Latest News & Developments
long term insurance
Insurance visionary and Steyn City founder, Douw Steyn dies at 72
Douw Steyn’s dream of building a city within a city materialised with the launch of Steyn City, a 2000 acre residential and lifestyle estate in northern Johannesburg.
Navigating uncertainty: insurance in the time of economic and geopolitical turmoil
The South African insurance industry faces compounding hurdles that demand adaptability and innovation.
Los Angeles wildfire economic loss estimates top $50bn
AccuWeather, which estimates the loss between $52 billion and $57 billion, added that if the fire spread to densely populated neighborhoods the current estimates for loss would have to be revised upward.
5 Stars: Online reviews are dictating purchases in the SA insurance market
The digital age has empowered consumers to share their experiences with brands to a much larger audience and, thanks to dedicated review platforms like HelloPeter, this is forcing brands to prioritise the customer experience like never before.
Stay covered this festive season - the essential role of Gap Cover in SA's holiday safety
It is a period marked by a significant rise in accidents and injuries, making gap cover an essential consideration for many South Africans.
Bidvest agrees to sell its bank to Nigeria’s Access Bank for R2. 8bn
“Bidvest will continue to support Bidvest Bank to ensure that it remains financially sound and operationally stable throughout the disposal process,” Mpumi Madisa, chief executive of the South African services, trading, and distribution group, said yesterday.
Sanlam reaches massive asset management deal with UK-based Ninety One
A total pool of assets of about R400bn (as of 30 September 2024) was expected to transfer to Ninety One.
Inside the shadowy world of loan sharks and South Africa's vulnerable
A new report has lifted the lid on how loan sharks are essentially holding Sassa beneficiaries hostage and there is nothing that can be done about it, legally.
Metropolitan Life and Shembe partner to boost ‘financial inclusion’ for black people
The partnership between Metropolitan Life and the Shembe Church introduces a funeral cover tailored to the unique needs of its members, promoting financial inclusion and community empowerment.
Claims data reveals unexpected expensive days
In its new advert, ‘Budget away expensive days’, Budget Insurance uses years of claims data to reveal which day of the week could be expensive for those who do not have insurance cover in place.
Sanlam’s local fortification strategy complemented with acquisitions continues to pay off
“The strategy to concentrate our efforts on fortifying our South Africa operations through leveraging our scale and competitive edge, alongside focusing on Pan-Africa and Asia where we already have robust market positions in rapidly growing economies, continues to position our business favourably,” he said.
Sanlam’s share price falls after deal to acquire a 25% stake in African Rainbow Capital Financial Services
Once the transaction is complete, ARC FSH will hold 100% of the shares in ARC FSI, together with its existing investments in TymeBank, AI Fund, CrossFin and Ooba.
Nonhlanhla Nxele - Old Mutual Black Distributors Trust participant makes history as first black woman to win FPI award
Nonhlanhla Nxele has been awarded the Financial Planning Institute’s prestigious “It Starts With Me” award.
Nonhlanhla Nxele - Old Mutual Black Distributors Trust participant makes history as first black woman to win FPI award
Nonhlanhla Nxele has been awarded the Financial Planning Institute’s prestigious “It Starts With Me” award.
Information Regulator report recommends release of insurance claims data
The 47 535 records the IR has recommended be released relate to 9 799 total complaints received in 2018, 10 376 received in 2019, 14 198 in 2020, and 13 162 during 2021.
Insurance ombudsman’s independence is questioned by forensic expert
Forensic expert Stan Bezuidenhout, who assists clients facing insurance repudiations, said he had sought data from the ombud scheme, but his request was met with “hostility and accusations”.
Death fraud claim: Woman ordered to pay a fine or go to jail
Lindeka Patricia Ntlokwinendaba was found guilty of defrauding Old Mutual and has been fined.
Top insurance considerations for up-and-coming entrepreneurs
While insurance might not be the most exciting step in building a successful brand, it could be invaluable when the unexpected happens.
Long-term insurance: Old Mutual paid out R14. 1 billion in claims in 2023
Old Mutual has announced that they have paid out on average R57 million in claims for every working day.
Keeping a healthy rapport with a client and insurance advisor ‘negates taking uninformed decisions on insurance products’
Insurance advisors conduct a client profile, identify risks, advise on emergency planning and recommend ways in which you can protect your assets and valuables.
3Sixty Life curatorship rolls on past deadlines amid mounting delays
3Sixty Life Group CEO Khandani Msibi says the group is contemplating having the current curator removed.
An Insurers guide to saving big on your car insurance
IOL recently spoke to car insurance experts at Budget Insurance to find out how South Africans can stay insured, and benefit from lower monthly premiums.
Sanlam share price rises on MultiChoice deal to expand in Africa
MultiChoice, which has subscribers in 50 countries in Africa, and which is currently being acquired by French global broadcaster Canal +, will use the cash proceeds from the deal for working capital purposes. Sanlam, which has becoming a pan-African insurance and financial services leading group as a core part of its strategy, already does business in more than 30 African countries
More younger customers investing in funeral cover, Standard Bank says
The data shows that at least a quarter of all its Flexible Funeral Plan policies are taken up by people between the ages 26 and 35.
Hanratty agrees to extend term as Sanlam head to 2027
Hanratty was appointed chief executive on July 1, 2020, and has been a member of the board since 2017. He has been a non-executive director of MTN since 2016, and is the non-executive chair of Intelligent Debt Management, an online search showed.