Tag: August 2024
Momentum Life Insurance reports R6.5 billion in death claims for 2023
Momentum Retail Life Insurance has revealed a 5.5% increase in claim payouts to R6.5 billion in 2023. Cancer and cardiovascular conditions made up 57%...
Standard Bank’s credit losses persist despite earnings growth
Standard Bank has reported an increase in headline earnings for the five months ending 31 May 2024, despite elevated credit losses. The group's headline...
TymeBank eyes unicorn status with $125 million capital raise
TymeBank is aiming to achieve unicorn status by raising US$125 million in its fourth capital raise, which would push its valuation above US$1 billion....
Transnet in talks to improve rail link for automotive sector
Transnet is in discussions to enhance rail connectivity between the Gqeberha port in Eastern Cape and Gauteng to better integrate the two automotive manufacturing...
Mercedes-Benz South Africa to cut 700 jobs amid shift reduction
Mercedes-Benz South Africa plans to reduce operations at its East London plant from three shifts to two, potentially cutting 700 jobs. The company stated...
Sanlam reports R10.7 billion in claims payout for 2023
Sanlam has reported that its total claims payouts for 2023 amounted to R10.7 billion, with Sanlam Risk and Savings contributing R6.06 billion and Sanlam...
Naked’s witty “Lose Wait” campaign highlights modern insurance
Naked Insurance has launched its “Lose Wait” campaign featuring Rugby World Cup winner Ox Nché and influencers like Cassidy Nicholson and Gugu Dhlamini sharing...
Liberty Holdings considers closing health business amid losses
Liberty Holdings is considering restructuring or closing its health business due to prolonged losses. The insurer revealed to staff that Liberty Health has been...
Momentum Metropolitan sees surge in single premium business
Momentum Metropolitan Holdings (MMH) has reported a 20% increase in the value of new business, reaching R60.2 billion for the nine months ending March...
ECDC launches R50-million automotive finance scheme
The Eastern Cape Development Corporation (ECDC) has introduced a R50-million finance scheme to support micro, small and medium-sized automotive component suppliers and aftermarket service...