
Pandemic pricing pains catch up with medical schemes – higher contributions ahead
Three medical schemes fell below the 25% solvency threshold in 2023.
Three medical schemes fell below the 25% solvency threshold in 2023.
As the KwaZulu-Natal government scrambles to keep Ithala afloat, its urgent request for a R2.4 billion loan from National Treasury sparks confusion – especially given an earlier government guarantee.
A PA-commissioned solvency report questions Ithala’s financial health, raising concerns about its equity, loan book, and potential shortfall in repaying depositors.
Ithala accuses the appointed repayment administrator of overstepping his authority, while the Prudential Authority moves to liquidate the entity.
ASISA advises consumers to take a holistic view of their finances and avoid hasty decisions that could leave them unprotected.
While Ithala remains operational for existing clients, the search for a new sponsor and regulatory hurdles pose significant challenges.
DHMS provides an update on the impact of the WELLTH Fund and membership movements following the consolidation of the Comprehensive series.
In 2022, the industry saw a net income of R2.57 billion – down from R12.18bn in 2021 – and faced an operating deficit of R6.155bn, the largest in 23 years.
Notifications