Old Mutual reports double-digit growth in gross flows
The group’s latest trading update discloses a 19% surge in gross flows and a rebound in net client cash flows.
#lifeinsurance
Sanlam sees strong growth across all business lines
The group’s new business volumes in life insurance grew by 12%, while net operational earnings rose by 17%.
Life insurers, investment companies report a 46% surge in fraud and dishonesty
The industry lost at least R175.9 million last year but prevented losses of R1.5 billion through enhanced detection efforts, says ASISA.
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.
How financial advisers can attract millennials with income protection solutions
Bidvest Life’s Nic Smit suggests shifting from the traditional approach of leading with death coverage to focusing on income protection when engaging younger clients.
Does ‘sitting on the mattress’ matter? Ombud rules on insurance policy dispute
The NFO decided that failing to follow customary mourning rituals did not prevent the recognition of a customary marriage, awarding the claim based on fairness.
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.
Life insurers pay out R298bn as policy lapses remain a concern
ASISA advises consumers to take a holistic view of their finances and avoid hasty decisions that could leave them unprotected.
Sanlam wins appeal as High Court enforces policy’s contractual terms
The High Court overturns a Regional Court’s decision that allowed a policyholder to cancel her five-year endowment policy early.
Opportunity for young professionals to start their financial journey in the right way
Various financial practices will provide essential insights and guidance to young professionals at an event in Cape Town.
Discovery delivers strong profit growth, boosts dividend by 38%
The financial services group reports a 17% rise in normalised operating profit to R11.6bn, with strong performance from its South African businesses.
Strong life insurance sales drive Sanlam’s 14% interim profit growth
Sanlam gained market share in individual underwritten life insurance, supported by strong single-premium growth and stable persistency in the affluent segment.
Common reasons life insurers reject death benefit claims
Life insurers paid almost 96% of death and funeral benefit claims last year – with the total payout worth R39.9 billion.
More South Africans embracing offshore life insurance to hedge against rand depreciation, says Discovery
The Dollar Life Plan provides protection against the high cost of specialised medical treatment or studying in a foreign university.
PPS ‘disappointed’ by 12% decline in new life and risk insurance business
The allocation to members’ Profit-Share Accounts soars from R620 million to R4.54 billion thanks to strong investment returns.
Capitec to launch life cover product in June
The group’s after-tax profit from its insurance business increased by 12%, with its funeral plans now covering more than 12 million lives.
Discovery Life’s claims report: ancillary benefits dominate payouts
Life insurance payouts rose in 2023, while Covid-19 claims fell sharply, indicating the virus’s shift from pandemic to endemic status.
