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October 2000
Way ahead of target

Mutual & Federal’s new all-in-one short-term insurance for farmers, Farmsure, is exceeding all new business targets. The company’s first major foray into the agricultural sector has resulted in new business gains...

October 2000
Disconnected

Talk about hackneyed phrases. “The impact of the Internet on …” is right up there! But, to be fair they (the anonymous group of academics and philosophers of note) do say that ‘A cliché is a cliché because it is true...

October 2000
Indistinct?

Despite the recent ruling the insurance industry is far from placated.

Caroline da Silva, executive with the South African Insurance Association (SAIA) says that the short-term insurance industry is still...

October 2000
Capital protection

“Many South African investors have the bulk of their assets invested domestically and cannot afford capital losses,” says Cobus du Plessis, head of SP2 marketing. “Although equities tend to give positive real rates of...

October 2000
Benchmark challenger

Liberty Multi-Manager has recently introduced an international fund of funds, the ‘LM-M International Fund of Funds.’ It invests in a broad spectrum of blue-chip international stocks, and most of its holdings are...

October 2000
Choice idea

Investors can now combine a private equity portfolio with a retirement fund or investment linked life annuity, following the launch of the Sanlam Personal Portfolios’ (SP2) Direct Equity Option. “For the first time,...

October 2000
Wrap funds

Sanlam Personal Portfolios (SP2) says it has recently concluded a distribution agreement with OptiVest Plexus. This adds a second experienced and highly regarded investment partner to its existing Gensec Asset...

October 2000
More for less

Sanlam Personal Portfolios (SP2) recently introduced a new initial fee structure that can provide substantial cost savings for investors who consolidate their investments under the company’s umbrella. Initial fees on...

October 2000
Ample capacity

Sanlam has added another foreign unit trust, the International Fund of Funds, to its range of products and reports that its foreign funds still have ample capacity, as generated with assets swaps. It says that of the...

October 2000
Going for leverage

Since the days of early grain futures contracts the markets have expanded to include all major and minor commodities, foreign currencies, stock indices and interest rate futures contracts. For example, futures...

October 2000
Serving diversity

Fedsure Group Benefits is offering a series of Categorised Investment Choice portfolios to cater for the investment needs of defined contribution retirement fund members. Clients may choose to invest their monies in...

October 2000
Easy way to pay

ABSA, in association with the JD Group, has launched a credit card with a difference. It is still a Mastercard, but clients will be required to make a R1 000 deposit in order to open the account.

Eric...

October 2000
Inflation issue

According to Mathew Lester, Professor of Taxation at Rhodes University, there are two principle problems with CGT, namely:

• The cost of collection of CGT is very high
• Capital gains are very often...

October 2000
Like it or lump it

Panic set in when Finance Minister Trevor Manuel announced in this year’s February 22 budget that Capital Gains Tax (CGT) would be introduced on the 1st April 2001. The announcement was initially greeted with stunned...

October 2000
Wake up

Tougher, new accounting standards are on the way for health care companies, and they need to act now to avoid serious financial implications for their businesses. This is the view of NMG Consultants & Actuaries,...

October 2000
A foot in each camp

“Within five years, the traditional concept of a ‘bank’, an ‘insurer’ and a ‘broker’ will have all but disappeared. The dominant competitors will be new mega-players that have understood this fundamental shift in...

October 2000
Broker opportunities

In the healthcare business intermediaries face numerous challenges, including calls for increasing disclosure, greater complexity of products and services, and increasing competition.

However, Adrian Gore...

October 2000
Network ideas

Sanlam Employee Benefits (SEB) has experienced a dramatic growth in the number of clients participating in multi-national risk pooling. This is largely attributable to the re-integration of South Africa into the...

October 2000
Disunion

The issue of who has a rightful claim to the approximately R80 billion in pension fund surpluses in South Africa, has been a talking point in the industry for some time.   Kobus Hanekom, senior manager,...

October 2000
Vehicle for growth

The Mineworkers Investment Company (MIC), the black economic empowerment investment arm of the National Union of Mineworkers (NUM), has entered the vehicle security market through a R1,5 million purchase of an option...

October 2000
Policyholder protection rules

STATUTORY NOTICE TO SHORT-TERM INSURANCE POLICYHOLDERS
IMPORTANT - PLEASE READ CAREFULLY
DISCLOSURE AND OTHER LEGAL REQUIREMENTS
(This notice does not form part of the Insurance Contract or any other document)
As a short-term...

October 2000
In for a shock

Have you any idea if your property is safely wired, or that there is no chance of a member of the family receiving an electric shock from a faulty installation? A company called Shockproof points out that all...

October 2000
Bad call

When you buy a cell phone on credit, or in terms of a rental contract, there is very often an insurance aspect involved. In some cases a monthly insurance premium is included in the rental instalment and it is not...

October 2000
Sense and nonsense

It is reasonable, I think, to refer to America as a ‘civilised society’. It certainly comprises the strongest, most powerful economy in the world. The dollar appears unassailable and no matter how much Americans...

October 2000
Protecting consumers

The Vehicle Security Association of SA (VESA) is very concerned about the unauthorised use of its much sought after certification of anti-theft devices. It says that over the last couple of years there has been a...

October 2000
Wary subject

One of the most frequent complaints from dissatisfied policyholders is that insurance companies offer them ‘inadequate monetary compensation’ when their vehicles are damaged beyond repair, or lost by theft or...

October 2000
Good progress

Sanlam’s interim results to 30th June 2000 show that the group is succeeding with its strategic objectives of growing its business, undertaking new initiatives and exploring opportunities, says the company....

October 2000
Out with complexity

OUTsurance, the South African short-term insurance company in the RMB Holdings group, has embarked on a data warehousing exercise to ensure its customer information is utilised to the maximum in providing service...

October 2000
Still not good

The major players in the short-term insurance industry are continuing to experience significant underwriting losses, according to the South African Insurance Association (SAIA).

Unaudited results released...

October 2000
Worldy wise?

Ten years ago there were 50 pages on the Internet, now there are 50 million, according to the BBC. And, with all this remarkable growth, one industry that seems reluctant to get involved is the insurance industry....

October 2000
Grounding to a halt

While Concorde remains grounded, Air France and legal representatives for the plaintiffs continue to haggle over compensation. Concorde Flight Number AF4590 crashed at Charles de Gaulle airport on July 25 killing all...

October 2000
Pension fund points

“If the good governance of retirement funds is to be achieved then the role and responsibilities of the principal officer need to be redefined and reinforced as current legislation does not take into account the far-...

October 2000
Debit facility

Sanlam has reached an agreement with Lloyds TSB Bank in the Isle of Man by means of which overseas bank accounts can be opened for clients. In exchange for this, Lloyds TSB Bank, one of the world’s biggest banks with...

October 2000
Guidelines

• Insurance products should not pay benefits on the basis of lists of services or procedures, i.e. linked to a tariff schedule such as CPT4, BHF or SAMA;

• Insurance products should not pay benefits on...

October 2000
Possible prescription

The Financial Services Board (FSB) and The Council for Medical Schemes have announced details of an agreement, concerning the demarcation between the business of a medical scheme and health insurance. Not everyone is...

October 2000
New face

Santam has reported reduced profits and earnings per share for the fire and storm ravaged six months to 30th June this year. It has also reported a half-year underwriting loss of R13 million, but expects business to...