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June 1989
Market at a glance

Ever wondered how your insurance premiums compare with those of the opposition? If your broker subscribes to Compuquote, he’d be able to tell you in a flash.
Compuquote is South Africa’s first comparative computer quotation system for the...

June 1989
Higher risks

Munich Re has again presided a study of the most significant natural hazards and their impact on the insurance industry A disturbing facet of the report is the high concentration of valuable assets in certain areas and the resulting costs when...

June 1989
How it works

The majority of motorists are aware of the existence of the knock-for-knock agreement between insurance companies. But very few know how it operates. This is because it is a private arrangement between the companies and, it used correctly, does...

June 1989
Don’t get caught short

How do you see yourself when you retire? You’ll probably be a lot worse off than you think.
According to Southern Life’s AGM marketing, Peter Atkinson, only 9% of people realise their retirement dreams, the rest have to settle for less. The...

June 1989
Unions and lump sums

A major development in retirement provision in South Africa today is the involvement of black trade unions. They have brought on the establishment of provident funds which have seen an ongoing conversion from pension funds to provident funds to...

June 1989
Through the assurance maze

Much is said about the benefits of having adequate life assurance. With inflation chipping away at savings, it is becoming essential to provide for a secure future. Life assurance offers a special service in that it not only assists in a...

June 1989
Training now a priority

The message came loud and clear: if the local marine market is to survive, roll up your sleeves and get down to training recruits in the practice of marine insurance.
The Marine Education Forum, set up by the Association of Marine...

June 1989
Record pass rate

The Institute of Life and Pension Advisers (ILPA) succeeded in reaching an important target when more than 1 000 candidates passed the Institute’s qualifying examination.
Outgoing president, Paul Clipsham, said that this was a significant...

June 1989
The day is never done

In South Africa, the differences among institutional investment managers in the approach to their jobs are probably greater than they are in the United States and the United Kingdom. Overseas, no single set of investment managers dominates the...

June 1989
Paper plane

According to Eugene de Villiers of Concorde Travel, the rand’s dismal performance against overseas currencies makes insurance for South Africans travelling abroad a must. Mr de Villiers notes that for an outlay of as little as R130 for a three...

June 1989
Restoration saves

Write off, or restore? This question faced assessors called out to the new Midrand headquarters of the Development Bank of South Africa where R 1,8m worth of electronic office equipment had been damaged. Most of the equipment was stored on a...

June 1989
Feel the quality

Although life assurance is a long term investment option, the performance of the Johannesburg Stock Exchange (JSE) last year must have given assurer’s investment performance a boost - that is, if they invested in quality shares.
In the most...

June 1989
Fiddling with fidelity

Ever since a major packaging company faced a huge forex loss in 1985 insurance companies have been wrestling with their fidelity guarantee covers. The company claimed R16,2m from its insurers in respect of a foreign exchange loss. The loss arose...

June 1989
Holding its own

Much speculation has surrounded the “better than the Joneses” rivalry which exists between the country’s two major life offices, Old Mutual and Sanlam. When Sanlam’s results for the 12 months to end September 1988 were released, the Bellville-...

June 1989
Passion for people

After 24 years in the industry Brian Seach will succeed John Bull as MD of Aegis Insurance on July 1st. His insurance career started after one year in the air force. Mr Seach decided to quit and joined Norwich Union where he worked himself...

June 1989
Don’t get caught

Many South African households are underinsured by as much as 25%. This is largely as a result of the impact of the recently introduced import surcharge on the cost of many household items.
In their in-house newsletter, GA Review, General...

June 1989
Sales talk

It’s not unusual to hear complaints from the public about life assurance agents and brokers. But is it all one-sided? People responsible for selling life assurance policies also have their problems. And these start with the first telephone call...

June 1989
Mobile cover

How should you insure your goods when moving to a new house? Although removal companies claim to be careful when goods are being packed and unpacked and in transit, the chance of something going wrong is pretty high.
To ensure adequate cover...

June 1989
Fine figures

The recent release of African Life’s financial figures for the year ended March 1989 confirms its position as the fastest growing life office in the country in terms of recurring premium new business.
The year was also the most successful in...

June 1989
Insurance shares hold their own

Life assurance is generally regarded as one of the most effective investments mediums available to today’s consumer. Although short term insurers are not in quite as favourable position, the services they offer protect policyholders’ wealth....

June 1989
Optimum idea

Optimation, representatives of London- based EL Computers, has launched a new insurance software package aimed at brokers called Premium.
According to the company, “Premium is a fully comprehensive computer system and is suitable for...

June 1989
Is the party over?

The recent release of results from short term insurers have shown some spectacular increases in underwriting profits. Although the companies reviewed in our table enjoyed an average improvement in underwriting surplus on the previous year of 93.7...

June 1989
Really SA’s biggest

It was January 311989 that the Sasol 3 fire resulted in South Africa’s single biggest loss ever, where it was originally estimated at R400m, however, now put at R 1 37m. But now there is a new contender, and it’s still Sasol.
Occurring on...

June 1989
Quality not quantity

It’s unusual to find an insurance company which targets its development on quality of business rather than sheer growth. In line with market trends, short term insurer Hollard’s unaudited figures for the year to end March 1989 show increases in...

June 1989
Insure adequately

Think back. When you took out your householder’s policy, did the insurance salesman ask you to fill out an inventory form to ascertain the correct value of goods in your house? Probably not.
This oversight could cost you a bomb when you can...

June 1989
Pleasing consumers

In a move which should please consumers, the South African Insurance Association (SAIA) has appointed an ombudsman for the short term industry. The announcement of the appointment was made by chairman of the Association Ken Saggers who said, “The...

June 1989
A new endowment generation

Southern Life recently announced the start of its journey into the third millennium with the launch of two unique life assurance products.
According to Peter Atkinson, AGM life marketing at Southern, Education Provider and Family Provider...

June 1989
Set for growth

Anglovaal, one of the last conglomerates to move into the financial services industry, has acquired a 41,6% stake in AA Life for R30m. Judging by AA Life’s performance over recent years, the investment should prove a wise one. In the space of...

June 1989
Crime explosion expected

The current short term insurance soft market may be over sooner than many expected. Economic factors indicate an imminent downswing, which almost inevitably brings higher unemployment and a rise in crime rates.
Sanlam s chief economist,...