Tag Archivesinsurance

Life Insurance

Policyholders and beneficiaries receive R458 billion in benefit payments from life insurers

Despite facing strong economic headwinds, South African life insurers honoured claims by policyholders and beneficiaries worth R458 billion in the year ended 30 June 2017. This represents a 9% increase in benefits paid when compared to the previous 12-month period. At the same time life insurers managed to grow assets by 2% to R2.7 trillion. […]

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‘Open architecture innovation’ will drive new growth for insurers

Aon plc, the global professional services firm providing a broad range of risk, retirement and health solutions, has launched its annual Global Insurance Market Opportunities (GIMO) report, which examines key areas of potential growth for insurers. (more…)

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MUA Insurance Acceptances discusses FNB bank vault thefts

Wealthy South Africans at risk of underinsurance

While the concept of underinsurance is usually associated with low income earners, there are an increasing number of risks faced by wealthier South Africans that they are failing to insure for, resulting in potential losses running into hundreds of thousands of rand.  That is the view of Dawie Loots, Chief Executive Officer (CEO) of MUA […]

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Marike Van Niekerk1

How third-party motor insurance works

Approximately only a third of the vehicles on the South African roads are currently insured, according to the Automobile Association of South Africa (AA). This poses a huge risk to those motor vehicle owners who only have a third-party motor insurance policy in place because there is about a 65% chance that they will not […]

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Fires cost SA businesses millions annually

South Africa loses millions of rand to fire each year. The past fire season has seen thousands of people displaced from their homes as a result of fires in the Knysna area while acres of vineyards were destroyed in the Western Cape in January, decimating revenues within the wine industry. (more…)

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Samantha Jagdessi, Head of Benefits Consulting at Old Mutual Corporate Consultants.

Don’t be left underinsured on group risk benefits

After each job promotion at work, you increase your retirement contributions – and as your family grows, you remember to update your beneficiaries included in your death cover. But have you ever considered updating your disability cover to reflect your current lifestyle needs? This is a question posed by Samantha Jagdessi, Head of Benefits Consulting at Old Mutual […]

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Insurance solution

Insurance market favourable for cell captives and UMAs

At the 2017 Insurance Conference (IISA) held at Sun City recently, Peter Jennett, chief executive officer of leading specialist insurer, Centriq Insurance, said the cell captive insurance model is going strong despite tough market conditions and ongoing regulatory challenges. (more…)

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Saks Ntombela

Hollard Insurance Group appoints Saks Ntombela as CEO

The Hollard Insurance Group, South Africa’s largest independent insurer, has appointed Saks Ntombela as Group Chief Executive Officer. Ntombela will assume the role on 1 October, taking over from current CEO, Nic Kohler, who announced in January that he would step down after 10 years at the helm. (more…)

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