Covid-19 has had ‘a significant impact’ on the life insurance industry, with sharp increases in retrenchment claims, death and funeral claims, and disability income claims for people booked off work for a few weeks after contracting the illness.
The Financial Sector Conduct Authority (FSCA) has today issued a statement noting with concern the high premium increases that are being implemented by insurers on funeral policies.
Momentum Metropolitan today stated that it is in the process of finalising its results for the 12 months ended 30 June 2021 and expects its profits to dip by between 50% and 70%.
Africa’s largest non-banking financial services group, Sanlam together with Africa’s largest telecommunications operator, MTN Group today announced a partnership which the two described as an exclusive strategic alliance (the Alliance) to distribute…
The latest South African Customer Satisfaction Index (SA-csi) for Life Insurance (2020) conducted by Consulta through an in-depth survey of how satisfied customers are with their life insurers over the last year has revealed South Africa’s best…
Standard Bank Group (“SBG”) is proposing to buy 100% of Liberty Holdings Limited (“Liberty”) and to integrate Liberty more closely into the greater group
Liberty Holdings today issued a statement announcing that it is in the process of compiling its results for the six-month period ended 30 June 2021.
The board of directors (“Board”) of Old Mutual is pleased to announce that Old Mutual will, subject to obtaining all requisite regulatory approvals, including Prudential Authority approval, unbundle a portion of its shareholding (“Nedbank Stake”)…
Old Mutual joined forces with leading healthcare provider Netcare to open a private vaccination centre at the insurer’s campus in Pinelands, Cape Town
Sanlam, Africa’s largest non-banking financial services group, today announced that it has reached an agreement to buy the group risk and retail life business of Alexander Forbes Life Limited (AF Life).
Sanlam, Africa’s largest non-banking financial services group, today reported achieving a satisfactory performance in the first four months of 2021.
In 2020 Liberty took care of people like you, paying out R6.34 billion in claims to its individual clients under the flagship Lifestyle Protector product and legacy risk products.
Respiratory system disorder claims shoot up by 61% under total underwritten claims because of widespread infection.
Life insurers and reinsurers are making increased use of automation as they strive to meet clients’ needs for ease of use, product transparency, real-time assistance, and predictable claims and underwriting outcomes.
Insurance Biz is a New Africa Busines News Services (NABNS) publication launched in 2013 to focus on the insurance industry, investments, financial planning, employee benefits etc. It remains a great resource of news for industry professionals, and for those who seek to learn about the financial sector developments.
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