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PPS ‘disappointed’ by 12% decline in new life and risk insurance business
The allocation to members’ Profit-Share Accounts soars from R620 million to R4.54 billion thanks to strong investment returns.
‘Lack of maintenance or wear and tear’ gave rise to most of the disputes in several categories of insurance.
Read moreThe allocation to members’ Profit-Share Accounts soars from R620 million to R4.54 billion thanks to strong investment returns.
The group’s after-tax profit from its insurance business increased by 12%, with its funeral plans now covering more than 12 million lives.
Life insurance payouts rose in 2023, while Covid-19 claims fell sharply, indicating the virus’s shift from pandemic to endemic status.
Old Mutual provides context to the Molefi complaint, and how the group is planning to address the alleged non-payment.
All eyes are on the group’s pan-African joint venture with Allianz, to see whether it will mirror the achievements of Sanlam’s interests in India.
The deal is anticipated to enhance Sanlam’s competitive standing in the retail mass market.