Suicide-related life claims surge by 62% over five years
Discovery Life’s claims data reveals rising risks, with increasing concerns about mental health and skin cancer.
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Life insurers pay a record R639 billion in 2024
Sales of recurring-premium savings policies continued to improve, while lapses of risk policies declined.
High Court upholds surety deed despite electronic signature hurdles
The decision in favour of Momentum Metropolitan Life affirms the importance of substance over form in electronic surety agreements.
Old Mutual’s operating profit up 4%, led by Insure and Investments
Exceptional underwriting in Old Mutual Insure and a 37% jump in Investments drive overall strength, but Corporate’s life insurance sales slumped 42%.
High Court upholds Discovery Life’s decision to void policy
The policyholder inflated her earnings and failed to disclose a simultaneous application with another insurer, materially affecting the risk assessment.
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.
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.
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.
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.
Choosing the best life cover for your clients: key questions to ask
Choosing the best life insurance for your clients is about more than comparing prices. It’s about ensuring the cover meets their unique risks and needs, from income protection to cancer care, says Bidvest Life’s Mark Neil.
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.
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.
