Compliance reports don’t have to be submitted this year
The FSCA has decided that compliance officers or FSPs will not have to submit compliance reports this year. This was also the case from 2019 to 2021. This was one of the announcements […]
Author: Moonstone Information Refinery
People’s expenses change in retirement. Shouldn’t their income too?
Conventional wisdom says that living expenses rise uniformly with inflation, so many financial plans are based simply on that. But analysing the spending patterns of retirees shows us that the data tells a different story.
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FSCA reissues exemptions from competency requirements for certain licence categories
In February, the FSCA published FSCA Communication 4 announcing that it is exempting FSPs, key individuals and representatives who operate in the credit life and funeral insurance space from some of the Fit […]
Allianz and Sanlam in African joint venture
Sanlam and Europe’s largest insurer, Allianz, have agreed to combine their operations across Africa in a joint venture that will house the business units of both companies in the African countries where one […]
Discovery launches Shari’ah-compliant medical scheme arrangement
Members of Discovery Health Medical Scheme (DHMS) will be able to elect to have their health plan administered in accordance with Shari’ah principles from 1 June. It said South Africa’s first Shari’ah-compliant medical […]
CMS training webinars for healthcare brokers in May
The Council for Medical Schemes (CMS) will host two-day training webinars for healthcare brokers in May. There will be a compulsory assessment on the second day of the webinars. The sessions will cover […]
FSPs given until the end of May to complete crypto assets survey
The FSCA has given FSPs until 31 May to complete an electronic survey of their crypto-asset-related activities. The purpose of the survey is to assist the FSCA in obtaining a better understanding of […]
Former Land Bank Insurance head takes over at Sasria
The South African Special Risk Insurance Association (Sasria) has appointed Mpumelelo “Mpumi” Tyikwe as its new chief executive, effective 7 April. Outgoing incumbent Cedric Masondo, whose term ends in May, is set to […]
Expert’s findings unreliable in dispute over damaged pump
The Ombudsman for Short-term Insurance (Osti) ruled that an expert’s findings on which the insurer relied to reject a claim were unreliable. The policyholder submitted a claim for storm damage to his jacuzzi’s […]
KeyHealth no longer under curatorship
The Gauteng High Court has lifted the curatorship of KeyHealth Medical Scheme, and the board of trustees was authorised to manage the scheme from 5 April. Council for Medical Schemes (CMS) chief executive […]
Inseta extends discretionary grant funding deadline
Inseta has extended the deadline for companies in the insurance and related sectors to apply for discretionary grant funding for 2022/23 from 31 March to 13 April. Applications will be accepted at Inseta’s […]
‘Geopolitical tensions shouldn’t mean diluting your offshore exposure’
Diversification, including offshore diversification, and other basic long-term investing pillars should not be disregarded because of volatility caused by geopolitical events, says Kondi Nkosi, the country head of asset manager Schroders in South […]
Death claims surge 53% during Covid-19 third wave
South African life insurers reported a 53% surge in death claims between 1 April and 30 September 2021 compared to the same period in pre-Covid 2019, according to statistics released by the Association […]
Life insurers ‘well capitalised’ despite paying out R608 billion in 2021
Policyholders and beneficiaries received claims and benefit payments worth R608 billion from South African life insurers in 2021, the highest paid in a single year, according to statistics released by the Association for […]
Mining shares push JSE higher in February
While most major global markets ended in the red, mining sector stocks drove the FTSE/JSE All Share Index 2.4% higher in February. The Alsi is up 3.2% so far this year. Diversified miners, […]
Numsa: Was report a factional attempt to cause panic?
The National Union of Metalworkers of South Africa (Numsa) has noted the article published by James Stent in GroundUp and the article written by Micah Reddy of amaBhungane. The articles are making reference […]
Political messaging, juggling spending demands, and the outlook for SA bonds
Jeff Schultz, senior economist at BNP Paribas South Africa, provides the following perspective on the Budget. He discusses: What the ANC hopes the Budget will achieve politically. The outlook for government revenue and […]
