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. […]
Santam has acquired full ownership of on-demand insurtech company JaSure, buying out the 49% stake it did not already own. Founded in 2017, JaSure operates through an app, competing with insurtech companies such […]
Santam’s current “best estimate” of its gross exposure to the KwaZulu-Natal floods in April is R3.2 billion. However, reinsurance cover will limit the net impact to about R500 million, it said in a […]
If you think that a “business as usual” approach is all that is required in the future, you are in for a rude awakening. In a recent media release, Andrew Coutts, the head […]
Santam, South Africa’s largest non-life insurer, has taken full control of Indwe Broker Holdings after acquiring the shareholding from African Rainbow Capital Financial Services and Sanlam. Before the transaction, Santam held 24% of […]
The South African Insurance Association (SAIA) says the damage to infrastructure in KwaZulu-Natal as a result of the floods already exceeds R1.1 billion, which was the estimated cost of damage after the flash […]
Santam, South Africa’s leading non-life insurer, issued an “operational circular” on 15 March that could have a significant impact on commercial clients’ existing cover for business interruption resulting from extended cover for losses […]
Santam paid out R24.5 billion (2020: R21bn) in claims last year, the highest gross claims pay-out in its 104-year history, the country’s biggest short-term insurer said in its financial results for the year […]
Events over the past year, both locally and internationally, have shifted the focus on a number of material terms and conditions in policy documents. Pre- and post-Covid A media release published in November […]
The systemic nature of cyber risk provides intermediaries with an unprecedented opportunity to show-case their value to clients, Andrew Coutts, Santam’s head of Intermediated Distribution, told the recent InsureTalk18 online conference. It is […]
Possibly the single biggest pandemic issue affecting the short-term insurance industry was the contingent business interruption (CBI) controversy. At first, insurers denied liability, claiming that the lockdown was not an insured peril. It […]
Possibly the single biggest pandemic issue affecting the short-term insurance industry was the contingent business interruption (CBI) controversy. At first, insurers denied liability, claiming that the lockdown was not an insured peril. It […]
South Africa’s short-term insurance sector experienced a 28% fall in profit after tax (PAT) last year, from R8.3 billion in 2019 to R6bn, largely because of defaults on credit, an increase in net […]
South Africa’s short-term insurance sector experienced a 28% fall in profit after tax (PAT) last year, from R8.3 billion in 2019 to R6bn, largely because of defaults on credit, an increase in net […]
Santam announced today that it will settle valid claims for all commercial policies with contingent business interruption (CBI) extensions in addition to those covered by its Hospitality & Leisure division. This announcement impacts […]
Whilst the UK Supreme Court will deliver its judgment on the FCA test case on Business Interruption Insurance policy wordings tomorrow morning, South African insurer Santam commenced with a process for settling Covid-19 […]
The introduction of “execution of sales” as a method of making financial products accessible to the lower income section of the population may have arisen from noble intentions, but like the expression says, […]
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