Complaints about life insurers decline
Complaints about life insurers decline

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Investment Indicators | 1 July 2024
IN THIS WEEK's ISSUE
Rates Review
Investment Rates
Money Market Funds
Top 3 Rates
Top stories
FSCA to act to recover R495m in fines owed by Jooste
Life insurers with the most and least complaints to the ombud in 2023
Medihelp’s solvency ratio drops below threshold amid high claims and rising costs
In the news
Complaints to the life insurance ombud return to pre-Covid levels
PSG Wealth and Private Client Holdings named as SA’s top wealth managers
Important lessons from the Constitutional Court in the Coronation case
Cybersecurity Joint Standard: commencement date confirmed
FSCA Commissioner highlights balance between innovation and regulation
FIC report on how accountable institutions can identify money mule activity
Guidelines published on how to file arrear contribution reports
Moonstone Update
Regulatory Examinations
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ADVERTORIAL
GTC banner 2023-10-02
Two-pots is here (and in reality, this will be four pots), as opposed to the existing one-pot. How is it looking in your kitchen?

Fund members will require sophisticated fund administration accommodating the numerous alternative elective pre-retirement withdrawals of the Two-pots retirement system. They will also require additional - professional - counselling regarding the impact of premature pre-retirement withdrawal. Are you and your funds ready for this legislation?

Book a presentation with our CEO Gary Mockler to see how GTC can assist 13B administrators and benefit consultants with the relevant business processes associated with Two-pot.

Visit our website at www.gtc.co.za.

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RATES REVIEW
Secured Investment Rate
Please note that (G) indicates a Guaranteed and (L) a Linked product. In order to understand the difference between guaranteed and linked rates, kindly click here for an explanation.
R1 000 000 (3% commission)
Company This week Last week
1Life (L) 6.460% 6.40%
Discovery (G) 6.055% 6.057%
Nedgroup Life (L) 5.480% 5.480%
R1 000 000 (1.5% commission)
Company This week Last week
1Life (L) 6.820% 7.000%
Discovery (G) 6.443% 6.445%
Clientele (G) 4.003% 5.652%
Money Market Funds
R100 000
Company This week Last week
Allan Gray 9.09% 9.08%
Symmetry 8.79% 8.72%
Coronation 8.76% 8.67%
Please bear in mind that our figures, though based on the actual quotations that you also use, are for information purposes only, and can never replace the official quotation from the product house. In terms of the guarantees, you are requested to clarify the exact extent of such guarantees with the product house prior to advising clients.
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TOP STORIES
FSCA to act to recover R495m in fines owed by Jooste
Authority releases report on fines, debarments, investigations, and licence suspensions and withdrawals in 2023/24.
Top story read button
Life insurers with the most and least complaints to the ombud in 2023
There was a further decline in cases that were resolved wholly or partially in favour of the complainants.
Top story read button
Medihelp’s solvency ratio drops below threshold amid high claims and rising costs
Medihelp submitted a CMS-approved three-year plan, requiring gradual contribution increases to restore its reserves to the statutory 25% level.
Top story read button
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IN THE NEWS
Complaints to the life insurance ombud return to pre-Covid levels
There were fewer complaints about funeral benefits in 2023, while complaints about life benefits continued to rise.
Itn read button
PSG Wealth and Private Client Holdings named as SA’s top wealth managers
The annual Krutham Top Private Banks and Wealth Managers survey can help potential clients establish which institution will best serve their needs.
Top story read button
Important lessons from the Constitutional Court in the Coronation case
The departure point in determining whether a company qualifies for the foreign business establishment tax exemption is what it actually does.
In the news 3 read button
Cybersecurity Joint Standard: commencement date confirmed
Joint Standard 2 of 2024 outlines the measures and best practices financial institutions must adopt to ensure robust cybersecurity.
In the news 4 read button
FSCA Commissioner highlights balance between innovation and regulation
FSCA Commissioner Unathi Kamlana underscores the importance of balancing the costs and benefits of regulation to foster innovation and protect consumers.
In the news 5 read button
FIC report on how accountable institutions can identify money mule activity
The Centre’s analysis found the extensive use of shell companies to host and conceal fraudulent funds.
In the news 6 story read button
Guidelines published on how to file arrear contribution reports
The FSCA says submissions have either not been in the prescribed format or contain incorrect information.
In the news 7 read button
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F & P - Gold - 4 Export-live-chat
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MOONSTONE UPDATE 24 TO 27 JUNE 2023
Exclusions the main reason for short-term insurance complaints
Watch Moonstone Update for an overview of some of the stories covered in the past week's Moonstone newsletters.


Moonstone Update 2023-12-01

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Career opportunities
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CAREERS PLATFORM - INDUSTRY POSITIONS
 
Broker Support Administrator: Intellisure Insurance Brokers, Newlands, Cape Town. This will be the opportunity of a lifetime for the successful candidate who complies with the recommended requirements. A minimum of 10 years recent experience as a short-term insurance broker in a small office with the ability to multi-task.
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For career opportunities currently available at Moonstone please click the button below.
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