Asisa urges policyholders to explore all options before giving up their risk cover
Statistics for the first half of 2023 show a high number of lapses and surrenders as consumers are squeezed by the cost of living.
solvency capital requirements
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Asisa red-flags high number of policy surrenders and lapses
Policyholders and beneficiaries receive claims and benefits payments worth R578 billion in 2022, the second-highest paid in a year.
Hard-pressed consumers forgo life and disability cover
Consumers not only bought fewer risk policies in the first six months of this year but also lapsed a higher number of policies, which is in stark contrast to the same period last […]
Auditor accused 3Sixty managers of ‘constructing evidence’
With new acting CEO Khandani Msibi at the helm in 2021 it might have seemed that the problems plaguing 3Sixty Life, the insurer owned by the National Union of Metalworkers (Numsa), would be […]
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 […]
How Numsa’s life insurer went insolvent
In September 2020 the cracks in the finances of 3Sixty Life, the life insurer wholly owned by the National Union of Metalworkers of SA (Numsa) through the Numsa Investment Company, started to show. […]
