South African insurance company Professional Provident Society SA is set to enter Australia’s retail life insurance market with a focus on targeting professionals through the advice channel. According to a statement, the new business, PPS Mutual – to be headed by former Centric Wealth CEO Michael Pillemer – will look […]
Insurance
Pension and National Insurance hikes to hit academics hard
Extra contributions are likely to cost many university staff more than £1,000 a year, analysis shows By Jack Grove Thousands of university staff will soon see their take-home pay fall by about £100 a month when changes to state and occupational pension schemes take effect, an analysis has shown. Almost […]
Beauty Queen plans big for insurance
Miss Insurance 2016 winner Adaeze Okeke on Wednesday pledged that she would persuade Nigeria’s 170 million population to take up insurance policies before the end of this year. Okeke made the pledge on Wednesday when she paid a courtesy visit to Linkage Assurance Plc at Lekki, Lagos. She said that […]
Kenya lacks talent in insurance industry – EY report
By RICHARD MUNGA A large number of Kenyan insurance agents and marketers are unqualified holding back growth opportunities for the local insurance industry, according to EY’s study on insurance opportunities in sub-Saharan Africa. The report states the agents and marketers lack specialisation and sophistication in insurance products, leaving insurers to […]
Namfisa investigates Lewis for selling insurance
The Namibia Financial Institutions Supervisory Authority (Namfisa) says it is aware of complaints against South African furniture franchise, Lewis. Lewis has been accused of acting as an intermediary for products regulated by the Long-Term Insurance Act, while it is not registered under the Act to do so. Namfisa says investigations […]
Report ranks Kenya high as potential market for insurers
Kenya’s positive growth, rising consumer demand, population and new technology make it attractive for African insurance companies outside South Africa. This was revealed in a report launched yesterday by consultancy firm Ernst & Young (EY). The report titled Waves of Change: Insurance opportunities in Sub-Saharan Africa compares insurance markets in […]
Now that NAICOM, insurers are one
Members of the committee The inauguration of the Insurers’ Committee has brought the National Insurance Commission (NAICOM) and insurance operators on the same page to pave way for issues in the industry to be fully deliberated before implementation. Chuks Udo Okonta in this report examines the benefits of the union […]
A Canadian corporation is busting insurance fraud with social media
The Insurance Corporation of British Columbia (ICBC) is making extensive use of social media to find people who have made fraudulent insurance claims. Last month, Digital Journal reported the ICBC’s top insurance frauds of 2015 or its 2015 Hall of Shame. These consisted of false or exaggerated claims as well […]
Universal Insurance to host brokers
Okunoren Universal Insurance Plc is to host Insurance Brokers under the aegis of the Nigerian Council of Registered Insurance Brokers (NCRIB) on Tuesday, February 23, 2016 in Lagos. According to a release issued by the Public Relations and Communication Department of the NCRIB, Universal Insurance Plc would reap tremendous gains […]
South Africa’s Santam flags FY profit jump, shares rise
South African short-term insurer Santam said on Tuesday it expects to post increased full-year profits, partly due to improved sales, sending its shares higher. The unit of long-term insurer Sanlam flagged a rise of up to 30 percent in headline earnings per share (EPS) to 1,880 cents for the year […]
