Tag ArchivesASISA

Policyholders and beneficiaries receive R63.7bn in death, disability and critical illness payouts from life insurers

South African life insurers paid R63.7 billion to individuals who had experienced death, disability or a severe illness in their family circle in the 12 months ended June 2018. This marks an increase of more than R6.3 billion from the previous 12 months to the end of June 2017. (more…)

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Living annuity drawdown rate remains stable at 6.6%

Living annuity policyholders managed to keep the average drawdown rate practically unchanged at around 6.6% for two years running, despite a steep rise in the cost of living in South Africa over this time. The 2017 Living Annuities Survey compiled by the Association for Savings and Investment South Africa (ASISA) shows that living annuity policyholders […]

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Isaac Ramputa

Black business growth funding a win-win for financial sector black empowerment

The financial sector has four months left in which to shore up ownership and empowerment financing scores for 2018 against the targets of the Amended Financial Sector Code (FSC) by making use of the new alternative option of channelling funding to black owned enterprises in line with the FSC’s Black Business Growth Funding (BBGF) provisions. […]

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Local CIS industry grows investor assets to R2.3 trillion

Investors committed a healthy R26 billion in net inflows to the local Collective Investment Schemes (CIS) industry over the quarter ended June 2018. The CIS industry is the custodian of R2.3 trillion in assets belonging to ordinary South Africans. (more…)

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Life Insurance

Life insurers paid 99.3% of underwritten life policy death claims last year

Life insurers paid 99.3% of all claims against fully underwritten life policies last year, resulting in benefit payments of R14.4 billion to beneficiaries following the death of a loved one. Fully underwritten life policies are only issued if the policyholder has completed a full underwriting process, which involves a comprehensive assessment of the life insured’s […]

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ASISA: A tough first quarter for local collective investment schemes

The local Collective Investment Schemes (CIS) industry reported a 3.2% drop in assets under management for the first quarter of this year as a result of difficult market conditions and subdued net inflows on the back of bruised investor sentiment. According to the CIS industry statistics for the quarter and year ended March 2018, released […]

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ASISA finalises standardised cost disclosure for umbrella funds

Employers will find it much easier to select the most cost effective umbrella retirement fund solutions for their employees from March next year when the new ASISA Retirement Savings Cost (RSC) Disclosure Standard comes into effect. The new RSC Disclosure Standard commits members of the Association for Savings and Investment South Africa (ASISA) to present […]

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Policyholders and beneficiaries receive R469 billion in benefit payments

  South African life insurers injected R469 billion into the economy last year through benefit payments to policyholders and beneficiaries. Total benefit payments increased by an inflation beating 10% from 2016. (more…)

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