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July 2000
Worked up over workshops

Having dealt with airports, let us move on to things that are on the airfield – other than pilots. Workshops tend to be based at an airfield, as it is rather difficult to get the aircraft down the middle of Randburg...

July 2000
Pre-funding liability

The Medical Schemes Act, which came into effect on January 1 2000, has significant implications for the entire medical aid industry and, indirectly, for the pre-funding of medical aid contributions after retirement....

July 2000
Reclassification explained - 2

Asset Allocation funds are funds that invest in a wide spread of investments in the equity, capital, money and property markets to maximise total returns (comprising capital and income growth) over the long term....

July 2000
Take five

Following the success of previous offshore bonds, Barclays Offshore Services has launched issue five of its Guaranteed Stock Market Bond.

Available until August 18 the bond guarantees investors’ capital,...

July 2000
Making it easier

If beauty is in the eye of the beholder, then risk is in the eye of the investor. A risky investment by one person’s standards might be conservative by the standards of another.

This holds true in the...

July 2000
Careful choice

Sanlam Personal Portfolios (SP²) has launched two new investment funds for retirement and pension money. They are called the SP² Blue Chip Fund and the SP² Global Equity Fund, and were developed by Gensec Asset...

July 2000
Removing discrepencies

m3 Capital has announced that from June 1st 2000 it will move away from traditional net pricing to a gross pricing system on all multi-manager investment portfolios and wrap fund solutions housed under its life...

July 2000
Limited offer

Financial services group Liberty has launched a structured investment product, offering investors access to a basket of shares featuring some of the world’s strongest brand names.

Liberty global blue...

July 2000
Big easy

Sanlam Unit Trusts has recently launched a simplified investment package that is intended to make the acquisition of unit trusts easier and safer. The product is called ‘Big Easy’.
“We could see where the...

July 2000
Spreading options

Late May PSG’s global funds received approval and were registered by the Financial Services Board. Its global unit trusts are actually Mauritian-based, and are evidently the first be registered and marketed in South...

July 2000
Buying query

An independent research survey conducted by m3 Capital National Sales Manager, Mike Clare, as part of an MBA program, overwhelmingly concludes that the methods used by South African financial intermediaries (IFA’s),...

July 2000
Quick as a click

Global Solutions, a new multi-currency banking service, which includes international internet banking, opened for business in South Africa on May 30 by Barclays Offshore as part of a world-wide launch.

“...

July 2000
Broker survival

“If the independent healthcare broker is to survive, a new business approach is required,” says Steve Lyons, Chief Executive Officer of TELG Africa, a medical aid service organisation.

“The new Medical...

July 2000
Coming back to life

Fedsure Life, individual life division within the Fedsure Group, says it has re-instated non-vesting bonuses for Norwich Life Smoothed Bonus policies. These had previously been removed between July 1 1997 and...

July 2000
Finishing off

Structured funds

Structured funds are multi-manager type arrangements along the lines of those launched onto the market by TMA.
They are created as follows. A number of pre-defined wholesale...

July 2000
Party benefits

Edge Investments, a fast growing asset management company based in the Cape, has sold a 10% equity stake to Fedsure. Edge was only launched seven months ago, but has amassed some R3,5 billion in its top performing...

July 2000
Life industry begins to wake up

To assist consumers to make informed decisions when applying for or managing long-term assurance products, the life industry has launched an extensive consumer education programme through the media..

The...

July 2000
A right liability

It seems that we can’t avoid indemnity forms or disclaimer boards these days. Whether we are signing up for our child’s school outing, or parking our car at the local shopping mall, chances are that someone, somewhere...

July 2000
Foreign influence

Sage has appointed Investec Guinness Flight (IGF) to manage the domestic assets of its flagship unit trust, Sage Fund, as well as Sage Life’s Employee Benefit equity portfolios.

The appointment of IGF is...

July 2000
Guide to survival

Globalisation, the search for talent, industry consolidation, e-commerce and an increased focus on customers, products and services, are some of the strongest insurance industry trends for the new millennium. This is...

July 2000
Greedy doctors

It is estimated that fraud contributes to as much as 10% of the costs of providing healthcare in South Africa, says Mel Rom, MD of Fedsure Health Assurance.

”Members of medical schemes need to realise...

July 2000
A call away

Personal Health Advisor is a telephonic health care system that was developed in America in the early 80s. It has been introduced into South Africa by Access Health, and offers around-the-clock telephonic advice from...

July 2000
Growth factor

“The new Medical Schemes regulations which have stirred up such negativity in the marketplace may well prove to be a catalyst for unprecedented innovation and growth within the healthcare industry,” says Dave Avnit,...

July 2000
Time bomb

“The enormous liabilities in the healthcare retiree arena is a time bomb, quietly ticking away until it literally explodes on company balance sheets,” says Mel Rom, MD of Fedsure Health Assurance.

...

July 2000
Unfit

Deneys Reitz on insurance case law: Hollard Insurance V Leclezio 1999

When renewing a monthly policy; the insurer stipulated that, “we will not pay for any loss or damage should your vehicle be stolen...

July 2000
Harnessing help

Breakthrough technology built in South Africa by Uskotec could help to streamline the employee benefits sector by allowing administrators of retirement, pension and related funds to slash their largest single expense...

July 2000
Selling opportunity

Insurance industry legislation is facing another revamp barely a year after the enabling of the Short-Term Insurance Act 1998. Rumination over the role of brokers and, indeed, financial service intermediaries in...

July 2000
Lost and found

As part of its action to assist the South African Police Services (SAPS) to combat vehicle theft, the South African Insurance Association (SAIA) operates an informer reward fund on behalf of short-term insurance...

July 2000
Cheaper speed

Decillion Limited has recently introduced an Internet foreign exchange trading facility. Called Decillionforex.com, it provides clients with comparative forex prices, as published by several banks, and should afford...

July 2000
Fedsure and Norwich

Fedsure has declared a 9% bonus on its Deposit Administration Portfolio and the Norwich Life Smoothed Bonus Fund. This is divided into an income portion of 3,5% and a capital portion of 5,5%.
An income...

July 2000
Brand new

General Re Corporation announced a new, worldwide reinsurance brand strategy for its direct reinsurance business; and a new management structure for General Reinsurance Corporation and Cologne Re. Effective June 1...

July 2000
Fielding enquiries

Mutual & Federal says it is actively positioning itself to write “significantly more” business in the agricultural sector following the launch of its Farmsure all-in-one short-term insurance product for farmers....

July 2000
You are my Boe

NBS Life Assurance Company Limited has changed its name to BoE Life Assurance Company Limited, with effect from June 1 2000. It is a wholly owned subsidiary of BoE Limited and will complement the group’s integrated...

July 2000
Shop window

Rightly or wrongly, the only time people think they need an insurance company is when they have experienced a loss, and not before. Getting them to cough up premiums for something that may never happen, for a price...

July 2000
Difficult to establish

An industry-wide claims information sharing system will be introduced by the short-term insurance industry towards the end of this year, says Barry Scott, chief executive of the South African Insurance Association (...