From 1 May 2025, VAT will increase from 15% to 15.5%, irrespective of the National Budget approval. An Industry Tax/VAT Workgroup (of which the FIA are member) together with SAIA, is working on expert guidance and FAQs to support members through this transition.

South Africa’s insurance industry faces a shifting landscape of threats, with rising digital vulnerabilities, escalating natural disasters, and business interruptions likely to define 2025. These challenges are not unique to South Africa but as risks grow more interconnected, businesses and individuals must adopt proactive strategies to mitigate disruptions and safeguard their assets.

“We had to move four adults, three dogs, one cat and a bird to a new home and pay rental for six months – this was all covered by insurers.” After building a career in the insurance industry, Sandra Snowball, Head of Membership at the FIA, experienced, first hand, the importance of comprehensive insurance when she lost her home to a fire.

As the digital revolution improves how we conduct business, Sedick Isaacs, Head: Business Insurance Services at Bryte Africa Takaful, takes a look at how we can start recalibrating the insurance industry for the future.

A single lump sum benefit to cover all a client’s requirements in the event of their death is often not the optimal solution. In this article, Nic Smit, Product and Pricing Executive at Bidvest Life explores a better solution.

A provident fund that withheld payment of a withdrawal benefit on the basis that the member had defrauded the company has been ordered by the Pension Funds Adjudicator to request the complainant to place her version of events before it.

Risk mitigation is about helping your clients prepare for potential risks before they occur, allowing them to enjoy a worry-free holiday season. As financial advisers, this proactive approach helps build trust, strengthens relationships, and enhances the overall client experience. Help your clients relax with these tips from Johanni Jennings, Head of Auto&General.

In the ongoing battle against financial crime, South Africa has taken a significant step forward. The Financial Intelligence Centre (FIC) has recently issued new guidance on Ultimate Beneficial Ownership (UBO), lowering the threshold expected for identifying controlling ownership from 25% to 5%. This change, detailed in Public Compliance Communication 59 (PCC59), represents a crucial shift in our approach to combating money laundering, corruption, and other financial crimes.

At the recent Broker Leadership Forum, co-hosted by the Insurance Institute of Gauteng and Discovery Insure, industry leaders came together to discuss how brokers can thrive during uncertain times. How? By focusing on human connection and putting the clients’ needs first.

Personalised advice builds trust and loyalty and is crucial for ensuring client satisfaction and forging lasting relationships. This is especially true for healthcare advice, as the purchase of medical cover will most likely be for the medium to long term, unlike fast-moving consumer goods and one-off services. Learn how valuegraphics can take you to the next level as an adviser.

The purchasing of a pleasure craft can be an exhilarating experience as it is considered a luxury acquisition. However, it is often an expensive investment that might require the owner to protect it against risks such as accidents, theft, vandalism, or natural disasters which can lead to substantial financial losses.

When you set out on holiday, remember: the most precious cargo is the people in your vehicle. Use these tips to prioritise their safety.

“In an increasingly complex and interconnected world, the most successful insurance providers will be those who recognise the power of connection,” says Tarina Vlok, MD, Elite Risk Acceptances, a subsidiary of Old Mutual Insure.

Predictive models for wildfire risk offer a solution for building safer communities through data-driven insurance solutions. However, success requires collaboration.

With the impacts of climate change and other risks affecting farming, agriculture insurance has become an essential tool for the sustainability of farmers’ livelihoods, as well as a key contributor to food security.

IFRS17 is here. In this article, we take a look at what the new international accounting standard means for the industry.