The ruling underscores that disputes over unapproved disability claims underwritten by insurers through employer-held policies must be addressed with employers and insurers.
Santam will pay Sanlam Life R925 million to buy 60% of the A1 ordinary shares in NMS Insurance Services.
Ninety One will acquire Sanlam Investment Management and oversee investment management for Sanlam Investments UK.
The group’s new business volumes in life insurance grew by 12%, while net operational earnings rose by 17%.
In September, Sanlam received more than 83 000 withdrawal claims, with most coming from members aged 35 to 44, many of whom had a replacement ratio below 50%.
Sanlam’s Pink Tax survey found that 24% of women reported that pink tax affects their choices in selecting financial products, services, and providers.
King Price came out top in DataEQ’s latest Insurance Sentiment Index, which analyses what consumers are saying about their insurers.
Sanlam gained market share in individual underwritten life insurance, supported by strong single-premium growth and stable persistency in the affluent segment.
As the two-pot system rolls out, fund administrators are receiving a wave of withdrawal claims, highlighting the financial squeeze many are feeling.
Following its recent R6.5bn acquisition of Assupol, Sanlam wants to expand its footprint in the financial services industry with a 25% stake in ARC FSH.
Long-standing winners such as Western National and Santam retained their titles, while iTOO re-emerged as the Underwriting Manager of the Year.
The house, which belonged to the broker’s brother, was set alight after the sheriff served an eviction letter on the occupant.
The Sanlam Benchmark Survey also shows that more respondents are turning to online sources for product information instead of using a personal adviser.
MultiChoice plans to use the up to R2.7 billion cash proceeds from the transaction for working capital purposes.
The group’s 2023 claim statistics also note the steady increase in pay-outs arising from pregnancy complications.
The group believes its partnership with Shriram will enable it to benefit from India’s growing economy and burgeoning population.
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.
