In the news today: Momentum amends its death benefits policy, Swiss Re forecasts global premium growth of 3%, and Coronation reports a 1.8% decline in revenue

0
450

Momentum amends its death benefits policy

The insurer has said that it will in future pay clients involved in violent crime an amount equal to its death benefit, regardless of medical non-disclosures. It has agreed to pay R2.4m to the widow of Nathan Ganas, the policyholder who died from gunshot wounds after a hijacking. READ MORE

Swiss Re forecasts global premium growth of 3% in 2019 and 2020

According to Swiss Re Institute’s latest Sigma ‘Global economic and insurance outlook 2020’, global growth will remain solid and premiums are forecast to grow by around 3% – with possible 9% growth in Asia. READ MORE

Coronation reports 1.8% decline in revenue

Assets under management have fallen to R586bn, the lowest in five years, largely due to a declining retirement savings market and a depressed economy. The equity market has underperformed cash for the past three years, says CEO Anton Pillay. READ MORE

Insurance penetration in Ghana to increase to 6% by 2020

The National Insurance Commission says insurance penetration in Ghana will increase to 6% from its current 2% by 2020. READ MORE

Africa Re’s premium growth hampered by catastrophe, losses

The reinsurer posted a premium income of US$577.41m at the end of the third quarter of 2018 – 11.65% growth. However, 2017 catastrophe claims in South Africa, along with property and energy losses, led to an underwriting loss of US$20.89m. READ MORE