• Sharebar
May 2008
Is it worth it? Yes, but……….

The Life Offices’ Association (LOA) and the South African Insurance Association (SAIA) welcome the release of the Consumer Credit Insurance Enquiry Report by the independent panel of enquiry jointly appointed by the...

May 2008
Personal insult

The United States Federal Trade Commission estimates that up to nine million Americans have their identities stolen each year. Similarly, the US Justice Department estimates that up to 3.6 million households are...

May 2008
Breathing a sigh of relief

Everite Limited has welcomed the publication by the Department of Environmental Affairs & Tourism of regulations banning the use of asbestos and asbestos containing materials (ACMs).

Excessive...

May 2008
Prime suspect

The 9th rate hike in two years means the prime rate has risen by 43% from 10.5% to 15%. FNB Chief economist Cees Bruggemans says this is likely to damage the growth rate of both our economy and our non-mining company...

May 2008
Risk reward

It’s Buffet who says “I’d rather have a lumpy 15% return on capital, than a smooth 12%.” As the world’s best investor he understands the impact of compounding higher numbers and hence has a high risk portfolio. The...

May 2008
Conflict of interest

The Ombudsman for Short-Term Insurance launched its Annual Report for 2007 and announced the winner of its prestigious Isabel Jones Ukusizana Award in Johannesburg late March.

Last year saw R84 million...

May 2008
Model costs

Against the backdrop of a national savings crisis coupled with increasing complexity of products, the knowledge gap between consumers and the financial issues that affects them seems to be widening.

But...

May 2008
A case of fair play

The Small Claims Court deals with cases where people wish to make claims against anyone, including companies, corporations, municipalities or other entities within the area of jurisdiction of the court. A person under...

May 2008
Patients’ hysteria

That private hospitals have reacted so quickly and so strongly to the proposed National Health Amendment Bill is not surprising, says Neil Nair, fund officer of worker-controlled SAMWUMED medical scheme.

...
May 2008
More clarity

Profits from the disposal of shares to which section 9C of the Income Tax Act applies will be subject to capital gains tax, and not income tax. The rate of capital gains tax is favourably lower than that of income tax...

May 2008
Good 2007

For the first time in the history of the South African long-term insurance industry, individual policyholders paid more than R100-billion in premiums for life and disability insurance and savings policies in 2007....

May 2008
Trustee questions

Speaking at an Old Mutual Actuaries and Consultants function in Johannesburg in March , Rob Rusconi, independent researcher and consultant, presented his recently released retirement fund industry discussion paper...

May 2008
Removing the cap

More than 6%* of South African workers become disabled before retirement age and rising inflation should be a major source of concern for them. While employees will expect their employers to provide some financial...

May 2008
Avoiding a case of ‘affluenza’

CEO of acsis Andrew Bradley has taken a critical look at the services offered by financial planners and believes changes are needed in the way they understand their clients and the motives behind their financial...

May 2008
Reputation travels well

The hospitality industry is increasingly being exposed to a number of new risks which fall out of the ambit of the traditional risk pool.

The ‘traditional’ types of risks, such as high energy costs,...

May 2008
Good for business

The reported stance by the Minister of Finance, Trevor Manuel, on the potential changes to the tax policy is good news. Comments Johan Troskie, Director – Deneys Reitz Tax Services, “It is an economic fact that...

May 2008
Discussion paper released

National Treasury has released a discussion paper on The Future of Micro-insurance Regulation in South Africa. The deadline for public comments is 31st July 31, 2008.

FinMark Trust believes that if the...

May 2008
That’s your lottery

Well, it’s no more ‘a million a month’ for FNB clients.

This follows a Supreme Court of Appeal ruling on 28th March 2008, which upheld a High Court ruling that FNB’s Million-a-Month Account savings...

May 2008
Hungry huff

Global food prices have risen 140% between the period January 2002 and January 2008. A major reason is the alternative use of corn. In the United States by the end of last year 25% of corn production was now being...

May 2008
Don’t panic

The life industry is concerned over the confusion felt by many South Africans regarding the government’s proposed overhaul of the retirement fund industry in 2010.

David O’Brien, who heads Old Mutual’s...

May 2008
Disciplined approach

Lloyd’s has announced a profit of £3,846 million for 2007, compared to £3,662m the year before. Its combined ratio was  84.0% (2006: 83.1%), which it says compares favourably with an estimated average of 93.8%...