In the news today: Survival insurance: Liberty’s claims picture, Shareholder resolutions on climate change start to gather steam and Public protector was ‘played’: FSB ruling is challenged by regulator

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Survival insurance: Liberty’s claims picture

The life market is shifting. According to Liberty’s claim statistics for 2018, a significantly higher portion of dread disease and disability claims are being paid out to younger people, with death accounting for only 30% of claims.  READ MORE

Shareholder resolutions on climate change start to gather steam

South Africa saw climate risk-related resolutions tabled for the first time on May 30 at the Standard Bank annual general meeting (AGM). The first resolution called on the bank to prepare a report on its exposure to climate risk in its lending, financing and investment activities. The second resolution called on the company to adopt and publicly disclose a coal power and mining lending policy. These resolutions, the first of their kind to be tabled by a South African listed company at its AGM, are a significant step in local shareholder activism on climate change.  READ MORE

Public protector was ‘played’: FSB ruling is challenged by regulator

An investigation by the public protector’s office into the Financial Services Board (FSB), following the stripping of pension fund surpluses in a fraudulent scheme that led to them being placed under curatorship, is being taken on review, with claims of bias against advocate Busisiwe Mkhwebane.  READ MORE

Uhuru declines to sign insurance bill over cash clause

President Uhuru Kenyatta has declined to sign into law changes to the insurance Act that allowed brokers and agents to continue receiving cash from policyholders on behalf of insurers.  READ MORE

Kenyan Herders use SMS service to beat climate change

Kenya herders previously relied on divination and guessing at the sky to study weather conditions. Changing climatic conditions and longer drought spells are frustrating their reliance on age-long traditional methods of weather studies.  READ MORE