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“It seems that Masthead and Old Mutual are misusing new legislation to scare the hell out of IFA’s, to get them to join Masthead, which they were unable to do through Tradewind and Navigator,” says Britz.
We speak to Gerry Anderson, deputy executive officer responsible for market conduct and consumer education, about the Masthead offering, and get some clarity from Rose Keanly, MD of Masthead.
PSG Group subsidiary Channel Life increased its profit attributable to shareholders by 17% to R18.4m, while premium income increased by 94%, in a life insurance industry that reported an average 6% drop in premium income during 2003.
Robert Vivian, IISA professor of insurance and risk management at Wits University, says that it is always difficult to comment on a case which is reported in a newspaper.
If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?