Tag Archives | report


Prudential Authority Annual report – Looking beyond the many acronyms and numbers

The South African Reserve Bank’s Prudential Authority (PA) has just published its first annual report for the 2018/19 financial year, covering the state of the country’s banking and insurance sectors. Besides focussing on the annual numbers, what are the other key take outs for the financial services industry? What triggers the reader to focus on […]

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TransUnion SA Industry Insights Report – More South Africans are relying on credit

The latest TransUnion’s Industry Insights Report found that unsecured credit products, including credit cards and personal loans, which are typically used to fund household expenses and smaller ticket purchases, saw a significant year on year growth in Quarter 1 of 2019: Credit card balances grew by 6.6% Year on year Bank personal loans and non-bank […]

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Long Term Ombud Annual Report – Cases resolved in favour of complainants increased

“We received 11 768 written requests for assistance, including 5 978 chargeable complaints. In total, 3 367 cases were finalised, of which 31.5% were resolved wholly or partially in favour of complainants”, Judge Ron McLaren, Ombudsman for Long Term Insurance shares in the just-released 2018 Annual Report. He highlighted the following:  91% of complaints were […]

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Short-term Ombud Annual Report – What are the trends of the complaints received?

The Ombud for Short Term Insurance’s mission is to resolve short term insurance complaints fairly, efficiently and impartially. How did they perform in 2018? How many complaints were received? The Ombudsman just released its Annual Report that provides, amongst other information, statistical data and operational results for 2018. According to Haroon Y Laher, Chairman of […]

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FAIS Ombud 2016/2017 Annual Report

How do the numbers contained in the Ombud’s latest report reflect on its mandate? Complaints received for the period 1 April 2016 to 31 March 2017 came to 10 846, compared to 9 891 for the previous year. • 3 794 (35%) complaints were dismissed. • 4 639 (43%) complaints were referred to alternative forums. • 592 (5.5%) were settled, a decrease from […]

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What keeps the LT Ombudsman awake at night? Part 2

From the Long-term Ombud’s 2016 annual report: The Assessors and Adjudicators in the Long-term Ombud’s office were canvassed about the issues that currently fall into this category. Last week we discussed “Bad Bargains” and Complex Products”. 3. Complainant behaviour The LT Ombud wrote about difficult complainants in the 2015 Annual Report on pages 24 and […]

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Long-term Ombud Annual Report 2015

The office of the Ombudsman for Long-term Insurance (OLTI) needs to be commended for the quality and simplicity of its 2015 annual report. Below are some interesting extracts from the report. General overview In last year’s Annual Report it was pointed out that, despite the continued existence of the trends which could have been responsible […]

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