Most intermediaries will agree that finding cover that completely addresses the needs of professionals is a tough ask. This market faces myriad unique challenges. There needs to be a greater understanding of what professionals really need – and a corresponding, cost-effective product selection to address this. This starts by ensuring your client has a valid […]
Sanlam has reported “a creditable performance” for the first four months of this year, with “strong results” in the life insurance and investment management businesses offsetting weak general insurance and credit business results. Although its life insurance business recorded much lower Covid-19 excess mortality claims, Santam – the short-term insurer in which it holds a […]
Momentum Metropolitan Holdings (MMH) and Sanlam are the only major life insurers in South Africa to have grown the value of their new business relative to pre-Covid levels, according to PwC. PwC based this conclusion on an analysis of the financial results of Discovery, Liberty Holdings, MMH, Old Mutual and Sanlam for the year to […]
The Financial Services Tribunal (FST) as upheld the FSCA’s decision to debar a life insurance representative who admitted that she submitted unauthorised policy applications but subsequently sought to qualify her admission. What is interesting about this case is that it provides clarity on the process involved when the FSCA debars a rep, rather than the […]
Sanlam and Europe’s largest insurer, Allianz, have agreed to combine their operations across Africa in a joint venture that will house the business units of both companies in the African countries where one or both companies have a presence, the financial services groups said in a statement. South Africa is excluded from the agreement, and […]
Absa Life has the most satisfied clients among the country’s major life insurers, according to Consulta’s latest South African Customer Satisfaction Index for Life Insurance. The index is based on a survey of more than 2 100 customers of the country’s largest life insurers by market share during the last quarter of 2021. “The past […]
The group risk market has been “consistently under-pricing” premiums for pandemics, and Sanlam hopes that “more rational pricing” will prevail in future, Sanlam’s financial director, Abigail Mukhuba, said during the group’s annual results presentation on 10 March. Sanlam reported a strong performance in the year to the end of December 2021. It achieved its aim […]
Sanlam Life and Savings paid gross death claims of more than R14 billion in the first 10 months of 2021 – 88% higher than in the same period in 2020 – mainly because of the impact of the third wave of Covid-19, the group said in a trading update on Wednesday. It paid R3.42bn in […]
Sanlam and Alexander Forbes have announced two transactions in which they will buy divisions from each other. Sanlam will pay R200 million for Alexander Forbes’ individual client administration business, which will become part of Glacier by Sanlam. Alexander Forbes will continue to own the clients whose funds will be managed by Glacier, and it will […]
David Gluckman, the chairperson of the Sanlam Umbrella Fund, the third-largest umbrella fund in South Africa, has backed calls by National Treasury and Finance Minister Enoch Godongwana for greater consolidation in the retirement-funding industry. Gluckman, who is also the head of special projects at Sanlam Corporate, told the Sanlam Umbrella Fund Symposium last week that […]
