Aug 30, 2024 | 2024, insurance, insurance news, Latest Insurance Articles, South Africa
South Africa’s general insurance industry is set to grow at a compound annual growth rate of 5.8% in the next four years, according to a forecast by GlobalData. The global analytics and data company predicted that the value of gross written premiums in the country...
Aug 23, 2024 | insurance, insurance news, South Africa
Climate change is posing the most significant threat to the sustainability of non-life insurers. This was one of the key takeouts from Soul Abraham, Chief Executive for Retail at Old Mutual Insure, who recently spoke at the African Insurance Exchange Conference. “The...
Aug 16, 2024 | Climate Change, insurance news, Latest Insurance Articles, South Africa
Old Mutual Insure welcomes the recent move by the Prudential Authority (PA) of South Africa to allow insurers to develop innovative weather index-based products. “We commend the PA for strengthening our nation’s resilience against climate catastrophes. By doing...
Aug 9, 2024 | 2024, insurance, insurance news, South Africa
Major changes are set to be made to South African insurance products as the Prudential Authority approved the launch of weather index-based products to mitigate against an insurance crisis due to climate change. South Africa’s insurance industry has come under...
Jul 19, 2024 | 2024, AI, insurance, insurance news, Latest Insurance Articles
Partnering is vital for insurers to ensure they are able to effectively combat fraud. This is one of the messages to come out of the Insurance Crime Bureau (ICB) conference, held under the theme of “Breaking Barriers & Building Bridges for the Future”. It saw more...
May 17, 2024 | AI, insurance, insurance news
Despite higher inflation, interest rates and cost of living, the South African insurances market experienced a revival during the last two years, with the gross written premium across the local insurances market expected to show an annual growth rate of 5,14% from...
