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February 2001
Take a break

Most South African employees fail to make themselves financially secure because they’re working too hard earning a living. The solution, says employee benefits and financial services company NMG Consultants &...

February 2001
Unholy whole

The Life Offices’ Association (LOA) is seriously concerned about the fact that in the current draft of the Financial Advisory and Intermediary Services Bill (FAIS), many financial products are exempted, says Gerhard...

February 2001
Don’t get ‘FAISed’

Soon to be implemented legislation to regulate financial advisors and intermediaries to provide consumer protection will have a major impact on the way the South African insurance industry and brokers do business....

February 2001
FAIS benefit

Computer Science Software (Pty) Ltd has recently introduced a new software package called PROFIDA®, which is aimed at insurance brokers (both life and short term) and asset managers, who use it for the management of...

February 2001
Thoughts for trustees

Fund Trustees’ main objective is one of maximising returns within acceptable risk parameters. However, this is more easily stated than put into practice, as volatility in the investment markets makes real growth and...

February 2001
Company co-operation

Life assurers are beginning to co-operate in providing intermediaries with ‘instant online insurance information and related services’, with the three major companies, Liberty Life, Sanlam and Old Mutual, initially...

February 2001
Price reduction

Fedsure and Investec announced today that they had reached agreement on the price for the transaction whereby it has been confirmed that Investec will acquire the insurance and financial services businesses of Fedsure...

February 2001
Arguing over the leftovers

It is estimated that about 10% of total assets of the retirement industry — or some R80 billion — are ‘surplus’ to the actuarially assessed liabilities of pension funds. And the industry has been wrangling for some...

February 2001
I'll warrant

The inherent risks faced by corporations in mergers and acquisitions are now insurable.
Glenrand MIB has recently announced an extension of its range of products to cover risks inherent in the conclusion of corporate transactions without the...

February 2001
React cautiously

Capital gains are to be taxed in the hands of unit trust investors, says Emile Wessels, head of advisory services at Sanlam Personal Portfolios (SP²). This proposal is one of several significant changes to earlier...

February 2001
Simple redress

One of the difficulties about approaching the Ombudsman lies in the unfortunate fact that his procedure and method of operation inevitably cause delay.

Many complaints, especially those that involve a...

February 2001
Care less?

Michael Jackson may be considered eccentric for wearing surgical masks (it is one of his milder excesses, to be sure) — but he may have a point.

According to recent research 107 000 Salmonella bacteria...

February 2001
An arresting idea

When first hearing the word ‘warrant’, one is inclined to think of a nasty piece of paper issued for your arrest. But in terms of the stock market, however, a warrant is a medium to long-term option listed over a...

February 2001
Possible profit

UBS Warburg says it has issued its first tranche of equity stock warrants (on 29th January 2001), and adds that they are “regarded as a core product in global derivatives.”

Mario Lessing, director of...

February 2001
Hands-on

The increasing incidence of fraud, theft and corruption throughout the South African business community and the obvious inability of the police and justice systems to curb this growing trend, has spurred Credit...

February 2001
Worrying trend

Unit trust industry assets under management increased by 14,4% during the year 2000 to end at a record high of R128,4 billion, according to the Association of Unit Trusts (AUT).

This asset growth was...

February 2001
Cloaked in uncertainty

Having experienced a difficult year during which government bonds outperformed equities, investors are starting 2001 in a cautious frame of mind, says Prudential Portfolio Managers, in its latest Monthly Global...

February 2001
Better year?

After a dismal 2000, prospects for unit trust investors this year are looking a good deal brighter says Mick Joyce managing director of Old Mutual Unit Trusts.

“In the past year the stock market was hit...

February 2001
Hit from all sides

The effect of taxation on retirement funds continues to cause the industry concern. Despite representations, there appears little relief in sight, and indeed the situation could worsen, given the forthcoming...

February 2001
Taking a balanced view

Global financial markets have been extremely volatile over the last couple of years. This has led to great variability of returns both within, and between asset classes. This in turn has influenced pension savings,...

February 2001
Warning of volatility

Offshore investments continue to prove popular as returns exceed the majority of domestic equity funds over one year. However, investors should be cautious when investing their capital in offshore equities because...

February 2001
Another whinge

The introduction of a Capital Gains Tax (CGT) is a drastic move and the Life Offices’ Association (LOA) urges that all possible steps be taken to ensure that the end result is effective and that it can be introduced...

February 2001
Holding its own

Despite an inhibiting economic and investment climate, Sage Group’s South African business operations have made sound progress during the six months ended 30th September 2000, and its United States based life...

February 2001
No place to hide

White-collar crime costs the South African insurance industry approximately R1 billion a year. Such crime is rife amongst the big corporates — SA Eagle included.

It is self evident that white-collar crime...

February 2001
Not all bad for SA

Control Risks Group in its annual publication RiskMap 2001, gives a clear green light for foreign investment in South Africa.

Using a five-point ratings scale to measure political and security risk (...

February 2001
Bun fight

Last November saw some heavily loaded rates following the October renewal bun fight, notes Aviation Insurance Consultant, Henry Tours. He says that the average Hull rate has risen 15% for this year, and over 13% for...

February 2001
Warding off patients

There is a stand-alone private ward upgrade cover that has recently been made available by TELG Africa. The company is a Gauteng based specialist medical aid service company, which says its new product can be marketed...

February 2001
Positive growth

St. Paul Insurance Company S.A. Ltd. has announced pre-tax profits of R28 million in respect of its financial year ending 30TH September 2000. Revenues are up 35% and the solvency margin has increased to a healthy 142...

February 2001
Protection poser

Pension fund trustees need to look out for the proposed draft revision of Regulation 28 of the Pension Funds Act that aims to limit the actions of trustees to protect fund members.

Since the initial...