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Global Credit Ratings (GCR) has today affirmed the national scale ratings assigned to PSG Financial Services of A (ZAR) (single a) and A1 (ZAR) (single a one) in the long term and short term respectively; with the outlook accorded as Stable.
South African listed insurance-based financial services group MMI Holdings Limited (MMI), has announced that the transaction by its Metropolitan International division to acquire a significant majority stake in Kenyan insurer Cannon Assurance Limited (Cannon) has become unconditional. The Kenyan Competition Commission has approved the transaction without any conditions.
There has been some concern within the South African insurance industry that the level of business generated by the industry is not at the level that the industry wants it to be. Of course, insurers want an endless flow of business, but there is a certain target that needs to be achieved in order for them to remain sustainable.
The merger of two complementary mid-tier South African firms into ARGEN Actuarial Solutions has created a new large actuarial firm with some appealing features.
Are financial advisers ready for the combined impact of COFI and AI?