Monday briefing: a round-up of recent financial services news
Two-thirds of CEOs expect unrest | Funds with exposure to Transaction Capital
Santam
Thursday briefing: a round-up of recent financial services news
OM concerned about lapses | OM 2022 results | Santam buys MTN’s device book | RAF seeks to appeal claims ruling.
Sanlam net results hit record high in 2022
But new business volumes from life insurance operations fall 10%.
Santam alerts advisers to email interception cyber scam
Provides guidelines on how to avoid being caught out.
Santam pays record R29.8bn in claims in 2022
Another year of high pay-outs following Covid in 2020 and the unrest in 2021.
Santam clarifies the impact of grid failure exclusion on power surge cover
The intention of the grid failure exclusion is not to cancel power surge cover, the insurer says.
Thursday briefing: a round-up of recent financial services news
SA unit trust returns | Flood claims | Santam profits warning | Insuretech raises $17m | Sanlam-AfroCentric deal | Business account fees.
Sanlam pays tribute to ‘titan’ Desmond Smith
It says Smith played a key role in laying the foundation for the financial services group as it currently exists.
How Sanlam has fared over the past 10 months
Tough claims environment weighs on short-term insurance business
High Court considers the meaning of ‘sudden’ in R7m liability claim
Transnet took Santam to court to recover the costs of rehabilitating soil contaminated after thieves broke into a fuel pipeline.
Santam introduces exclusions for losses following loadshedding and other electricity grid interruptions
No doubt, other insurers will soon follow suit.
Why insurance premium increases are unavoidable
Santam’s executive head of commercial and personal intermediated business, Andrew Coutts, has issued a communication to intermediaries setting out the factors that have made premium increases unavoidable. Coutts said households and businesses have […]
Preventing a disconnect between client expectations and policy conditions
In a recent article, I quoted from a review conducted by Allianz Global Corporate & Specialty (AGCS) that examined developments in corporate insurance claims and highlighted the top causes of loss for companies, […]
Santam repricing its book to take account of inflation and other cost pressures
A “concerted set of underwriting actions” were under way to reprice Santam’s book, to take account of the inflationary and other pressures that were pushing up the cost of claims, Sanlam’s chief executive, […]
Vastly different financial results from Discovery’s insurance arms
Discovery’s long-term and short-term insurance arms delivered contrasting performances in the group’s 2022 financial year, with Discovery Life’s normalised operating profit surging by 200% and Discovery Insure’s tanking 165%, driven mainly by the […]
Global warming warnings: insurers must heed the KZN floods
The extensive flooding and landslides experienced on stretches of the KwaZulu-Natal coastline on 11 and 12 April should serve as a warning to the general population, and more pertinently, to South Africa’s non-life […]
Tough times call for innovative thinking
The non-life insurance sector in South Africa, more commonly known as the short-term insurance industry, has arguably experienced its most challenging three years. Although provision was made for possible disasters such as fire […]
