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September 2007
Sales trigger

With effect from 1st September 2007 property sales by non-South African residents will be subject to a new withholding tax. It is levied in terms of section 35A of the Income Tax Act.
The tax is imposed...

September 2007
Keeping it safe

I have used Norton in its various forms for many years. I remember in the good old days of DOS (disk operating system) — the bald precursor of the graphic user interface of Microsoft Windows. Norton Utilities was one...

September 2007
Fancy figures

An actuary might tell you that a man aged 36 next birthday has to pay R14,27 per month per R10 000 of basic life cover. Sounds quite scien¬tific. It’s worked out using the mortal¬ity tables, a few assumptions about...

September 2007
Good and bad……

In his address held in Sun City on March 2nd entitled, The new South Africa at thirteen, former President F W de Klerk imparted some fascinating and useful statistics.

According to the United Nations...

September 2007
Out of the ashes

Back in 2003 it had seemed like a good idea for three SA marketing organisations to join forces. They were the Direct Marketing Association, the Institute of Marketing Management, and the Association of Marketers, and...

September 2007
A tale of two cities

This is a tale of two cities: socialist Prague and post-socialist Prague – visited eight years apart. On my first visit in 1991, Prague was beginning to awaken from a long socialist Rip von Winkle slumber. It was...

September 2007
Future plan

Consumer inflation, as measured by the CPIX model, remained outside the SA Reserve Bank’s 3%-6% band for the third month in a row, startling the market, which quickly predicted yet another interest rate rise was in...

September 2007
Brazil experience

Sales to foreign investors of free market properties can influence top end property prices, but have no effect on the affordable end of the market.

So says Barak Geffen, Executive Director of Sotheby’s...

September 2007
Ignore the wobbles

In the midst of the market turmoil clients and financial advisors are understandable getting a bit nervous.

“Is the market going up or down?” they ask. Some of them even went as far as asking PSG...

September 2007
Liable for poor advice

While reams of stuff have been written about the responsibility of brokers to provide the correct advice, there is one case in the UK that illustrates it clearly.

In the case of Arbory Group v West Craven...

September 2007
Normal freeze

Taking a contractor’s liability and building insurance while renovating a house is often the best way to stay fully insured. Because of the high risk involved during renovations, insurers are likely to freeze certain...

September 2007
Conditional selling worries

It is doubtful the provisions of the National Credit Act 2005 will curb the practice concerning compulsory insurance. Most lenders require some form of credit life to secure a loan in the event the borrower dies or,...

September 2007
Actuarial exercises

A two-part discussion about the various insurance needs of those partaking in sport, recreational pursuits and hazardous activities

When he skated down the snowy slope in just his shoes he was having a...

September 2007
Dread diseases

Heart attack, stroke, and cancer are just some of the diseases that have a high public awareness due to the dreadful physical, emotional and financial consequences.
The insurance market’s response has been...

September 2007
A phone call away

Once upon a time ordinary South Africans could wake up in the morning, fetch their milk and paper on the front porch, walk the dogs and let the children play hide and seek in the yard. No burglar bars, no security...

September 2007
Advice on strategy

An umbrella trust is created to protect children’s benefits, which is linked to a pension, provident or preservation fund, a retirement annuity or a group life insurance scheme. Recent incidents where widows and...

September 2007
Moving to advantage

Old Mutual’s learnership programme addresses one of the key challenges facing South Africa, which is the creation of skilled persons able to respond to the human resource demands of the country’s thriving economy....

September 2007
Enjoying growth

Santam says it enjoyed “an excellent first half”, in respect of both underwriting and investment income. Its headline earnings of R927 million for the six months of this year to 30th June were 59% higher than the same...

September 2007
Intec gears up

The 30 or 60 credits, as required by the Financial Advisory and Intermediary Services (FAIS) Act 2002, have been extended to December 2008. However, those financial advisers who have already obtained the required...

September 2007
Things ain’t what they seem to be……

Do you believe the figures from Stats SA – we know they’ve made mistakes before - and it is surely the case now with our inflation rate statistics?

The accompanying table shows the actual price increases...

September 2007
Bad for housing

After two days of debating the conditions in the international and South African economies, the Reserve Bank’s Monetary Policy Committee (MPC) eventually decided to raise its repo rate by yet another 50 basis points...

September 2007
All for one…..

The so-called ‘One Account’ facility where you put all your eggs in one basket, so to speak, is certainly very convenient and cost-efficient. Such accounts are becoming quite popular, although they are still only...

September 2007
Managing brokers

Santam plans to introduce a ‘new broker management model’ during the second half of this year.

Says Quinten Matthew, the company’s Head of Broker Services, “It has been designed to promote optimal service...

September 2007
Big drive for future growth

Munich Re of Africa (MRoA) posted strong underwriting results in the short-term and long-term segments of its business for 2006, an outcome that CEO Andreas Kleiner says reflects not only the overall economic health...

September 2007
Backing SA

The ACE Group of Companies has provided a R20 million capital injection into the ACE Insurance Limited South African operation to ensure that its balance sheet strength keeps pace with the organisations’ business...

September 2007
Shifting risk

We are becoming so beset by regulation that there is a tendency to think the existing regulators should control all aspects of the economy.

“There are good reasons why the Financial Services Board and its...

September 2007
Mostly equity

Retail investors stepped up investing in offshore funds in the June quarter with inflows more than doubling to R1,8 billion (R719m). This was against a background where total industry foreign fund flows for the...

September 2007
Growing up

Certain sections of the Children’s Act 38 of 2005 came into effect on 1st July 2007. The full Act will, however, only come into effect once the Children’s Amendment Bill is passed by Parliament and the regulations...

September 2007
Building a future

Over 18s can now legally deal in property following the introduction of new ‘age of majority’ law, which became effective 1st July 2007. This has important legal implications, especially in the property market where...

September 2007
Improving despite claims

Zurich Insurance revealed improved result for its six months to 30th June 2007, arising out of both better underwriting and investment performance. The results belie a period characterised by higher numbers, and...

September 2007
New appointments

Gross Premium Income increased 8% to R4,6 billion (2006: R4,3 billion), and the general insurance result improved from R281m to R320m in spite of a reduction in the underwriting ratio from 3,9% to 2,9%.

...

September 2007
Help at hand

If the terminology in your life or critical illness policy contract has left you confused, help is at hand. The Life Offices’ Association (LOA) has unveiled the first phase of its new web based ‘jargon busting’ tool...

September 2007
Global support

Zurich Financial Services Group says that, with effect from 30th June 2007, its majority-owned South African business, SA Eagle, will operate under the global Zurich brand. The registered name of the company will now...