In the news today: Absa to widen its insurance net, Reuel Khoza appointed chairman of Assupol, Umbrella funds to disclose costs at individual member level from next year and Life insurance firms pay out R12.7 billion

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Absa to widen its insurance net

JSE-listed lender Absa is planning to ramp up its life assurance and other insurance products as it completes its complex separation from Barclays in the first half of next year.  READ MORE

Reuel Khoza appointed chairman of Assupol

Veteran South African businessman Dr Reuel Khoza has been appointed a non-executive director and chairman of Assupol Holdings and subsidiary Assupol Life.  READ MORE

Umbrella funds to disclose costs at individual member level from next year

Members of umbrella retirement fund solutions will be able to assess the total impact of charges on their individual retirement benefits from next year October.  READ MORE

Life insurance firms pay out R12.7 billion

AThree of South Africa’s big life insurance companies – Liberty, Momentum and Sanlam – collectively paid out about R12.7 billion in life, disability and critical illness claims last year. The three insurers, which released their 2018 claims statistics within the past two weeks, paid out most of this money on death claims (about R9.5bn).  READ MORE

MiWay Insurance rated as top insurer in SA

MiWay Insurance has been rated the top insurer in South Africa for five years running on Hellopeter.com — The company has achieved a 92% compliment rate on Hellopeter and a Trust Index of 9.8 out of 10, with more than 11 000 positive reviews over the last year. READ MORE