Individual policyholder funds with assessed losses face higher tax bill
How the limitation on setting off assessed losses against taxable income affects life insurers and policyholders.
Life Insurance
What’s ‘new’ in the PA’s directive relating to Fica and life insurance beneficiaries?
Three things to note when it comes to customer due diligence and assessing money laundering and terrorist financing risk.
BrightRock will remain a separate division after Sanlam acquires full ownership
Also, the group’s fiduciary business will be sold to Capital Legacy Solutions, in which Sanlam will have a have a 26% stake.
Are these emails really the ‘smoking gun’ in insurance ‘collusion’ case?
News24 publishes documents the Competition Commission submitted to obtain warrants ‘to raid’ insurers in 2022.
How Sanlam has fared over the past 10 months
Tough claims environment weighs on short-term insurance business
3Sixty Life petitions Supreme Court of Appeal over final curatorship order
This follows the High Court’s decision confirming its earlier judgment.
Court must rule on couple’s time of death to ensure correct beneficiary payment
High Court weighs witnesses’ testimony to decide whether a husband did, in fact, predecease his wife and beneficiary.
Insurance gap increases only slightly, but not for a good reason
SA’s 14.3 million income-earners have enough life and disability insurance to cover only 45% of their total insurance needs.
How much more income-earners must spend to close the insurance gap
Alternatively, how much less households will have to spend following the loss of a breadwinner.
Under-insurance is greatest among those under 30
Yet younger income-earners will have to rely on insurance benefits for longer.
High Court judgment is not the end of the dispute over 3Sixty Life’s curatorship
3Sixty Life has registered its intention to appeal against the High Court’s decision to place the underwriter under final curatorship. The High Court also cancelled the appointment of Yashoda Ram as 3Sixty Life’s […]
Why Capitec applied for its own life insurance licence
The Prudential Authority (PA) has granted Capitec a licence to conduct life insurance business in South Africa, Capitec announced this week. A subsidiary of Capitec Bank Holdings, Capitec Ins. Pty Ltd, has been […]
Financial institutions may hold far more than R88bn in unclaimed assets
An estimated R88.56 billion in unclaimed assets are held by institutions across the financial sector. However, the FSCA says the amount might be far higher because there is no common understanding of what […]
Hard-pressed consumers forgo life and disability cover
Consumers not only bought fewer risk policies in the first six months of this year but also lapsed a higher number of policies, which is in stark contrast to the same period last […]
Momentum Metropolitan’s 2022 earnings surpass those in pre-pandemic 2019
Momentum Metropolitan Holdings (MMH) delivered normalised headline earnings of R4.383 billion in the year to 30 June, significantly higher than the R1.007bn in the previous financial year, following the less severe impact of […]
‘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 […]
Bidvest Life’s claim volumes jump 44% in 2021
Bidvest Life recorded the highest number of claims in its 27-year history last year, with claim volumes increasing by 44% compared to 2020. The spike was largely driven by an increase in Covid-19 […]
