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During the 2018 Budget Speech, Finance Minister Malusi Gigaba stressed the important role that the financial services industry plays in South Africa. He also noted that there has been some uncertainty in the industry, and that Twin Peaks will be implemented on 1 April.
Times have changed, and the principles of diversion have changed. In today's knowledge-based economy old business models do not work. With this in mind, do life insurers need to rethink product strategies? We spoke to Hayley Taylor, Head of Underwriting and Ryan Chegwidden, Head: Product & Technical at Hollard Life about the life insurance sector.
The economic roller coaster ride that the world, and South Africa in particular, has been on over the past two years is gaining momentum with no promise of stopping any time soon. While many countries in the rest of the world – particularly in Africa – have managed to grow their economies, the news has been bleak for South Africa. However, this is about to change.
The insurance industry is waiting with bated breath for the implementation of Twin Peaks and the effects that it will have on the industry. With the recent passing of the Financial Sector Regulation Act (FSRA) into law, setting the stage for the Financial Services Board’s (FSB) transition to the Financial Sector Conduct Authority, Dube Tshidi, the FSB’s Executive Officer shared his views in a release to the media on the transition and the imminent winding down of the FSB.
Would you willingly give up your medical scheme membership under a fully implemented NHI?