protection leaves most income earners exposed
ASISA’s research shows formally employed South Africans face a major liquidity risk: R4 trillion in earnings versus only R1.1 trillion in critical illness cover.
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Momentum doubles down on IFAs – advice at the heart of its impact strategy
CEO Jeanette Marais says Momentum will ‘invest aggressively in advice’ in its effort to strengthen VNB and long-term competitiveness.
FSCA probes complaint processes amid surprisingly low filing rates
A survey shows that only 8% of consumers lodged complaints with financial institutions between 2021 and 2023. Does this figure reflect genuine satisfaction or signal barriers in the complaint process?
Life insurers pay a record R639 billion in 2024
Sales of recurring-premium savings policies continued to improve, while lapses of risk policies declined.
How the VAT increase will impact insurers and policyholders
Insurers must absorb additional compliance expenses and rework their pricing strategies, with no corresponding revenue gain.
Old Mutual chief executive to take early retirement
Following 32 years with Old Mutual and nearly five as CEO, Iain Williamson is stepping down in August.
Rising risks and rewards: the shift to asset-intensive reinsurance in the insurance sector
As insurers increasingly turn to alternative assets and cross-border reinsurance, industry experts highlight the growing complexities and risks.
Top achievers share insights on excelling in short-term insurance qualification
Top achievers in the Higher Certificate in Short-Term Insurance (HCSTI) qualification exams, credit the qualification with deepening their industry knowledge and advancing their careers.
Global Insurance Capital Standard gets the nod
After years of meticulous development, the International Association of Insurance Supervisors is shifting its focus to the next big challenge: rolling out the Insurance Capital Standard on a global scale.
Santam to acquire stake in MultiChoice’s insurance business
Santam will pay Sanlam Life R925 million to buy 60% of the A1 ordinary shares in NMS Insurance Services.
Auto & General’s Knysna fires advert is not offensive, says ARB
Insurance advertising often addresses personal experiences of loss and hardship, so they are likely to trigger strong emotional responses, the Board says.
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.
Sasria aims to reintroduce R1bn cover amid rising reinsurance costs
Sasria’s five-year strategic plan includes the reintroduction of R1bn excess of loss cover and expanding its coverage for events such as natural disasters.
ARB hears complaint about Naked Insurance’s ‘lose wait’ campaign
The ad’s play on words raises concerns over ‘insensitivity to weight-loss struggles’, but it does not violate the Code of Advertising Practice.
Navigating 2024: key trends shaping the future of the insurance industry
From global risks to AI advances: experts share their insights into the forces steering the insurance landscape in the year ahead.
Insurance leaders urged to chart ethical course in the age of generative AI
The 2024 edition of the annual EY (Ernst & Young) Global Insurance Outlook details the risks, rewards, and a roadmap for the responsible deployment of GenAI in the industry.
Insurance crime threatens economic growth: expert urges collaborative action
Dr Jerry Chetty, Head of Business Integrity at Santam, examines the interconnectedness of insurance crime and the need for it to be dealt with as a priority crime.
