Old Mutual life insurance sales continue to recover
Decline in mortality claims and lower client disinvestments and terminations.
Decline in mortality claims and lower client disinvestments and terminations.
According to a graph in this year’s Old Mutual Savings & Investment Monitor (OMSIM), 72% of respondents expect their financial prospects to improve over the next six months, whereas only 5% believe they […]
In its response to the High Court’s decision in the Living Hands matter, Old Mutual said it was concerned about the precedent that the judgment sets “for the rest of the financial services […]
Old Mutual paid out R21.2 billion in claims in South Africa last year, 51% higher than in 2020, according to its latest claims statistics report. “The significant increase in pay-outs of 51% bears […]
“Husband’s moles cost widow R2m,” screamed the headline. The article, which appeared in Rapport on 5 June, sketched the background to yet another claim refuted on grounds of non-disclosure. Background The client was […]
Old Mutual Insure (OMI) has received more than 2 200 claims related to the floods in KwaZulu-Natal in April. In a trading update published on 26 May, Old Mutual said reinsurance agreements would reduce […]
Momentum Metropolitan Holdings (MMH) and Sanlam are the only major life insurers in South Africa to have grown the value of their new business relative to pre-Covid levels, according to PwC. PwC based […]
The Financial Services Tribunal has ordered the Pension Funds Adjudicator to reopen a complaint against Old Mutual involving the alleged conversion of a policy to an annuity without the client’s consent. The Adjudicator […]
Absa Life has the most satisfied clients among the country’s major life insurers, according to Consulta’s latest South African Customer Satisfaction Index for Life Insurance. The index is based on a survey of […]
Old Mutual turned in a strong performance in the year to the end of December, despite the negative impact of Covid-19-related death claims, with the group’s retail segments paying some R13 billion in […]
From 1 January next year, Old Mutual employees will have to submit proof that they have been vaccinated against Covid-19. This follows similar announcements in September by Discovery Health and in October by […]
According to the just-released claim statistics by Old Mutual, the proportion of heart attack claims have increased by 113% since 2016, moving heart attacks from being the least claimed ‘Big 4’ illness to […]
“Tracking trends provides valuable insights into the current and future financial services needs of our customers.” This is one of the objectives of the Old Mutual Savings & Investment Monitor, an annual study […]
Last week was not a good one for the 172-year old Assurer. News of a rather embarrassing Ombud determination was followed by the news that unauthorised access was gained to some of its […]
Details of appeals against decisions by the FSB’s Enforcement Committee provide very interesting insight into the practical application of legislation affecting most of our subscribers. What makes it even more interesting is that […]
Board Notice 273 of 2013, published in December last year, provides details of an exemption granted to certain Old Mutual representatives in respect of the experience and qualification criteria applicable to: Collective investment […]