South Africans are facing tough economic times and are choosing to forgo insurance to cut costs The insurance sector showed overall positive financial results for 2015, but it is uncertain which this trend will continue in 2016, according to the KPMG South African Insurance Industry Survey. Gerdus Dixon, Director and […]
Insurance
Chinese buyers target foreign insurance companies
Chinese buyers looking for overseas acquisitions are now adding a new item to their list of potential takeover targets, – insurance companies, the Wall Street Journal reported Tuesday. Three leading bidders for Singapore-based Asia Capital Reinsurance Group Pte Ltd all obtained capital support from China, the journal said. Foresea Life […]
FCA Says, U.K. Insurers Are Failing to Supervise Salespeople
FCA will write to chief executives demamding better oversight More than half of companies were not clearly managing risks The Financial Conduct Authority will write to chief executives of U.K. insurers after it found “widespread” evidence that companies are failing to supervise external salespeople. More than half of the companies […]
NFL notebook: Former player sues Lloyd’s of London over concussion insurance claim
A former NFL player who suffered what the league deemed a career-ending concussion has sued insurer Lloyd’s of London for denying a $1 million insurance policy for professional athletes. The lawsuit, filed this week in North Carolina, could become a test case for insurers dealing with the emerging fallout from […]
Zimbabwe: Minimum Capital Limits for Insurers to Rise
Insurance companies will soon be required to top up their minimum capital thresholds by between 66 and 150 percent as the Insurance and Pension Commission (IPEC) moves to enforce the new minimum capital requirements that were announced by Finance Minister Patrick Chinamasa in the 2016 National budget statement. Minister Chinamasa […]
Swiss Re acquires 25 percent stake in Leadway Insurance
Leadway Assurance Company Limited has announced that Swiss Re has purchased a 25 per cent stake in the company. Leadway Managing Director Mr Oye Hassan-Odukale made this known in Lagos. According to him, the acquisition of shares by Swiss Re marks the beginning of a new chapter in the firm. […]
Sovereign Trust Insurance holds AGM
Leave a comment and share Chuks Udo Okonta Sovereign Trust Insurance (STI) Plc having been granted approvals for its 2015 annual reports and accounts by the National Insurance Commission (NAICOM) and the Nigerian Stock Exchange (NSE) is set to host the 21st edition of her Annual General Meeting (AGM)on August […]
Group wants stringent claims rules in policy documents
Chairman NIA, Eddie Efekoha Leave a comment and share Chuks Udo Okonta A group of insurers have canvassed the use of warranties as against clauses in insurance policy documents to enable operators take definite actions in the event of breach by the insured. The Fire Office Committee of the Nigerian […]
South African insurer Discovery launches wellness programme in Japan
South African insurer Discovery Limited said on Thursday it will launch in Japan its behaviour tracking programme, which rewards health and life insurance clients for healthy lifestyle choices and helps track their fitness. Discovery gave no financial details about the deal which sees it team up with life insurer Sumitomo […]
Smart cars could bring new challenges for traditional motor insurers
LONDON: As Internet -connected and, eventually, driverless vehicles roll off production lines, traditional motor insurers need to adapt to ward off competition from car manufacturers. Insurers have struggled for years to make a profit from motor insurance due to intense competition and a rising tide of fraudulent claims. Now they […]
