The short-term insurance company Mutual & Federal received twelve bids when it went on auction. It is estimated that the buyer will have to fork out around R5bn to purchase the company. Speculators are concerned that the disposal of Mutual & Federal by Old Mutual will lead to a decline in share prices.

In this year’s annual “Best Company to Work For” survey conducted by Deloitte, Santam was rated second best company to work for in South Africa. Ian Kirk, Santam’s Chief Executive, said the award confirmations Santam’s devotion to its staff and that the award is a refection of their hard work and commitment. This enables the [...]

Budget was established in 1985 and was the first insurance company to offer insurance over the telephone, they also provide easy to read insurance policies. It offers a wide variety of short-term insurance products, falling into three main categories: vehicle insurance, household insurance, and business insurance. Budget vehicle insurance offers comprehensive products that will cover [...]

The South African division of American International Group (AIG) recently got word from its mother company based in New York that the insurance company is in the process of evaluating its exposure to risk. This all comes after the company’s third consecutive quarterly losses totalled $18.5 billion (R148.8 billion). The mother company is under immense [...]

OUTsurance was the first insurance company to introduce the OUTbonus. It works on the basic equation of no insurance claims = money in your pocket. You are entitled to your cash reward (OUTbonus) if you have not claimed for a period of three consecutive years. OUTsurance will then give you 10% of your premiums back [...]

This financial services company launched on February 25, 2008. It offers a complete range of financial products and services direct to the consumer. These products include short term insurance, motor warranty, credit life, and home loans. MiWay shareholders are Sanlam (50%), Santam (22%), PSG (18%), and management (10%). Having shareholders that are blue-chip JSE-listed companies [...]

Sanlam’s chief executive, Johan van Zyl, said he was upset with the absolute figures he presented yesterday at the June interims. Fortunately, he is very pleased with the underlying business and its basic structure. Sanlam Investment Management had misinterpret the markets and brought down the whole group’s results, and those of its short-term insurer Santam [...]

Hollard Pay As You Drive (PAYD) is the first all-inclusive car insurance cover provider in South Africa to offer this kind of alternative solution. This unique car insurance is a refreshing alternative, putting your in charge of your monthly car insurance premiums. The way PAYD works is that your premium is divided into two parts. [...]

An online survey conducted by Dial Direct Insurance revealed that 30 percent of South Africans don’t feel safe in their own homes. Other findings included that 20 percent of South Africans feels vulnerable regardless of what preventative actions they take to secure their properties. 10 percent don’t feel safe because their financial status does not [...]

Make sure you contact your insurer or broker when buying a new or pre-owned car to find out the cost of insurance as well as any terms regarding security devices such as alarms, immobilizers or tracking devices that may need to be installed. The head of Personal Lines Underwriting at Santam, Christelle Fourie, says that [...]